This Real Estate Investment Partnership Agreement (“Agreement”) is made and entered into on this day of , 20 (“Effective Date”), by and between the following Partners:
The name of the partnership shall be (“Partnership”). The principal place of business shall be located at .
The purpose of the Partnership is to acquire, own, develop, manage, lease, and sell real estate properties and to engage in any other lawful business related thereto.
Each Partner shall contribute capital to the Partnership as follows:
Additional contributions may be made with the consent of all Partners.
The Partners shall have the following ownership interests:
The Managing Partner shall have primary responsibility for day-to-day operations. Major decisions must receive consent of Partners holding at least % of interests.
Profits and losses shall be distributed to the Partners in proportion to their interests.
Meetings of the Partners shall be held at such times as may be agreed upon by the Partners.
The funds of the Partnership shall be placed in such banks or institutions as decided by the Partners. All Partnership funds shall be used solely for Partnership business.
No Partner may transfer their interest in the Partnership without the consent of the other Partners.
The Partnership shall be dissolved upon the occurrence of any of the following events:
Upon dissolution, assets and liabilities shall be distributed in accordance with the Partners’ ownership interests.
This Agreement shall be governed by and construed in accordance with the laws of the State of .
Partner 1: _______________________________
Partner 2: _______________________________
Additional Partners: _______________________