USA Real Estate General Partnership Agreement

Set up a general partnership for buying, developing and leasing real estate properties with this USA Real Estate General Partnership Agreement template.

• Cash flow of the partnership will be distributed among the partners in the same proportion as profits and losses are allocated.
• If the income produced by the partnership properties is not sufficient to pay operating costs, the partners will contribute additional funds in proportion to their capital interests.
• If a partner fails to make his/her contribution, the other partners may contribute additional funds, which may be treated either as additional capital or as a loan to the defaulting partner.
• A partner may transfer all or part of his interest to or for the benefit of a spouse or descendant(s), at any time.
• If a partner wants to transfer all or part of his interest to someone other than a family member, the other partners have a first right of refusal to purchase the interest.
• The partnership can be terminated by a majority vote (based on interests). Upon termination the partnership assets will be sold and any net proceeds will be distributed to the partners in proportion to their capital interests.

The USA Real Estate General Partnership Agreement template is available as a downloadable Microsoft Word file, which is fully customizable to meet your needs.