Many commercial real estate transactions and developments are the result of a joint venture or a partnership. These types of arrangements allow investors, capital firms, and developers to come together and complete a project, and with all parties typically enjoying some level of ownership or control. While these types of arrangements can be quite lucrative for everyone involved, they can also be complicated. Poorly negotiated terms and badly drafted agreements can result in deals falling through, projects not being completed, and parties resorting to litigation. Having a qualified attorney during the creation of any agreements can help prevent these types of negative outcomes. Vivid Niroula is an Oklahoma commercial real estate lawyer who assists joint ventures and partnerships. Contact us online or by telephone today to schedule an initial consultation.
OKC real estate lawyer helping to draft joint venture & partnership agreements
A joint venture often involves investors, lenders, and developers agreeing to jointly purchase a section of property for a specific purpose. This purpose may be to create a commercial building for lease or to eventually sell the land off as multiple developed units. Likewise, parties often enter into partnerships in which one entity agrees to handle one specific part of a project while another party deals with another aspect. Disagreements can quickly arise, however, when it is not clear as to who is responsible for a given action, how profits are to be distributed, how ownership is allocated, and how contingencies can impact the situation. Such problems can be avoided by negotiating, and reducing to writing, an agreement that clearly spells out decision-making authority, management obligations, the voting authority of certain members, etc.
Vivid Niroula is an OKC real estate lawyer who assists groups with forming joint ventures and partnerships as well as with managing their ongoing affairs. Vivid will gain an understanding of the situation and work to identify the goals of all parties involved. He will then draft a provision that spells out the rights and obligations of all parties. In addition to clearly spelled out guarantees to everyone involved, Vivid will include provisions in the agreement that address a multitude of scenarios. These provisions may relate to what happens when an entity exits the venture, the option to buy out other members, how money is to be distributed or applied if the property is refinanced, and the allocation of proceeds upon sale of the property. Our firm understands that there can be great rewards in such ventures, but that they must be set up and properly maintained to prevent problems. We work to foresee all possibilities and ensure that your needs are met. Contact us online or by telephone today.
Real estate lawyers assisting real estate ventures with all aspects of their ongoing needs
Creating a joint venture or a partnership means that you will be dealing with your new business associates for the long-term. It is important that all ongoing issues be addressed in order to avoid conflict. We also recognize that one of the best ways to avoid conflicts is to prevent them in the first place. This is why we work to identify risk areas in the beginning and have solutions built into your partnership and operating agreements. We also assist with property financing, contracts for acquiring property, and structuring other aspects of a transaction. Once the project is off and running, we then assist with necessary document revisions, amendments to operating agreements and more. In short, we work to foresee your needs and work to be proactive in dealing with them.
Our firm is also able to assist in matters involving commercial real estate transactions, negotiating purchase and sale agreements, and dealing with distressed real estate assets. In addition to Oklahoma City, we also assist individuals in Edmond, Norman, Mustang, Nichols Hills, Yukon, El Reno, Shawnee, Chandler, Stillwater, and throughout the rest of the state.
