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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.
$29.99
Alberta General Partnership Agreement
Prepare a General Partnership Agreement for an Alberta partnership with this comprehensive template.
- Net profits or losses will be shared or made up by the partners on a pro rata basis.
- Additional capital contributions will also be made pro rata among the partners.
- Provisions for designation of a managing partner.
- Procedure for performing an annual valuation.
- No assignment or transfer of a partner's interest is allowed without consent of the other partners.
- Procedure for withdrawal of a partner.
- This legal form template is provided in MS Word format and is fully editable to fit your needs.
- Intended for use only in the Province of Alberta, Canada.
$17.99
Ontario Partnership Agreement
Set up a general partnership in Ontario with this downloadable Partnership Agreement template.
- The Partnership Agreement contains provisions for:
- Admission of new partners.
- Allocation of profits and losses, and income and losses for income tax purposes, among the partners in proportion to their respective interests.
- If partnership earnings are not sufficient to pay its debts and liabilities, the partners will make up the difference in proportion to their respective interests.
- If any partner is required to pay more than its share due to default on the part of another partner, the first partner will have a lien and charge against the income account of the defaulting partner.
- Management of the business of the partnership by a managing committee.
- Withdrawal of a partner.
- Available in MS Word format.
- Intended for use only in the Province of Ontario, Canada.
$29.99
Provisions to Create Phantom Partnership Interests
Create phantom partnership interests for persons who have made significant contributions by adding these provisions to your Partnership Agreement.
- Phantom partnership units can be issued to employees, professional advisors, consultants and other parties whose contributions have been a significant factor in the business' success.
- Each holder of phantom units is deemed included as a partner, and is entitled to distributions to partners, notwithstanding that s/he is not actually a partner.
- Phantom units cannot be transferred without the consent of the General Partner.
- This form is available in MS Word format.
$2.29 $1.99
Partnership Agreement to Dissolve on Death or Insolvency
This Partnership Agreement template contains clauses providing for the partnership to dissolve upon the death, insolvency or mental incapacity of one of the partners.
- Decisions must be made by a majority of ownership interests.
- Any partner can also dissolve the partnership by giving written notice to the other partners.
- The partners agree to resolve any disputes through arbitration.
- There are no provisions for the sale or disposition of the interest of any partner, so partners cannot withdraw from the partnership.
- This is a generic legal template that is not country-specific and can be used in many jurisdictions.
- Download the Partnership Agreement template immediately after you purchase it, personalize it with your details, print and sign.
$14.99
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