Joint Venture LLC Agreement

Joint Venture LLC Agreement

I am in search of a joint venture agreement for (2) LLC companies relative to residential construction. We are preparing to construct a new residential town home.


You really need to retain an attorney for this one. For others viewers, a joint venture is when two or more companies join together on a specifiic transaction. In this case, two limited liability companies are working together on the construction of a residential property, in this case a townhome. Terms of the agreement would have to reflect the nuances of your deal which could be vastly different if it was a simpler renovation of an existing single rental townhome, or a major project consisting of many townhomes. Are there zoning or other changes that have to be in place before construction commences? Is one of you putting up more money or a guarantee? Who is responsible for construction? Is there a budget? If you each (i.e., each co-venturer) bring a different skill set to the deal, are there to be special allocations of profits based on the performance of each of you? Trying to use a "standard" form when there could be so many nuances could be disastrous.

Our Consumer Webcasts and Blogs

Subscribe to our email list to receive information on consumer webcasts and blogs, for practical legal information in simple English, delivered to your inbox. For more professional driven information, please visit Shenkman Law to subscribe.

Ad Space