What is the purpose of Form 700?

The Form 700 provides transparency and ensures accountability in two ways: It provides necessary information to the public about an official's personal financial interests to ensure that officials are making decisions in the best interest of the public and not enhancing their personal finances.

Equity Share Statement With Interest In Sacramento

Category:

Real Estate - Contracts - Equity

State:

Multi-State

County:

Sacramento

Control #:

US-00036DR

Format:

Instant download

Description

The Equity Share Statement with Interest in Sacramento is a legal document designed to outline the terms of an equity-sharing arrangement between two parties, referred to as Alpha and Beta, regarding a residential property purchase. It includes essential details such as the purchase price, down payments, financing terms, and the responsibilities of each party concerning property maintenance and tax distribution. Attorneys, partners, owners, associates, paralegals, and legal assistants will find this form valuable for establishing clear agreements on shared investments, detailing the roles and financial contributions of each party. The form emphasizes the necessity for explicit written agreements on modifications and provides guidance on what occurs in cases of death, ensuring that provisions are in place for property value determination and profit distribution. It also includes clauses about governing law, mandatory arbitration for disputes, and severability to affirm that all other provisions remain enforceable if parts are deemed invalid. This document serves to protect the interests of all involved parties in the equity-sharing venture and facilitates easy reference for obligations and rights throughout the agreement.

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FAQ

Report: Investments, interests in real property, and business positions held on the effective date of the code or amendment must be reported. In addition, income (including loans, gifts, and travel payments) received during the 12 months prior to the effective date of the code or amendment.

The Form 700 is a public document intended to alert public officials and members of the public to the types of financial interest that may create conflict of interest.

Interest on bonds, mutual funds, CDs, and demand deposits of $10 or more is taxable. Taxable interest is taxed just like ordinary income. Payors must file Form 1099-INT and send a copy to the recipient by January 31 each year. Interest income must be documented on Schedule B of IRS Form 1040.

The Form 700 is a public document. Form 700s filed by State Legislators and Judges, members of the FPPC, County Supervisors, and City Council Members are available on the FPPC's website.

Every elected official and public employee who makes or influences governmental decisions is required to submit a Statement of Economic Interest, also known as the Form 700.

Who Files the Form 700? State and local government agencies must adopt a conflict of interest code. The codes designates positions within the agency that make or participate in making governmental decisions. Individuals in these positions file Form 700.

Form 700 is the tool used by public officials to disclose their financial interests that may be affected by their public official decisions. This ensures that the public is aware of a public official's financial interests and also reminds the public official of potential conflicts.

The Form 700 provides transparency and ensures accountability in two ways: It provides necessary information to the public about an official's personal financial interests to ensure that officials are making decisions in the best interest of the public and not enhancing their personal finances.

A Statement of Information must be filed either every year for California stock, cooperative, credit union, and all qualified out-of-state corporations or every two years (only in odd years or only in even years based on year of initial registration) for California nonprofit corporations and all California and ...