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Real Estate Holding Company Operating Agreement
"I need a Real Estate Holding Company Operating Agreement for a family-owned business with three siblings as equal members, focusing on residential property investments in Ontario, with specific succession planning provisions to be implemented by March 2025."
1. Parties: Identifies all members/shareholders of the real estate holding company
2. Background: Outlines the purpose of forming the real estate holding company and its intended business activities
3. Definitions: Defines key terms used throughout the agreement
4. Formation and Name: Details of company formation, registered name, and jurisdiction
5. Principal Place of Business: Registered office address and any additional business locations
6. Purpose and Powers: Specific purposes of the company and its powers in conducting real estate operations
7. Capital Contributions: Initial and additional capital contribution requirements from members
8. Membership Interests: Details of ownership percentages and classes of membership interests
9. Management Structure: Governance structure and management responsibilities
10. Meetings and Voting: Procedures for member meetings and voting requirements
11. Real Estate Acquisitions and Dispositions: Procedures for acquiring and selling property assets
12. Distributions: Rules for distributing profits and losses among members
13. Books and Records: Requirements for maintaining company records and financial statements
14. Transfer Restrictions: Limitations on transferring membership interests
15. Dissolution and Liquidation: Procedures for company dissolution and asset distribution
16. General Provisions: Miscellaneous legal provisions including governing law, amendments, and notices
1. Foreign Ownership Provisions: Required when any members are non-Canadian residents, addressing Investment Canada Act compliance
2. Property Management: Include when the company will self-manage properties rather than outsource management
3. Development Projects: Include when the company plans to engage in property development activities
4. Financing Arrangements: Special provisions for company borrowing and lending activities
5. Environmental Compliance: Detailed environmental obligations when holding properties with environmental risks
6. Right of First Refusal: Include when members want priority rights to purchase properties or membership interests
7. Buy-Sell Provisions: Include when members want specific mechanisms for buying out other members
8. Family Succession Planning: Include for family-owned companies requiring specific succession provisions
1. Schedule A - Member Information: Details of all members including contact information and initial capital contributions
2. Schedule B - Property Schedule: List of all properties owned by the company with legal descriptions and acquisition details
3. Schedule C - Management Agreement: If applicable, agreement with property management company
4. Schedule D - Initial Capital Structure: Detailed breakdown of initial capitalization and ownership structure
5. Schedule E - Authorized Signatories: List of individuals authorized to sign various documents on behalf of the company
6. Appendix 1 - Property Management Procedures: Detailed procedures for property management if self-managed
7. Appendix 2 - Financial Reporting Requirements: Specific requirements for financial statements and reports
8. Appendix 3 - Transfer Procedures: Detailed procedures for transferring membership interests
Authors
Real Estate
Property Development
Property Management
Commercial Real Estate
Residential Real Estate
Real Estate Investment
Construction
Property Technology
Financial Services
Asset Management
Legal
Real Estate Operations
Corporate Governance
Executive Leadership
Finance
Investment
Compliance
Asset Management
Property Management
Corporate Administration
Real Estate Investment Manager
Property Portfolio Manager
Corporate Lawyer
Real Estate Attorney
Chief Executive Officer
Chief Financial Officer
Chief Operating Officer
Real Estate Development Director
Asset Manager
Company Secretary
Board Director
Compliance Officer
Real Estate Operations Manager
Investment Analyst
Corporate Governance Officer
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