Investing with friends - legal agreement?

Hi,

We are considering investing with friends of ours. What sort of legal agreement is best for this sort of thing? Anyone have any experiences to share, things we should look out for?

Thx

You will need a written agreement setting out how it will all work and should include things such as:
- whose name title is in
- loans
- contributions of money
- contributions of time, who does what etc
- what happens if one wants out and the other doesn't
etc

Look out for bankruptcy of your partner and/or future claims of spouses.

Terryw
Finance Broker
Solicitor

Hi MrsC

I'm not sure what State you're in but Tony Cordato of Cordato Partners Lawyers has a Joint Venture Agreement that covers all the points Terry mentioned above.  His phone number is 02 8297 5600.

Cheers,  Paul

Paul Dobson - Vendor Financier - http://www.negative2positive.com.au
Ph: 0447 973 235 - http://www.jvpropertypartners.com.au
http://www.vendorfinanceinstitute.com.au

Thanks terry and paul.

Im in Perth, Any recommedationss for good Perth lawyers?

try Brett Davies Lawyers

Terryw
Finance Broker
Solicitor

Hi Guys,

Any recommendations for Melbourne lawyers?

cheers.

Hi rishi78

In Victoria we use Lewis O'brien at:

Lewis O’Brien & Associates
Suite 113 
89 High Street 
Kew   Victoria   3101

phone: 03 9888 6388
fax: 03 9888 6366
email: info@lewisobrien.com.au

Cheers,  Paul

Paul Dobson - Vendor Financier - http://www.negative2positive.com.au
Ph: 0447 973 235 - http://www.jvpropertypartners.com.au
http://www.vendorfinanceinstitute.com.au

Hi Paul,

Do you know how much they charge for preparing a JV agreement?

Thanks,
rishi78

Hi rishi78

I think Tony, in NSW, charges about $450.  Not sure about Lewis.

Cheers,  Paul 

Paul Dobson - Vendor Financier - http://www.negative2positive.com.au
Ph: 0447 973 235 - http://www.jvpropertypartners.com.au
http://www.vendorfinanceinstitute.com.au