Shared Equity Agreements For Nonprofits In Utah

• Category: Real Estate - Contracts - Equity
• State: Multi-State
• Control #: US-00036DR
• Format: Word; Rich Text

Description

The Shared Equity Agreement for nonprofits in Utah is designed to facilitate joint investments in residential properties by two parties, often referred to as Alpha and Beta. This agreement outlines the purchase price, down payment responsibilities, financing terms, and the establishment of an equity-sharing venture. Key features include detailed provisions for sharing escrow expenses, property management responsibilities, and a structured distribution of proceeds upon sale of the house. The agreement also addresses potential scenarios such as death and includes clauses on mandatory arbitration for resolving disputes. Filling and editing instructions emphasize that both parties need to carefully complete their respective sections and ensure signatures are notarized. This form serves various use cases, particularly beneficial for attorneys, who can assist clients in drafting and executing these contracts, and paralegals, who may manage document preparation. Legal assistants and associates will find this form integral for understanding property investments and ensuring compliance with state laws, while it also provides clarity for owners and partners engaged in shared investment ventures.