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Real Estate General Partnership Agreement | USA

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

The buyer of the interest becomes a partner and assumes all of the seller's obligations under the Partnership Agreement.
Each of the parties indemnifies the other against claims and damages.
The form includes the consent of the remaining partners to the sale of the interest.
The assignment is governed by the laws of the State in which the partnership was formed.
This legal form template is fully editable to fit your specific circumstances.

$12.49