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  • Partnership agreement for investment

    PARTNERSHIP AGREEMENT FOR INVESTMENT OF TAX LIENS THIS PARTNERSHIP AGREEMENT (the “Agreement”), made as of ______, by and between the following persons, who shall be individually and collectively referred to in this Agreement as “Partners.” NAME ADDRESS ___________ [Instruction: Insert Address ___________ [Instruction: Insert Address ___________ [Instruction: Insert Address Name and Business. The Partners hereby associate themselves together as partners and hereby form a partnership under the name and style of: Investment Club (the “Partnership”) for the purpose of investing the assets of the Partnership in Tax liens and Tax deeds for the financial and educational benefit of the Partners, while employing fundamental principles and techniques of sound investment practices, and shall have the power to do all acts in furtherance of the Partnership business. Term. The Partnership shall commence on [date] and shall continue until dissolved by agreement of the Partners or terminated under the provisions of this Agreement. Place of Business. The Partnership's principal place of business shall be at [Business adress]. The Partnership shall maintain any other place or places of business agreed upon by the Partners. On regularly base, the Partnership shall have a scheduled meeting (the “Monthly Meeting”) at the principal place or of business or on skype to discuss the Partnership investments. Contributions. The Partnership shall establish a checking account at later to describe Bank(the Partnership Checking Account”). The Partners will each make a minimum investments of ……..Dollars ($00.000) (the “investment Contribution. Profits and Losses. Net profits and losses of the Partnership shall inure to, and be borne by, the Partners, in proportion to the value of each of their capital accounts. Book of Account. The Partnership books of account shall be accurately kept and shall include records of all Partnership income, expenses, assets, and liabilities. Each Partner shall have the right to inspect the Partnership books at any time. The Partnership's fiscal year shall end on December 31 of each year or at the end of a transaction. The book of account will be stored on dropbox and will be visible all the time for anybody. Accounting. The Partnership shall provide quarterly accountings of the Partnership affairs within forty five (45) days following the close of each applicable calendar quarter. At the time of each accounting, the net profits of the Partnership, as determined by generally accepted accounting principles, shall be distributed to the Partners. Management. Except as otherwise determined, all decisions shall be made by the Partners whose capital accounts total a majority of the value of the capital accounts of all the Partners. Addition of New Partners. No Additional Partners may be admitted at any time, upon the unanimous consent of the Partners. Team. The partners may designate a team for research, trading of securities; however, the partnership may not grant discretionary trading authority to any brokerage. Withdrawal and Dissociation. Upon thirty (30) days written notice, any Partner may dissociate from the Partnership by withdrawing as a Partner. The death of a Partner shall constitute a withdrawal and dissociation. On dissociation of a Partner, the remaining Partners may continue the Partnership business by purchasing the outgoing Partner's interest in the Partnership by paying the outgoing Partner the full value of their capital account as of the date of their withdrawal, within 30 days, except that if the repayment of the capital account of any dissociated Partner shall require the liquidation of securities, the repayment of the capital account may be postponed fourteen (14) additional days to allow a vote of the members to determine which securities to liquidate. Upon dissociation, the purchasing Partner(s) shall assume the outgoing Partner’s obligations. The purchasing Partner(s) shall hold and defend the outgoing Partner, as well as any property belonging to said Partner, free and harmless from all liability for Partnership obligations. Immediately upon purchase of the outgoing Partner's interest, the purchasing Partner(s) shall prepare, file, serve, and publish all notices required by law to protect the outgoing Partner from liability for future Partnership obligations. All costs incident to the requirements of this paragraph shall be borne by the purchasing Partner(s). Dissolution. Upon the occurrence of any of the following events, the Partnership shall be dissolved and the Partnership affairs shall be wound up: By agreement of the Partners; In the event that the investment with the tax lien or tax deed is closed; In the event that purchasing of the agreed tax lien of tax need not take place; In the event that the remaining Partners decline to exercise the option to purchase the dissociated Partner's interest pursuant to paragraph 12 hereof; or Dissolution is otherwise required by law. In connection with the winding up of the Partnership, the Partnership assets shall be liquidated, the Partnership’s obligations to creditors (including, to the extent permitted by law, Partners who are creditors) shall be paid, and the surplus shall be divided among the Partners pursuant to this Agreement within maximum 30 days after the winding up. Miscellaneous. This Agreement is an entire document and supersedes any and all other agreements, either oral or in writing, between the parties hereto. If any provision of this Agreement is held by a Court of competent jurisdiction to be invalid, void or unenforceable, it will be severed from it and the remaining provisions shall nevertheless continue in full force and effect without being impaired or invalidated in any way. This Agreement may only be amended or modified, in whole or in part, by an instrument in writing signed by all parties hereto. Any waiver by any Partner of a breach of any provision of this Agreement shall not operate or be construed as a waiver of any subsequent breach of the same or any other provision hereof. All notices required by these conditions to be written may be served by letter or fax. Notices to such Party shall be served at their address shown previously in this Agreement or such other address as such Party may have notified in writing to the others. This Agreement shall be construed in accordance with and governed for all purposes by the laws of the State of California, applicable to contracts executed and wholly performed therein. The Parties herein agree to submit to the personal jurisdiction and venue of Federal and State courts located in San Diego County, State of California . IN WITNESS WHEREOF this Agreement has been duly executed by the Partners as of the day and year first written above. ________________________________ [Instruction: sign] [Name] ________________________________ [Instruction: