Real estate joint venture agreements are complex.
Learn how to avoid and resolve conflicts associated with them. Raising capital for or investing in an asset or a purchase can often involve the need to form a joint venture or an investment vehicle. A seller of an asset may also choose to bring in a joint venture partner rather than complete an outright sale. Joint venture partners need to reach agreement on certain key terms of their relationship in a way that allows the parties to move forward with the relationship with a clear understanding of how the venture will be managed, the responsibility of and credits to each party for capital infusions, if any, and the rights of each party to receive the profits from the project and the return of their capital. Obligations of each party as to financing may also be an issue, including lender required guarantees. Frequently, these issues have significant tax consequences which need to be considered and addressed in the document. This program will address these issues with a focus on enabling the participant to identify issues of concern, understand the typical range of solutions in the market and assure that the negotiated documents reflect the agreed upon terms. While the focus will be on joint ventures, typically involving fewer members, some of the issues may be equally relevant to investment vehicles.
Credit
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Why Lorman?
Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Key Issues in Joint Ventures
- Contributions and Valuation of Non-Cash Contributions
- Management and Control of Entity
- Distribution Waterfall and Return of Capital
Contribution Issues
- Contribution Value of Property Contributed
- What Are the Obligations and Need for Further Capital
- Impact of a Failure to Contribute
Management Issues
- Managing Member or Manager
- Authority of Manager and Limitations
- Voting Deadlock or Internal Disharmony
Distribution Waterfall
- Single or Dual Distribution Structure (i.e. Income vs. Capital Events)
- Preferred Return
- Return of Capital
- Promotional Share
Credit
More Program Information
Why Lorman?
Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on January 30, 2019.
Call 1-866-352-9540 for further credit information.
- CA MCLE 1.5
- Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
- WA CLE 1.5
- This program has been approved by the Washington State Board of Continuing Legal Education for 1.5 hours of A/V credit under the Law & Legal Procedure category.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
Credit
More Program Information
Why Lorman?
Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty

Kenneth S. Kramer
Nossaman LLP
- Partner with Nossaman LLP
- More than 35 years of experience as a real estate attorney
- National practice involves advising developers and investors on a full spectrum of office, industrial, and retail property and portfolio transactions, including acquisitions and dispositions, leasing, financing, joint ventures, workouts and distressed transactions, and alternative energy transactions
- Former chair of Nossaman’s Real Estate Transactions Practice Group, and is the firm’s current assistant managing partner
- Lectured on a variety of real estate topics, including purchase and sale transactions and leasing
- J.D. degree, University of Southern California School of Law; B.A. degree, University of Pennsylvania
Credit
More Program Information
Why Lorman?
Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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