Shared Equity Agreements For Nonprofit Organizations In Fairfax

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The County Executive&#039;s Office focuses on strategic planning, ensuring and valuing excellence in public service, fostering partnerships with our residents and community leaders, preparing the annual budget and executing all resolutions and orders of our elected Board of Supervisors.

Category:

Real Estate - Contracts - Equity

State:

Multi-State

County:

Fairfax

Control #:

US-00036DR

Format:

Instant download

Description

The Equity Share Agreement is a legal document designed for nonprofit organizations in Fairfax that outlines the terms of a shared equity venture between two parties, referred to as Alpha and Beta. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants who are involved in real estate investments or cooperative housing models. Key features of the form include sections on purchase price, investment amounts, property occupancy, and the distribution of sale proceeds. It also details the responsibilities regarding maintenance and utilities, and sets forth how profits and losses are to be divided based on ownership percentages. Filling out this agreement involves entering the names and addresses of the parties, the investment amounts, and the financial institution handling the loan, among other details. The form emphasizes the intention of both parties to participate in the appreciation of property value and outlines procedures for handling disputes through mandatory arbitration. By using this form, legal professionals can ensure that all parties have a clear understanding of their rights and obligations, thus facilitating smoother transactions.

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FAQ

The Virginia Human Rights Act (Title 2.2, Chapter 39 of the Virginia Code) protects employees against employment-based discrimination on the basis of certain characteristics, such as race, national origin, and pregnancy.

The County Executive's Office focuses on strategic planning, ensuring and valuing excellence in public service, fostering partnerships with our residents and community leaders, preparing the annual budget and executing all resolutions and orders of our elected Board of Supervisors.

One Fairfax is a joint racial and social equity policy of the Fairfax County Board of Supervisors and School Board. The 2016 One Fairfax Resolution commits the county and schools to intentionally consider equity when making policies or delivering programs and services.

In 2022, Fairfax County, VA had a population of 1.15M people with a median age of 38.6 and a median household income of $145,165. Between 2021 and 2022 the population of Fairfax County, VA declined from 1.15M to 1.15M, a −0.128% decrease and its median household income grew from $133,974 to $145,165, a 8.35% increase.

With the recognition that future economic growth requires the full participation of all Fairfax County populations and places, the proposed strategies in this section focus on building the earning power of residents, supporting startups and small businesses, strategically investing in people and places with lower ...