Equity Agreement Document For Payment Agreement In Philadelphia

State:
Multi-State
County:
Philadelphia
Control #:
US-00036DR
Format:
Word; 
Rich Text
Instant download

Description

The Equity Agreement Document for Payment Agreement in Philadelphia is a contract between two parties, referred to as Alpha and Beta, who agree to jointly purchase residential property as an investment. Key features of the form include specifying the purchase price, down payment distribution, and financing arrangements. The document outlines the roles of each party, including who will reside in the property, the sharing of expenses, and the distribution of proceeds upon the sale of the property. Additionally, it addresses aspects such as laws governing the agreement, mandatory arbitration in case of disputes, and provisions for modifications. This form is especially useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in real estate investments, providing a structured approach for documenting equity-sharing ventures. It clearly lays out the obligations and rights of each party, helping to mitigate potential disputes during and after the investment period. The document also includes filling instructions for necessary information, ensuring clarity and completeness in drafting the agreement.
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FAQ

The Property Tax/Rent Rebate Program supports homeowners and renters across Pennsylvania. This program provides a rebate ranging from $380 to $1,000 to eligible older adults and people with disabilities age 18 and older.

The OOPA program allows people who own and live in their home to make affordable monthly payments on property taxes that are past due. There is no down payment required and your monthly payments will be based on a percentage of your monthly income. or call (215) 686-6442.

The OPA Account Number is a unique 9-digit number that identifies a property and is the same as the old BRT account number. If you don't know your OPA account number, you can look it up using your property address or find it on your Real Estate Tax bill. Where can I find information about permits and zoning?

The program's current iteration, launched in 2022 after considerable debate, offers property owners a 100% abatement for the first year. The value then diminishes by 10% each year for the remaining nine years of the program.

Write the contract in six steps Start with a contract template. Open with the basic information. Describe in detail what you have agreed to. Include a description of how the contract will be ended. Write into the contract which laws apply and how disputes will be resolved. Include space for signatures.

The Office of Property Assessment (OPA) determines what every piece of property within Philadelphia is worth. The assessed dollar value is used to calculate the property's real estate tax due. Real estate tax (also known as property tax) provides a large part of our City's public school funding.

Owner Participation Agreement (OPA) means any agreements where the Agency is participating with a landowner for the development of a site by providing some form of financial concession.

Employer Name School District of Philadelphia (SDP) 4. Employer Identification Number (EIN) 23-600-4102 5.

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Equity Agreement Document For Payment Agreement In Philadelphia