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Joint ventures are commonly formed between two or more entities for purchasing, developing, and managing real property. Parties to the joint venture usually enter into a written agreement allocating and sharing the associated responsibilities, liabilities, expenses, and profits. A well-negotiated joint venture agreement also contemplates the eventual sale of the project and related exit strategies. Check out this forced sale clause for use in a 90/10 real estate joint venture agreement allowing a joint venture member to force a property sale.
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