Disclaimer
The content provided is intended solely as a general example for informational purposes related to partnership agreements in property renovation projects. It does not constitute legal advice and should not be relied upon as a substitute for consulting a qualified attorney specializing in real estate or contractual law. Laws and regulations may vary depending on the jurisdiction, and adjustments may be required to ensure compliance with local requirements. The use of this example is the sole responsibility of the user, and we assume no liability for any errors, omissions, or consequences arising from its use without professional review.
Please note: This is a sample House Flipping Partnership Agreement template, provided for reference purposes only. Actual terms may differ based on specific arrangements and applicable laws.
House Flipping Partnership Agreement Sample
Parties Involved:
Partner A: John Doe Homes LLC
Address: 123 Main Street, Los Angeles, CA 90001
Partner B: Jane Smith Investments
Address: 456 Elm Street, Los Angeles, CA 90002
Property Details:
The property subject to this agreement is located at 789 Oak Avenue, Los Angeles, CA 90003, or other properties as mutually designated in future agreements.
Investment & Profit Sharing:
The partners agree to contribute capital towards property acquisition, renovation, and resale. Profits will be split equally (50/50) or as detailed herein after project completion.
Partner Responsibilities:
Each partner agrees to perform their respective roles in property acquisition, management, renovation, and sale, in accordance with applicable laws and best practices.
Governing Law:
This agreement shall be governed by the laws of the State of California. Disputes shall be resolved within the jurisdiction of Los Angeles courts.
Additional Provisions:
- All expenses related to property purchase, renovation, and sale shall be approved in advance by both partners.
- Any amendments to this agreement must be in writing and signed by both parties.
- Profits shall be distributed within 30 days of property sale closing, after deductions for expenses and taxes.
Los Angeles, ______________________
John Doe (Partner A)
Jane Smith (Partner B)