Set the terms by which an LLC will buy, develop and lease real estate property with this easy-to-use LLC Operating Agreement for Real Estate Developer.
This 11-page agreement template establishes the formation of a multi-member limited liability company in the United States for the purpose of purchasing, developing, operating, leasing and/or selling real estate properties.
The members are responsible for managing the business and affairs of the LLC and may appoint one or more managers to delegate that authority to.
Provisions for admitting new members and for existing members to transfer their interest.
Provisions for tax and accounting procedures. The LLC is treated as a partnership for U.S. federal tax purposes.
Provisions for dissolution of the LLC, liquidation and distribution of the assets on a pro rata basis after payment of the LLC's obligations.
This is a U.S. template which can be used in most states. Check with the Secretary of State in your area to find out what else is required.
An LLC can be a cost-effective and efficient structure for a real estate developer. Buy and download the LLC Operating Agreement template to get started.
Set up a limited liability company in the U.S. under this LLC Formation Agreement between the members of the company.
This is an informal preliminary agreement which the members can put in place so they can proceed with filing Articles of Organization and forming the company, prior to entering into a formal operating agreement.
The members agree that this is a preliminary agreement only and that they intend to execute a more complex agreement within a reasonable time.
The members will manage the business of the LLC and will vote according to their proportionate interests.
The members are free to carry on other businesses as long as they do not compete or conflict with the business of the LLC.
The members agree that disputes will be settled by arbitration.
The LLC Formation Agreement can be used throughout the United States.
Make sure all members sign the Agreement before you file your Articles and organize the company. Buy, download, start using the form right away.
This LLC Formation Agreement provides for a limited liability company to have three classes of members.
The member classes are defined by their profit and loss allocations, their share of the assets upon dissolution of the company, and their voting rights, as follows:
Class A Investor Members receive 60% of the profits, bear 90% of the losses, and have 5 votes.
Class B Manager Members are responsible for the management and direction of the LLC. They receive 30% of the profits, bear 10% of the losses, and have 2 votes, and are the only members to vote on company decisions which do not, by law, require the vote of all members.
Class C Employee Members receive 10% of the profits, bear none of the losses, and have 1 vote.
The Formation Agreement can be used by LLCs anywhere in the United States. Buy the form, download, fill in, print and sign.