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Real Estate LLC Operating Agreement
"I need a Real Estate LLC Operating Agreement for a new Dubai-based property management company starting operations in March 2025, with three individual shareholders and specific provisions for both residential and commercial property management services."
1. Parties: Identification of all members/shareholders of the LLC
2. Background: Context of the agreement formation and company establishment
3. Definitions and Interpretation: Key terms used throughout the agreement and interpretation rules
4. Formation and Name: Details of company formation, trade name, and registration requirements
5. Purpose and Powers: Company's real estate focused business objectives and permitted activities
6. Principal Place of Business: Registered office and branch locations
7. Term: Duration of the LLC and conditions for continuation
8. Capital Structure: Share capital, contribution requirements, and capital increase provisions
9. Members' Rights and Obligations: Rights, responsibilities, and obligations of LLC members
10. Management Structure: Governance framework, manager appointments, and decision-making processes
11. Real Estate Operations: Specific provisions for real estate activities and licensing requirements
12. Financial Matters: Financial management, accounts, auditing, and distribution policies
13. Transfer of Shares: Share transfer restrictions and procedures
14. Exit Provisions: Member withdrawal, buy-out procedures, and valuation methods
15. Regulatory Compliance: Compliance with UAE real estate and corporate laws
16. Dissolution and Liquidation: Procedures for company dissolution and asset distribution
17. General Provisions: Miscellaneous legal provisions including notices, amendments, and governing law
1. Property Management Services: Include when the LLC will provide property management services
2. Development Projects: Include when the LLC will engage in real estate development
3. International Operations: Include for companies planning to operate in multiple jurisdictions
4. Shariah Compliance: Include for Islamic-compliant real estate operations
5. Franchise Operations: Include if operating as part of a real estate franchise network
6. Joint Venture Provisions: Include when the LLC is part of a joint venture structure
7. Intellectual Property: Include when the LLC owns or licenses significant IP assets
8. Employee Profit Sharing: Include if implementing employee ownership programs
1. Schedule 1: Members' Information: Detailed information about members, including share ownership and contact details
2. Schedule 2: Initial Business Plan: Detailed business strategy and operational plans
3. Schedule 3: Capital Contributions: Specific details of initial and planned capital contributions
4. Schedule 4: Property Portfolio: List of properties owned or managed by the LLC
5. Schedule 5: Management Structure: Detailed organizational structure and management responsibilities
6. Schedule 6: Financial Procedures: Detailed financial management and reporting procedures
7. Schedule 7: Regulatory Licenses: List of required licenses and permits
8. Appendix A: Share Transfer Forms: Standard forms for share transfers
9. Appendix B: Power of Attorney Templates: Standard POA forms for company operations
10. Appendix C: Key Performance Indicators: Metrics for evaluating company and management performance
Authors
Articles of Association
Board
Business Day
Business Plan
Capital Account
Capital Contribution
Commercial License
Company
Confidential Information
Default Event
Directors
Dispute
Distribution
Effective Date
Encumbrance
Financial Year
General Assembly
Governing Law
Initial Capital
Intellectual Property Rights
Legal Representative
License
Liquidation Event
Manager
Member
Memorandum of Association
Net Profit
Operating Expenses
Property
Property Management Services
Quorum
Real Estate Activities
Real Estate Asset
RERA
Reserved Matters
Resolution
Share Capital
Shareholders
Share Transfer
Statutory Books
Subsidiary
Term
Territory
Trade License
Transfer
UAE
Valuation
Purpose
Term
Capital Contribution
Share Capital
Membership
Management
Board of Directors
Voting Rights
Transfer Restrictions
Property Management
Real Estate Operations
Financial Management
Distributions
Books and Records
Confidentiality
Non-Competition
Intellectual Property
Regulatory Compliance
Insurance
Indemnification
Default
Termination
Dissolution
Exit Rights
Tag Along Rights
Drag Along Rights
Pre-emptive Rights
Valuation
Dispute Resolution
Governing Law
Force Majeure
Notices
Assignment
Amendment
Severability
Entire Agreement
Third Party Rights
Property Acquisition
Asset Management
Environmental Compliance
Health and Safety
Anti-Money Laundering
Data Protection
Power of Attorney
Real Estate Development
Property Management
Commercial Real Estate
Residential Real Estate
Real Estate Investment
Property Leasing
Construction
Facilities Management
Real Estate Brokerage
Real Estate Advisory
Property Technology
Real Estate Finance
Legal
Compliance
Corporate Governance
Real Estate Operations
Property Management
Finance
Risk Management
Business Development
Asset Management
Investment
Board of Directors
Executive Management
Shareholder Relations
Corporate Services
CEO
Managing Director
Real Estate Director
Property Manager
Legal Counsel
Compliance Officer
Company Secretary
Chief Financial Officer
Operations Director
Business Development Manager
Asset Manager
Facilities Manager
Real Estate Investment Manager
Board Member
Shareholder Relations Manager
Risk Management Officer
Corporate Governance Officer
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