The Real Estate Partnership Agreement is essential for parties seeking to establish a formal partnership structure for real estate investment and operations in New Zealand. This document is typically used when two or more parties wish to combine their resources, expertise, and capital to invest in, develop, or manage real estate assets. The agreement encompasses crucial elements such as capital contributions, profit-sharing mechanisms, management structures, and exit strategies, all while ensuring compliance with New Zealand's Partnership Act 1908, Real Estate Agents Act 2008, and other relevant legislation. It serves as the foundational document governing the relationship between partners and provides clear frameworks for decision-making, dispute resolution, and partnership evolution over time.
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1. Parties: Identification and details of all partners entering into the agreement
2. Background: Context of the partnership formation and its intended purpose in real estate investment
3. Definitions and Interpretation: Detailed definitions of terms used throughout the agreement and rules for interpretation
4. Partnership Structure: Legal structure, partnership shares, and capital contributions
5. Purpose and Scope: Defined business objectives and scope of partnership activities
6. Capital Contributions: Initial and ongoing capital requirements, timing, and process for contributions
7. Profit and Loss Distribution: Formula and timing for distributing profits and allocating losses
8. Management and Decision Making: Governance structure, voting rights, and decision-making processes
9. Property Management: Procedures for acquiring, managing, and disposing of real estate assets
10. Banking and Financial Management: Banking arrangements, accounting procedures, and financial controls
11. Partner Duties and Obligations: Responsibilities, commitments, and expectations of each partner
12. Restrictions on Partners: Non-compete, confidentiality, and other restrictive covenants
13. Duration and Termination: Term of partnership and circumstances for termination
14. Exit Provisions: Procedures for partner withdrawal, retirement, or death
15. Dispute Resolution: Process for resolving conflicts between partners
16. General Provisions: Standard legal clauses including notices, amendments, and governing law
1. Intellectual Property: Required when the partnership develops or uses significant IP assets such as proprietary property management systems
2. Employment Matters: Needed when the partnership will directly employ staff
3. Insurance Requirements: Detailed insurance obligations beyond standard coverage
4. Development Projects: Include when partnership involves property development activities
5. External Financing: Required when partnership will seek third-party financing
6. International Investments: Include for partnerships planning to invest in overseas properties
7. Property Management Services: Required when partnership will provide property management services to third parties
1. Schedule 1: Initial Capital Contributions: Detailed breakdown of each partner's initial capital contribution
2. Schedule 2: Property Portfolio: List and details of properties owned by the partnership
3. Schedule 3: Management Structure: Detailed organizational structure and management responsibilities
4. Schedule 4: Distribution Policy: Detailed profit distribution methodology and procedures
5. Schedule 5: Valuation Methodology: Agreed methods for valuing partnership assets
6. Appendix A: Partner Contact Details: Contact information and notice details for all partners
7. Appendix B: Business Plan: Initial business plan and investment strategy
8. Appendix C: Due Diligence Requirements: Standard due diligence checklist for property acquisitions
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Development
Property Investment
Commercial Property
Residential Property
Real Estate Management
Property Services
Construction
Real Estate Finance
Property Technology
Relevant Teams
Legal
Real Estate
Investment
Finance
Compliance
Operations
Development
Asset Management
Property Management
Risk Management
Business Development
Strategy
Relevant Roles
Real Estate Investment Manager
Property Development Director
Real Estate Partner
Investment Director
Asset Manager
Property Portfolio Manager
Real Estate Legal Counsel
Investment Analyst
Chief Investment Officer
Managing Partner
Real Estate Operations Manager
Development Manager
Financial Controller
Compliance Officer
Real Estate Agent
Property Acquisition Manager
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