Joint Venture Agreement for Land Development

Summary

This template of a joint venture agreement for land development may be used with an individual property owner contributing land and a corporate entity contributing its skill and services to develop and sell a residential development. This template includes practical guidance, drafting notes, and alternate clauses. This template is a typical joint venture arrangement because it draws together separate parties with different kinds of contributions and its scope is limited to a single project that will terminate at a given—although presently unknown—point in time. This template contains clauses that will be helpful for any joint venture. Of particular importance are the indemnity clause, the insurance clause, and the "entire agreement" clause (to ensure that this agreement constitutes the fully integrated agreement of the parties). For more on joint venture agreements in real estate, see Real Estate Joint Ventures and Real Estate Joint Ventures for Commercial Real Estate Development.