VIEWS: 154 PAGES: 1 CATEGORY: Partnership Agreements POSTED ON: 5/4/2012
Joint Ownership Preliminary Commitment for joint ownership or joint venture agreements.
2012 copyright Komes Network Joint Ownership Preliminary Commitment Joint Ownership Preliminary Commitment Investor (s): Occupier (s): We, Occupier(s) and Investor(s), enter into this preliminary Commitment prior to preparation of a Joint Ownership Agreement. Occupiers and Investors Agree to the following terms which shall be incorporated into the Joint Ownership Agreement. The parties agree to be bound by the following terms until such time as the Joint Ownership Agreement is entered into: 1. The parties shall acquire property to be held by them as tenants in common. 2. Investor(s) shall contribute____% of the purchase price $___________ as investor’s initial capital contribution. 3. Occupier(s) shall contribute ____% of the purchase price $__________as occupier’s initial capital contribution. 4. Acquisition closing costs are not reimbursable and shall be paid ___% /$_______ by Occupier(s) and ____%/$_________ by Investor(s). 5. With Seller as Investor, Occupier shall advance, subject to Seller reimbursement, $_________ of real estate commission. 6. Ownership split shall be ____% to Investor(s) and___% to Occupier(s). 7. The Agreement term shall be: ___1 Year ___3 Years ___ 5 Years ___7 Years __10 Years 8. Occupier(s) shall be granted exclusive occupancy during term. 9. Purchase price shall be [in the range of] $____________. 10. Additional terms: Executed this____day of ___________, (year) Investor(s): Occupier(s): ________________________ ________________________
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