Joint Venture AgreementThis Joint Venture Agreement (“Agreement”) is made and entered into this ___ day of ___, 20___ (“Effective Date”), by and between ___ (“Party A”), and ___ (“Party B”), collectively referred to as the (“Parties”).
Article 1: PurposeThe purpose of this Agreement is to establish a joint venture for the purpose of investing in real estate properties in the state of Pennsylvania.
Article 2: FormationThe Parties agree to form a joint venture in accordance with the laws of the Commonwealth of Pennsylvania. The joint venture shall do business under the name “Joint Venture Name” and shall have its principal place of business at “Address”.
Article 3: ContributionsParty A and Party B agree to contribute capital to the joint venture in the following manner: “Details of Contributions”.
Article 4: ManagementThe joint venture shall be managed by a Joint Venture Committee consisting of representatives from each Party. The committee shall have the authority to make decisions on behalf of the joint venture.
Article 5: Profits and LossesProfits and losses from the joint venture’s activities will be divided between the Parties in the following manner: “Details of Profit and Loss Distribution”.
Article 6: DissolutionThe joint venture shall be dissolved upon the occurrence of any of the following events: “Details of Dissolution Events”.
Article 7: Representations and WarrantiesEach Party represents and warrants to the other that it has full power and authority to enter into this Agreement and to carry out its obligations hereunder.
Article 8: Governing LawThis Agreement shall be governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania.
Article 9: Dispute ResolutionAny disputes arising out of or related to this Agreement shall be resolved through arbitration in accordance with the rules of the American Arbitration Association.
Article 10: Entire AgreementThis Agreement constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all previous agreements, understandings, and arrangements between the Parties.
Article 11: AmendmentThis Agreement may be amended or modified only by a written agreement signed by both Parties.
Article 12: CounterpartsThis Agreement may be executed in any number of counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first above written. “Party A”: ______________________ Signature ______________________ Printed Name “Party B”: ______________________ Signature ______________________ Printed Name This is a standard template for a real estate joint venture agreement in Pennsylvania and should be modified to suit your specific needs. It is strongly recommended that you consult with a legal professional before entering into any legal agreement.
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