USA Joint Venture Agreement for the Purchase of a Mortgage

Prepare a Joint Venture Agreement for the Purchase of a Mortgage with this template for ventures based in the USA.

• The Agreement establishes a joint venture between several parties who are jointly purchasing a promissory note secured by a mortgage or deed of trust.
• Each party shall contribute a specified amount of capital, and make additional contributions as required.
• Each party is entitled to revenues in proportion to their respective interests.
• Decisions require the approval of all venturers.
• The joint venture will not maintain a bank account in its own name, but will use a mortgage servicing company to collect payments and make distributions.
• The parties appoint an attorney in fact to effect the purchase of a suitable mortgage.