Welcome to our page dedicated to the Real Estate Joint Venture Agreement Texas. This platform is your guide to cementing a winning collaboration in the real estate industry.
We provide you with an editable legal contract, designed for both commercial and residential properties. Whether you’re getting into a real estate partnership or starting an investment partnership for property development, this is just the place for you.
Feel free to download, edit and utilize our agreement—tailored specifically for real estate collaborations in Texas—ensuring your joint venture goes off without a hitch.
REAL ESTATE JOINT VENTURE AGREEMENT
THIS AGREEMENT is made and entered into this ______ day of ___________, 20_____, by and between _______________________, a _______________ corporation (“Party A”), and _____________________, a _____________ corporation (“Party B”).
ARTICLE I: PURPOSE
The purpose of this Agreement is to form a joint venture between Party A and Party B (the “Joint Venture”) for the purpose of jointly owning and developing real property located in the State of Texas (the “Property”).
ARTICLE II: CONTRIBUTIONS
Party A and Party B shall each contribute to the Joint Venture the following:
Party A: _________________
Party B: _________________
ARTICLE III: OWNERSHIP
The Joint Venture shall be owned equally by Party A and Party B. Each party shall have an undivided fifty percent (50%) interest in the Joint Venture and the Property.
ARTICLE IV: MANAGEMENT AND CONTROL
The management and control of the Joint Venture and the development of the Property shall be jointly conducted by Party A and Party B.
ARTICLE V: PROFITS AND LOSSES
Profits and losses from the Joint Venture shall be allocated to Party A and Party B based on their respective ownership interests.
ARTICLE VI: DISSOLUTION
The Joint Venture shall be dissolved upon the happening of any of the following events:
1. The completion of the development of the Property.
2. The mutual agreement of Party A and Party B.
3. The bankruptcy or insolvency of either Party A or Party B.
ARTICLE VII: GOVERNING LAW
This Agreement shall be governed by and construed in accordance with the laws of the State of Texas.
ARTICLE VIII: MISCELLANEOUS
This Agreement contains the entire understanding of the parties and supersedes all prior oral and written agreements. This Agreement may be amended only by a written agreement signed by both parties.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.
Disclaimer: This template is provided for informational purposes only and should not be considered legal advice. Always consult with a licensed attorney before entering into any legal agreement. This template may not be suitable for your specific circumstances and may need to be modified to fit your specific needs.
In the process of creating a successful Real Estate Joint Venture Agreement Texas, various other legal documents also play crucial roles. One such important document is the Contract for Deed Template Texas, which outlines the terms and conditions of the property sale.
Additionally, while devising a joint venture, it’s crucial to understand and agree upon the terms of rental if the property is leased. For this purpose, the Contract for Rental Property Texas is particularly handy.
Moreover, it’s essential that all parties involved in the venture have a clear understanding about the terms of the property’s sale, as detailed in the Contract for Sale of Real Estate in Texas. These interconnected documents ensure all stakeholders have a mutual consensus on every aspect of the real estate deal.