Real Estate General Partnership Agreement | USA

Set up a general partnership for buying, developing and leasing real estate properties with this USA Real Estate General Partnership Agreement template.

• Cash flow of the partnership will be distributed among the partners in the same proportion as profits and losses are allocated.
• If the income produced by the partnership properties is not sufficient to pay operating costs, the partners will contribute additional funds in proportion to their capital interests.
• If a partner fails to make his/her contribution, the other partners may contribute additional funds, which may be treated either as additional capital or as a loan to the defaulting partner.
• A partner may transfer all or part of his interest to or for the benefit of a spouse or descendant(s).
• If a partner wants to transfer all or part of his interest to someone other than a family member, the other partners have a first right of refusal to purchase the interest.
• The partnership can be terminated by a majority vote (based on interests). Upon termination the partnership assets will be sold and any net proceeds will be distributed to the partners in proportion to their capital interests.
• The USA Real Estate General Partnership Agreement template is available as a downloadable Microsoft Word file, which is fully customizable to meet your needs.