Real Estate Business Partnership or Joint Venture Agreement

Real Estate Business Partnership or Joint Venture Agreement This real estate joint venture is made and entered into this_______ day of _______________ by and between _____________________________________________referred to as the "First Party" and ____________________________________________ referred to as the "Second Party".. WHEREAS each of the parties desires to own one-half undivided interest in the subject property described below and the parties have agreed to limitations upon the right and power to transfer their undivided interests and have also agreed upon the payment of expenses, delegation of responsibility and the distribution of profits and/or losses incurred with reference to the property and WHEREAS, it is the desires of the parties to define and set out their relationship in writing and the circumstances under which they are operating, as of the date of this Agreement.. Subject to the conditions and limitations but without limitation otherwise set forth herein and to the requirements of nay law or administrative enactment applicable here to, Second party shall: (A) Review and research references, credentials and licenses if applicable of any contractor or repairmen which are chosen to perform repairs and renovations on the subject property.. (D) If any provisions of this agreement is or becomes invalid, illegal or unenforceable in any jurisdiction, such provision shall be deemed amended to conform to applicable laws so as to be valid and enforceable or if it cannot be so amended without and enforceable or, if it cannot be so amended without materially altering the intention of the parties, it shall be stricken and the reminder of this agreement shall remain in full force and effect..