Equitable Sharing Agreement And Certification In Los Angeles

Q: What is the federal equitable sharing program?

The U.S. Department of Justice&#039;s equitable sharing program is designed to enhance cooperation among federal, state, and local law enforcement agencies through the sharing of proceeds resulting from federal forfeitures.

Q: What is the purpose of asset forfeiture?

The Asset Forfeiture Program&#039;s primary goals are: To punish and deter criminal activity by depriving criminals of property used in or acquired through illegal activities. To promote and enhance cooperation among federal, state, local, tribal, and foreign law enforcement agencies.

Category:

Real Estate - Contracts - Equity

State:

Multi-State

County:

Los Angeles

Control #:

US-00036DR

Format:

Instant download

Description

The Equitable Sharing Agreement and Certification in Los Angeles outlines a partnership between two investors, Alpha and Beta, who intend to purchase residential property for investment. This agreement details the purchase price, down payment contributions, and the financing arrangements between the parties. It establishes ownership as tenants in common and defines their respective responsibilities, particularly in regard to the maintenance of the property and the equitable sharing of expenses. Important sections include the handling of proceeds upon the sale of the house, the intentions of the parties regarding property appreciation, and procedures in the event of death. This form is designed to ensure clarity and outline mutual obligations, making it a useful tool for individuals looking to invest in real estate in a shared capacity. Legal professionals such as attorneys, paralegals, and associates can leverage this agreement to facilitate clear investment terms and protect client interests. Meanwhile, partners and owners can utilize it to formalize their financial agreement and clarify roles and responsibilities, thus minimizing potential disputes.

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FAQ

Through equitable sharing, any state or local law enforcement agency that directly participates in a law enforcement effort that results in a federal forfeiture may either request to put tangible forfeited property into official use or an equitable share of the net proceeds of the forfeiture.

The U.S. Department of Justice's equitable sharing program is designed to enhance cooperation among federal, state, and local law enforcement agencies through the sharing of proceeds resulting from federal forfeitures.

Settlements to forfeit property are designed to conserve the resources of both the claimants and the government in situations where justice will be served.

The Asset Forfeiture Program's primary goals are: To punish and deter criminal activity by depriving criminals of property used in or acquired through illegal activities. To promote and enhance cooperation among federal, state, local, tribal, and foreign law enforcement agencies.

The primary benefit of administrative forfeiture is to avoid burdening the courts with judicial actions when no one contests the forfeiture of the seized property.

1 n a type of hand firearm, a pistol; 2 v to shoot. In Scotland, a country whose independence for centuries was only maintained by force of arms, and whose internal history down to the middle of the 18th century was a record of civil wars and family feuds, the possession of arms was a necessity and not a luxury.

Equitable Sharing Request Form (DAG-71) For use by State and Local Law Enforcement Agencies Deadline for submission of this request is forty-five (45) days following the date of forfeiture. Asset Information.