A real estate joint venture contract is a legal document drafted when two individuals purchase a real estate or a property together and both have rights to the property. The contract has details of the real estate and also acts documentary evidence in case of any future dispute.
Sample Real Estate Joint Venture Contract
Real Estate Joint Venture Contract Number: R412 K523
Date of Registration: 12th of February 2011
This contract is being drafted between Mr. Roger Henry with a residential address:
472 North Hill
New York, New Jersey 4124.
and Mr. Nathan Lee with a residential address:
124 High School Street,
New York, New Jersey 4178.
for the purchase of a real estate located at the below mentioned address:
412 High School Street,
New York, New Jersey 4123.
The details of the real estate are as follows:
- The real estate is barren land with a total area of 10000 sq feet.
- The land is five minutes away from the railway station.
Both the parties have agreed to enter into the following terms and conditions:
- Both parties have to contribute an equal amount of $100000 to purchase the land.
- In order to start any kind of construction, there needs to be approval of both the parties.
- The contract can be cancelled at any point during the contract period prior to which the party which cancels the contract has to pay a penalty.
Find the signature of both the parties below:
Signature of party 1: Signature of the party 2:
Roger Henry Nathan Lee