sign] [Name] PARTNERSHIP AGREEMENT FOR INVESTMENT OF TAX LIENS THIS PARTNERSHIP AGREEMENT (the “Agreement”), made as of ______, by and between the following persons, who shall be individually and collectively referred to in this Agreement as “Partners.” NAME ADDRESS ___________ [Instruction: Insert Address ___________ [Instruction: Insert Address ___________ [Instruction: Insert Address Name and Business. The Partners hereby associate themselves together as partners and hereby form a partnership under the name and style of: Investment Club (the “Partnership”) for the purpose of investing the assets of the Partnership in Tax liens and Tax deeds for the financial and educational benefit of the Partners, while employing fundamental principles and techniques of sound investment practices, and shall have the power to do all acts in furtherance of the Partnership business. Term. The Partnership shall commence on [date] and shall continue until dissolved by agreement of the Partners or terminated under the provisions of this Agreement. Place of Business. The Partnership's principal place of business shall be at [Business adress]. The Partnership shall maintain any other place or places of business agreed upon by the Partners. On regularly base, the Partnership shall have a scheduled meeting (the “Monthly Meeting”) at the principal place or of business or on skype to discuss the Partnership investments. Contributions. The Partnership shall establish a checking account at later to describe Bank(the Partnership Checking Account”). The Partners will each make a minimum investments of ……..Dollars ($00.000) (the “investment Contribution. Profits and Losses. Net profits and losses of the Partnership shall inure to, and be borne by, the Partners, in proportion to the value of each of their capital accounts. Book of Account. The Partnership books of account shall be accurately kept and shall include records of all Partnership income, expenses, assets, and liabilities. Each Partner shall have the right to inspect the Partnership books at any time. The Partnership's fiscal year shall end on December 31 of each year or at the end of a transaction. The book of account will be stored on dropbox and will be visible all the time for anybody. Accounting. The Partnership shall provide quarterly accountings of the Partnership affairs within forty five (45) days following the close of each applicable calendar quarter. At the time of each accounting, the net profits of the Partnership, as determined by generally accepted accounting principles, shall be distributed to the Partners. Management. Except as otherwise determined, all decisions shall be made by the Partners whose capital accounts total a majority of the value of the capital accounts of all the Partners. Addition of New Partners. No Additional Partners may be admitted at any time, upon the unanimous consent of the Partners. Team. The partners may designate a team for research, trading of securities; however, the partnership may not grant discretionary trading authority to any brokerage. Withdrawal and Dissociation. Upon thirty (30) days written notice, any Partner may dissociate from the Partnership by withdrawing as a Partner. The death of a Partner shall constitute a withdrawal and dissociation. On dissociation of a Partner, the remaining Partners may continue the Partnership business by purchasing the outgoing Partner's interest in the Partnership by paying the outgoing Partner the full value of their capital account as of the date of their withdrawal, within 30 days, except that if the repayment of the capital account of any dissociated Partner shall require the liquidation of securities, the repayment of the capital account may be postponed fourteen (14) additional days to allow a vote of the members to determine which securities to liquidate. Upon dissociation, the purchasing Partner(s) shall assume the outgoing Partner’s obligations. The purchasing Partner(s) shall hold and defend the outgoing Partner, as well as any property belonging to said Partner, free and harmless from all liability for Partnership obligations. Immediately upon purchase of the outgoing Partner's interest, the purchasing Partner(s) shall prepare, file, serve, and publish all notices required by law to protect the outgoing Partner from liability for future Partnership obligations. All costs incident to the requirements of this paragraph shall be borne by the purchasing Partner(s). Dissolution. Upon the occurrence of any of the following events, the Partnership shall be dissolved and the Partnership affairs shall be wound up: By agreement of the Partners; In the event that the investment with the tax lien or tax deed is closed; In the event that purchasing of the agreed tax lien of tax need not take place; In the event that the remaining Partners decline to exercise the option to purchase the dissociated Partner's interest pursuant to paragraph 12 hereof; or Dissolution is otherwise required by law. In connection with the winding up of the Partnership, the Partnership assets shall be liquidated, the Partnership’s obligations to creditors (including, to the extent permitted by law, Partners who are creditors) shall be paid, and the surplus shall be divided among the Partners pursuant to this Agreement within maximum 30 days after the winding up. Miscellaneous. This Agreement is an entire document and supersedes any and all other agreements, either oral or in writing, between the parties hereto. If any provision of this Agreement is held by a Court of competent jurisdiction to be invalid, void or unenforceable, it will be severed from it and the remaining provisions shall nevertheless continue in full force and effect without being impaired or invalidated in any way. This Agreement may only be amended or modified, in whole or in part, by an instrument in writing signed by all parties hereto. Any waiver by any Partner of a breach of any provision of this Agreement shall not operate or be construed as a waiver of any subsequent breach of the same or any other provision hereof. All notices required by these conditions to be written may be served by letter or fax. Notices to such Party shall be served at their address shown previously in this Agreement or such other address as such Party may have notified in writing to the others. This Agreement shall be construed in accordance with and governed for all purposes by the laws of the State of California, applicable to contracts executed and wholly performed therein. The Parties herein agree to submit to the personal jurisdiction and venue of Federal and State courts located in San Diego County, State of California . IN WITNESS WHEREOF this Agreement has been duly executed by the Partners as of the day and year first written above. ________________________________ [Instruction: sign] [Name] ________________________________ [Instruction: sign] [Name] word-icon
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