The Real Estate Partnership Agreement is essential for parties looking to collaborate on real estate ventures in Belgium. It is typically used when two or more parties wish to pool their resources, expertise, and capital for property investment, development, or management projects. The document must comply with Belgian legal requirements, including the Civil Code, Company Code, and regional property regulations. It covers crucial aspects such as capital contributions, profit sharing arrangements, management structures, property administration, and exit strategies. This agreement is particularly important in the Belgian context due to the country's complex regional property laws and specific requirements for partnership structures. It provides a formal framework for the partnership while ensuring compliance with local regulatory requirements, including those related to property registration, urban planning, and environmental regulations.
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1. Parties: Identification and details of all partners entering the agreement
2. Background: Context of the partnership formation and its objectives
3. Definitions and Interpretation: Key terms used throughout the agreement and rules for interpretation
4. Partnership Structure: Legal form of the partnership and its registration details
5. Property Details: Specification of the real estate assets included in the partnership
6. Capital Contributions: Details of initial and ongoing capital contributions from each partner
7. Ownership and Profit Sharing: Partnership interests and profit distribution mechanisms
8. Management and Decision Making: Governance structure and voting rights
9. Financial Management: Accounting procedures, banking arrangements, and financial reporting
10. Property Management: Responsibilities for property maintenance and management
11. Transfer of Interests: Rules for transferring partnership interests
12. Term and Termination: Duration of partnership and termination procedures
13. Dispute Resolution: Procedures for resolving conflicts between partners
14. Governing Law: Confirmation of Belgian law application and jurisdiction
15. General Provisions: Standard boilerplate clauses including notices, amendments, etc.
1. Development Projects: Include when partnership involves property development activities
2. Financing Arrangements: Include when external financing or mortgages are involved
3. Property Letting: Include when partnership involves rental property management
4. Environmental Compliance: Include for properties with specific environmental considerations
5. Tax Structure: Include when specific tax planning arrangements are agreed
6. Insurance Requirements: Include detailed insurance provisions for high-value properties
7. Asset Management: Include for partnerships with multiple properties requiring active management
8. Regional Specific Provisions: Include specific provisions based on property location (Brussels/Wallonia/Flanders)
1. Schedule 1 - Property Details: Detailed description of properties including cadastral details and certificates
2. Schedule 2 - Initial Capital Contributions: Detailed breakdown of each partner's initial contributions
3. Schedule 3 - Valuation Report: Professional valuation of the property assets
4. Schedule 4 - Management Procedures: Detailed procedures for day-to-day management
5. Schedule 5 - Financial Procedures: Detailed accounting and financial management procedures
6. Appendix A - Property Plans: Official plans and drawings of the properties
7. Appendix B - Partner Information: Detailed information about each partner including KYC documentation
8. Appendix C - Required Permits: Copies of all relevant permits and certificates
9. Appendix D - Insurance Certificates: Copies of insurance policies and certificates
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