Real Estate Partnership Deed
Real Estate Partnership Deed
This Deed of Partnership is made and executed on [Date] at [Location] between:
[Your Name], [Your Address], hereinafter referred to as the "First Partner," which expression shall unless it be repugnant to the context or meaning thereof be deemed to mean and include their heirs, executors, administrators, and assigns;
[Second Partner's Name], [Second Partner's Address], hereinafter referred to as the "Second Partner," which expression shall unless it be repugnant to the context or meaning thereof be deemed to mean and include their heirs, executors, administrators, and assigns;
Whereas, the parties hereto desire to enter into a partnership for the purpose of joint property investments, and they have agreed to reduce into writing the terms and conditions governing their partnership;
Now, Therefore, This Deed Witnesses That:
I. Name and Nature of Partnership:
The parties hereto hereby form a partnership under the name of [Name of Partnership], which shall be a partnership for the purpose of joint property investments.
II. Duration of Partnership:
The partnership shall commence on the date of execution of this Deed and shall continue until terminated by mutual agreement of the partners or as otherwise provided herein.
III. Capital Contribution:
Each partner shall contribute to the partnership an initial capital contribution as follows:
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The First Partner shall contribute [Amount] in cash or as agreed property.
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The Second Partner shall contribute [Amount] in cash or as agreed property.
IV. Allocation of Profits and Losses:
The profits and losses of the partnership shall be shared equally between the partners unless otherwise mutually agreed upon in writing.
V. Management and Decision-Making:
The partners shall jointly manage the affairs of the partnership, and all decisions regarding property investments, acquisitions, dispositions, or any other matters relating to the partnership's business shall require the unanimous consent of both partners.
VI. Books of Accounts and Audit:
The partners shall maintain proper books of accounts, which shall be kept at the principal place of business of the partnership. The accounts shall be audited annually by a qualified auditor appointed by mutual agreement of the partners.
VII. Dispute Resolution:
Any dispute or difference arising between the partners hereto relating to the partnership shall be resolved amicably through mutual discussions. In case of failure to resolve the dispute amicably, the matter shall be referred to arbitration in accordance with the laws of [Jurisdiction].
VIII. Dissolution:
The partnership may be dissolved at any time by mutual agreement of the partners or by operation of law. Upon dissolution, the assets of the partnership shall be liquidated, and the proceeds shall be distributed among the partners in proportion to their respective capital contributions.
In Witness Whereof, the parties hereto have set their hands on the day, month, and year first above written.
[Your Name]
[Second Partner's Name]
On this [Date], before me, the undersigned authority, personally appeared [Your Name], known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument, and acknowledged that [he/she] executed the same for the purposes therein contained.
[NOTARY PUBLIC]
Date:
My commission expires:
