Property Law: 23 March 2019
Property Development Joint Ventures can be structured in a variety of ways - with or without companies, trusts or formal partnerships. When choosing the right structure, there is no 'one size fits all' answer, which means you need lawyers who can tailor your joint venture agreement.
Factors which impact on the choice include the identity of the parties, their relationship with each other, the degree of flexibility required to change the membership of the group, the contribution each is to make to the Joint Venture, liability/asset protection, governance and tax.
The essentials of a successful joint venture are a good project, a good developer and sound legal documentation that ensures an appropriate allocation of responsibilities, risk and reward.