Use this template to prepare a Joint Venture Agreement between several parties who are jointly purchasing property which they plan to rent out as a revenue property. Provisions of the agreement include:

• The joint venture is limited to the acquisition, development, rental and management of the properties.
  
• One of the co-venturers is designated to hold the land as bare trustee on behalf of all the parties.
  
• The agreement does not create a partnership between the parties.
  
• Each party is entitled to revenues and liable for expenditures in proportion to their respective interests.
  
• Provisions for management of the joint venture.
  
• Each party indemnifies the other parties.
  
• Funds required by the joint venture will be advanced equally by each of the parties. If any party defaults in contributing funds, they will not be entitled to receive revenues until payment is made.

This is a generic legal agreement in MS Word format, and is not specific to any country or region.