Real Estate Limited 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.

Set up a USA limited partnership between a general partner and several limited partners with this Limited Partnership Agreement template.

• The General Partner will not be required to contribute any cash to the capital of the Partnership. The Limited Partners must each purchase a minimum number of units.
• The limited partners are not liable for the debts or liabilities of the Partnership and are not required to make additional capital contributions.
• The liability exposure of the limited partners is limited to the amount of the subscription paid by each of them for their partnership units.
• The General Partner has full authority in the management of the Partnership.
• The agreement includes provisions for withdrawal of the General Partner and assignment of a partnership interest. The Partnership has a right of first refusal to purchase the withdrawing partner's units.
• This template is provided in MS Word format and is easy to download and customize.
• Governed by U.S. laws and intended to be used only within the United States.

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.

Keep your assets out of probate when you die with this USA Declaration of Nominee Trust.

• A nominee trust is a trust created for the purpose of holding property on behalf of beneficiaries whose identities are kept secret.
• The trustee's sole duty is to hold the trust property and pay over any trust income to the beneficiaries. The trustee has no power to deal with the property except as directed by the beneficiaries.
• Unless terminated earlier by one or more beneficiaries, the trust will automatically terminate twenty years after its effective date.
• The trust will not be administered by any court.
• Any termination of the trust, amendments to the Trust Declaration, and any changes in trustees must be recorded in the county records.

It's never to early to start your estate planning. Buy the USA Declaration of Nominee Trust and get started on yours now.

Sell a real estate property in the United States with this template USA Real Estate Purchase and Sale Agreement.

• Fixtures. The property is being sold with all the attached fixtures, including window coverings.
• Encumbrances. The property will be free of any encumbrances on title except for existing zoning laws, party wall agreements, easements, and the like.
• Title Defects. If the seller is unable to perfect title or make the property conform to all building and zoning laws within the time agreed to by the parties, all payments made by the buyer will be refunded and the agreement will be void. However, the buyer has the option to elect to accept the property even if the title has not been perfected.
• Adjustments. All rents, taxes, mortgage interest and other charges with respect to the property will be adjusted as of the closing date.
• Default by Buyer. If the buyer defaults in fulfilling any of its obligations, the seller may keep any amounts paid as liquidated damages.
• Financing Condition. The sale is conditioned upon the buyer obtaining mortgage financing.
• Lead Disclosure. The agreement includes the required Lead Paint Disclosure form.
• This form is available in MS Word format and is fully editable.
• This is not a State-specific form. Some States may have certain requirements regarding the type of forms used. Check your State laws to be sure.