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1. Parties: Identification and details of all parties entering into the partnership agreement
2. Background: Context of the agreement, including the parties' intention to purchase property together and general purpose of the arrangement
3. Definitions: Key terms used throughout the agreement defined for clarity and legal certainty
4. Partnership Structure: Details of ownership shares, partnership type, and legal structure of the arrangement
5. Financial Contributions: Initial and ongoing financial contributions required from each partner, including deposit, mortgage payments, and other costs
6. Property Management: Rules and procedures for managing the property, including maintenance, improvements, and decision-making processes
7. Rights and Obligations: Specific rights and responsibilities of each partner in relation to the property and partnership
8. Decision Making: Process for making decisions about the property, including major renovations, sale, or refinancing
9. Distribution of Profits and Losses: How rental income, capital gains, and costs will be shared between partners
10. Exit Provisions: Procedures for partners to exit the agreement, including sale of shares and first right of refusal
11. Dispute Resolution: Process for resolving disagreements between partners
12. General Provisions: Standard legal clauses including governing law, notices, and amendment procedures
1. Occupancy Rights: Used when one or more partners will reside in the property, detailing occupancy terms and conditions
2. Rental Management: Include when the property will be rented out, covering property management and tenant selection
3. Mortgage Arrangements: Required when partners are jointly obtaining a mortgage, detailing lending arrangements and responsibilities
4. Death or Incapacity: Detailed provisions for handling a partner's death or incapacity, particularly relevant for non-family partnerships
5. Property Development: Include when partners plan to develop or significantly renovate the property
6. Business Use: Required when the property may be used for business purposes
7. Insurance Requirements: Detailed insurance obligations beyond standard coverage
8. Tax Planning: Specific tax arrangements and structure when partners have complex tax considerations
1. Property Details: Full legal description and details of the target property or properties
2. Financial Contributions Schedule: Detailed breakdown of each partner's financial contributions, including timing and amounts
3. Ownership Structure: Detailed description of ownership shares and any special conditions
4. Maintenance Schedule: Regular maintenance requirements and responsibility allocation
5. Valuation Methodology: Agreed method for valuing the property or partnership shares for various purposes
6. Partner Contact Details: Complete contact information for all partners and their representatives
7. Operating Budget: Annual budget for property expenses and maintenance
8. Decision Matrix: Table outlining different types of decisions and required approval levels
Property
Partnership
Partners
Ownership Share
Capital Contribution
Commencement Date
Completion Date
Purchase Price
Settlement
Encumbrance
Transfer
Mortgage
Mortgagee
Operating Expenses
Capital Improvements
Fair Market Value
Exit Event
First Right of Refusal
Force Majeure
Business Day
Financial Year
Maintenance Costs
Occupancy Rights
Property Manager
Rental Income
Capital Proceeds
Dispute
Resolution Period
Valuation Date
Registered Interest
Title
Special Resolution
Ordinary Resolution
Initial Contribution
Additional Contribution
Management Committee
Operating Account
Reserve Fund
Distribution
Transfer Notice
Defaulting Partner
Security Interest
Permitted Use
Common Areas
Improvements
Associated Costs
Outgoings
Partnership Structure
Property Ownership
Financial Contributions
Capital Requirements
Property Management
Decision Making
Partner Rights and Obligations
Profit Distribution
Loss Allocation
Property Maintenance
Insurance Requirements
Transfer Restrictions
First Right of Refusal
Exit Rights
Buy-Out Provisions
Default and Remedies
Force Majeure
Dispute Resolution
Confidentiality
Death or Incapacity
Notices
Amendment
Severability
Governing Law
Property Usage
Mortgage Obligations
Tax Matters
Asset Management
Indemnification
Termination
Property Sale
Assignment
Further Assurance
Entire Agreement
Property Access
Meeting Procedures
Record Keeping
Bank Accounts
Insurance
Representations and Warranties
Real Estate
Financial Services
Legal Services
Property Management
Investment Services
Residential Property
Property Development
Banking
Professional Services
Family Services
Legal
Real Estate
Property Management
Financial Services
Compliance
Risk Management
Investment Advisory
Mortgage Services
Client Relations
Document Administration
Property Lawyer
Real Estate Agent
Financial Advisor
Property Manager
Investment Consultant
Legal Counsel
Conveyancer
Mortgage Broker
Estate Planning Advisor
Property Investment Specialist
Banking Relationship Manager
Trust Administrator
Property Development Manager
Compliance Officer
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