What’s more, this contract isn’t just informative – it’s interactive, too! Feel free to download and edit the document according to your specific needs. Ensure your business adventures in Oregon real estate are legally secure with our detailed Joint Venture Agreement.
REAL ESTATE JOINT VENTURE AGREEMENTTHIS JOINT VENTURE AGREEMENT (the “Agreement”) made and entered into this [INSERT DATE] (the “Execution Date”), BETWEEN: [PARTY A NAME] of [PARTY A ADDRESS] (the “Party A”), AND [PARTY B NAME] of [PARTY B ADDRESS] (the “Party B”).
RECITALSWHEREAS, Party A and Party B (collectively, the “Joint Venturers”) desire to form a joint venture for the purpose of [DESCRIBE THE PURPOSE OF THE JOINT VENTURE] in the State of Oregon (the “Venture”); AND WHEREAS, the Joint Venturers wish to set out their respective rights, duties, and obligations to one another and the Venture; NOW, THEREFORE, in consideration of the covenants herein contained, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Joint Venturers agree as follows:
TERM AND TERMINATIONThis Agreement shall be effective as of the Execution Date and will continue until terminated by either Party A or Party B on giving [NUMBER OF DAYS] days’ written notice.
CONTRIBUTIONSThe Joint Venturers shall contribute to the Venture, in the amounts and proportions as separately agreed upon, such cash, property, services, and other resources as required for the successful conduct of the Venture.
MANAGEMENT AND CONTROLThe management and control of the Venture shall rest in Party A and Party B jointly, with decisions requiring the mutual consent of both.
DISTRIBUTION OF PROFITS AND LOSSESProfits and losses from the Venture shall be shared by the Joint Venturers in proportion to their respective contributions to the Venture.
INDEMNIFICATIONEach Joint Venturer shall indemnify and hold harmless the other Joint Venturer from any losses suffered or liabilities incurred due to the negligence or willful misconduct of the indemnifying party.
COMPLIANCE WITH LAWSThe Joint Venturers shall conduct the Venture in compliance with all applicable laws, rules, and regulations in the State of Oregon.
DISPUTE RESOLUTIONAny dispute between the Joint Venturers arising out of this Agreement shall be resolved by arbitration in accordance with the rules of the American Arbitration Association.
APPLICABLE LAWThis Agreement shall be governed by and construed in accordance with the laws of the State of Oregon. IN WITNESS WHEREOF the Parties have executed this Agreement as of the Execution Date. _________________________ ______________________ [PARTY A NAME] [PARTY B NAME] _________________________ ______________________ Date Date NOTICE: THIS JOINT VENTURE AGREEMENT MAY HAVE SIGNIFICANT LEGAL, FINANCIAL, AND TAX CONSEQUENCES. THE PARTIES ARE ADVISED TO CONSULT LEGAL AND TAX COUNSEL BEFORE ENTERING INTO THIS AGREEMENT.
OREGON SPECIFIC ADDENDUMBy signing this Agreement, the Parties acknowledge that they are aware of Oregon’s requirements for establishing and operating a joint venture, and the potential legal and tax consequences of doing so under Oregon law. The Parties further agree to comply with all applicable state laws and regulations, including the Oregon Business Corporation Act and the Oregon Securities Law.
If you’re entering into a real estate joint venture agreement in Oregon, you may also need to consider some other vital contracts.
For example, if you’re planning to sell a property within this joint venture, it’s essential to use an effective contract for sale of real estate in Oregon.
Additionally, should the joint venture include rental properties, a comprehensive contract for rental property in Oregon is also invaluable.
Lastly, to facilitate buying property on agreed terms, consider using a well-drafted contract for deed template in Oregon. Each of these contracts can become a cornerstone to your real estate joint venture success.