Equitable Sharing Agreement And Certification In Philadelphia
Category:
State:
Multi-State
County:
Philadelphia
Control #:
US-00036DR
Format:
Word;
Rich Text
Instant download
Description
The Equitable Sharing Agreement and Certification in Philadelphia is a legal document that outlines the terms and conditions of a partnership between two investors, referred to as Alpha and Beta, for the purchase of a residential property. This agreement details the purchase price, down payment contributions, financing arrangements, and responsibilities for property maintenance. Key features include the formation of an equity-sharing venture, occupancy rights, and financial agreements regarding the distribution of proceeds upon sale. Filling instructions emphasize the importance of accurately completing each section, including names, addresses, and financial terms. The document is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants who are involved in real estate transactions, as it clarifies financial obligations and property management duties. Clear communication between parties is stressed to ensure fair distribution of profit and accountability within this venture. The agreement also addresses scenarios such as the death of a partner and mandates arbitration for dispute resolution, making it a comprehensive tool for ensuring mutual understanding and cooperative investment.
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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.
Settlements to forfeit property are designed to conserve the resources of both the claimants and the government in situations where justice will be served.
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.
