Real Estate Operating Agreement LLC Template for Singapore

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Key Requirements PROMPT example:

Real Estate Operating Agreement LLC

"Need a Real Estate Operating Agreement LLC for a new Singapore property management venture with tHRee founding members, focusing on commercial real estate, with specific provisions for quarterly profit distributions and a detailed property acquisition approval process."

Document background
The Real Estate Operating Agreement LLC serves as the fouNDAtional document for real estate ventures structured as LLCs in Singapore. This agreement is essential when multiple parties come together to invest in, develop, or manage real estate assets tHRough an LLC structure. It addresses crucial aspects including capital contributions, profit sharing, management rights, property operations, and member obligations. The document ensures compliance with Singapore's Companies Act and real estate regulations while providing clear guidelines for business operations and dispute resolution. It's particularly important for protecting member interests and establishing clear operational procedures in real estate ventures.
Suggested Sections

1. Parties: Identification and details of all parties to the agreement

2. Background: Context and purpose of the operating agreement

3. Definitions: Key terms used tHRoughout the agreement

4. Company Formation: Details of LLC structure and initial setup

5. Management Structure: Roles, responsibilities, and decision-making processes

6. Capital Contributions: Initial and ongoing financial commitments

7. Profit and Loss Distribution: How financial returns will be shared

8. Operations: Day-to-day management of real estate activities

Optional Sections

1. Additional Capital Contributions: Procedures for requesting additional capital when future capital calls are anticipated

2. Buy-Sell Provisions: Procedures for ownership transfers when transfer restrictions are needed

3. Property Management: Specific property management duties when company manages properties directly

Suggested Schedules

1. Schedule A - Property Details: List and details of properties owned/managed

2. Schedule B - Initial Capital Contributions: Detailed breakdown of members' initial investments

3. Schedule C - Management Structure: Organizational chart and reporting lines

4. Appendix 1 - Property Management Procedures: Standard operating procedures for property management

5. Appendix 2 - Financial Reporting Templates: Standard formats for financial reporting

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions
Industries

Companies Act (Chapter 50): Primary legislation governing business entities in Singapore, including LLC formation, operational requirements, and corporate governance structures

Limited Liability Partnerships Act: While primarily for LLPs, contains relevant principles for partnership structures and liability protection that may inform LLC agreements

Civil Law Act (Chapter 43): Contains fundamental contract law principles and property transactions regulations applicable to real estate agreements

Residential Property Act: Governs residential property ownership and transactions in Singapore

Land Titles Act: Regulates land ownership, registration, and transfer of property titles in Singapore

Conveyancing and Law of Property Act: Governs the transfer of property rights and real estate transactions

Planning Act: Controls land use and development in Singapore

Building Control Act: Regulates building construction and safety standards

Estate Agents Act: Regulates real estate agencies and agents, including their duties and responsibilities

Housing Developers Act: Controls and licenses housing developers, protecting buyers' interests

Building Maintenance and Strata Management Act: Governs management of strata-titled properties and common property

Stamp Duties Act: Regulates taxes and duties applicable to property transactions in Singapore

Environmental Protection and Management Act: Ensures environmental protection standards in real estate development and operations

Environmental Public Health Act: Governs public health standards relevant to property management and maintenance

SLA Guidelines: Singapore Land Authority guidelines governing land use and management

URA Regulations: Urban Redevelopment Authority regulations controlling urban planning and property development

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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