REAL ESTATE JOINT VENTURE AGREEMENT WASHINGTONTHIS AGREEMENT is made on this [Date], by and between [Party 1] of [Address 1], Washington, hereinafter referred to as “Party 1”, and [Party 2] of [Address 2], Washington, hereinafter referred to as “Party 2”.
RECITALSWHEREAS, Party 1 and Party 2 desire to form a joint venture in order to collaborate on the purchase, development, and sale of real estate located in the State of Washington and more particularly described as [Property Description] (hereinafter, the “Property”); NOW, THEREFORE, in consideration of the promises contained herein, the parties agree as follows:
ARTICLE I: FORMATION OF JOINT VENTUREThe parties hereby form a joint venture pursuant to the laws of the State of Washington and in accordance with the terms and conditions set forth in this Agreement.
ARTICLE II: NAME AND BUSINESSThe name and business of the Joint Venture shall be [Name of Joint Venture] and its principal place of business shall be [Address of Principal Place of Business], Washington, or such other place as the parties may from time to time designate.
ARTICLE III: CONTRIBUTIONSParty 1 and Party 2 shall contribute to the Joint Venture in cash, property, or services as agreed between the parties and as specified in Exhibit A attached hereto.
ARTICLE IV: PROFIT AND LOSSEach party shall share in the profits and losses of the Joint Venture in proportion to their respective contributions as set forth in Exhibit A.
ARTICLE V: MANAGEMENT AND CONTROLThe management and control of the Joint Venture shall be [Detail the management and control structure].
ARTICLE VI: DISSOLUTIONThe Joint Venture shall be dissolved upon the happening of any of the following events: [List the events triggering dissolution].
ARTICLE VII: DISPUTE RESOLUTIONIn the event of any dispute arising out of or relating to this Agreement, such dispute shall be settled by arbitration in accordance with the rules of the American Arbitration Association.
ARTICLE VIII: GENERAL PROVISIONSThis Agreement shall be governed by and construed in accordance with the laws of the State of Washington. This Agreement may be amended only by a written instrument duly executed by all parties. IN WITNESS WHEREOF, the parties hereto have executed this Real Estate Joint Venture Agreement as of the date first above written. _____________________________ [Party 1] _____________________________ [Party 2] **NOTE: The information in this document does not constitute legal advice and is not a substitute for obtaining advice from a qualified attorney. It is recommended to consult a real estate attorney or real estate professional before signing any real estate joint venture agreement.**
If you’re exploring real estate opportunities in Washington, it’s essential to understand the legalities involved. Let’s start with a Real Estate Joint Venture Agreement. This agreement is designed to outline the rights and responsibilities of two parties looking to invest together.
But, before anything else, you might want to familiarize yourself with the Contract for Deed Template Washington. This template will help you grasp the basic terms and conditions of real estate contracts in the state.
If you’re considering rental properties as part of your real estate investment portfolio, don’t overlook the importance of a clear and comprehensive rental contract. To assist you, check out the Contract for Rental Property Washington.
Finally, if you’re preparing to take the leap and purchase property in Washington, make sure to examine the Contract for Sale of Real Estate in Washington. It provides a detailed overview of property sale agreements following Washington’s laws, aiding in a smooth and legally compliant transaction.