Participation in building construction contract
آوریل 13, 2023Partnership agreement
آوریل 13, 2023[Date]
[Party A Name] [Address] [City, State ZIP Code]
[Party B Name] [Address] [City, State ZIP Code]
Partition Contract
This Partition Contract (the “Agreement”) is made and entered into on [Date] by and between [Party A Name] (“Party A”), and [Party B Name] (“Party B”) (collectively, the “Parties”).
Background
Party A and Party B jointly own real property located at [Property Address] (the “Property”).
Party A and Party B desire to partition the Property in accordance with the terms of this Agreement.
Agreement
- Partition. The Parties agree to partition the Property as follows:
- [Describe the division of the Property between the Parties, including any physical alterations, additions or improvements to be made].
- Access. Each Party shall have access to their respective partitioned portion of the Property and the right to use the common areas of the Property.
- Taxes and Expenses. Each Party shall be responsible for their respective portion of the property taxes, assessments, and other expenses associated with their partitioned portion of the Property.
- Indemnification. Each Party shall indemnify, defend, and hold harmless the other Party, their agents, employees, and contractors from any claims, damages, expenses, or losses arising from any acts or omissions by the indemnifying Party or their agents, employees, or contractors.
- Governing Law. This Agreement shall be governed by and construed in accordance with the laws of [State].
- Entire Agreement. This Agreement constitutes the entire agreement between the Parties and supersedes all prior and contemporaneous understandings, agreements, or representations, whether oral or written.
- Amendments. This Agreement may only be amended in writing and signed by both Parties.
- Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
IN WITNESS WHEREOF, the Parties have executed this Partition Contract as of the date first written above.
[Party A Name]
By: ________________________________ Name: ______________________________ Title: _______________________________
[Party B Name]
By: ________________________________ Name: ______________________________ Title: _______________________________
