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Real Estate Partnership Buyout Agreement
"I need a Real Estate Partnership Buyout Agreement for my client who is exiting a three-partner commercial property venture in Manchester, with a completion date of March 1, 2025, including specific provisions for ongoing property management during a 6-month transition period."
1. Parties: Identification of all partners involved in the buyout
2. Background: History of partnership and reason for buyout
3. Definitions: Key terms used throughout the agreement
4. Purchase Price and Payment Terms: Agreed valuation and payment structure
5. Transfer of Interest: Terms of partnership interest transfer
6. Completion Requirements: Actions required to complete the buyout
7. Representations and Warranties: Standard partnership and property warranties
8. Release and Indemnities: Mutual releases and ongoing liabilities
1. Property Management Transition: Required when ongoing property management needs transfer
2. Tenant Notifications: Provisions for informing existing tenants
3. Mortgage Arrangements: Handling of existing mortgages and transfer of obligations
1. Schedule of Properties: List of all properties owned by partnership with their details
2. Valuation Report: Professional valuation of partnership interests and properties
3. Outstanding Liabilities Schedule: List of partnership debts and obligations
4. Transfer Documents: Property transfer forms and registration documents
5. Due Diligence Report: Property and financial due diligence findings
Authors
Business Day
Completion
Completion Date
Confidential Information
Continuing Partners
Encumbrance
Exiting Partner
Initial Payment
Liabilities
Partnership
Partnership Assets
Partnership Interest
Partnership Property
Properties
Purchase Price
Relevant Period
Security Interest
Title Documents
Transfer Documents
Valuation
Valuation Date
Working Capital
Outstanding Obligations
Material Contracts
Tenant Leases
Property Management Agreements
Management Accounts
Completion Accounts
Partner's Share
Effective Date
Due Diligence Information
Warranties
Claims
Permitted Encumbrances
Sale and Purchase
Purchase Price
Payment Terms
Completion
Pre-Completion Obligations
Post-Completion Obligations
Property Transfer
Title Warranties
Partnership Warranties
Release of Liabilities
Indemnities
Confidentiality
Non-Competition
Property Management
Outstanding Obligations
Tax Matters
Insurance
Intellectual Property
Data Protection
Notices
Assignment
Severability
Entire Agreement
Variation
Waiver
Costs
Third Party Rights
Governing Law
Jurisdiction
Force Majeure
Dispute Resolution
Further Assurance
Announcements
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