Contract For Equity In Washington

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

Description

The Contract for Equity in Washington facilitates a joint investment in residential real estate between two parties, referred to as Alpha and Beta. This form outlines the purchase price, payment structure, and responsibilities of both parties, including how equity is shared and managed. Key features include provisions for loan arrangements, property maintenance, and the distribution of proceeds from the sale of the property. Specific sections address occupancy rights for Beta and stipulate the governance of the agreement, including resolution through arbitration. Additionally, parties are bound by the contract until the sale of the property, and it includes a severability clause to uphold the remaining sections if any part is deemed invalid. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in real estate transactions, providing a clear structure for equity-sharing ventures and ensuring comprehensive legal protections for all parties involved.
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FAQ

(1) The Washington state office of equity is established within the office of the governor for the purpose of promoting access to equitable opportunities and resources that reduce disparities, and improve outcomes statewide across state government.

State contract means an agreement or contract with the state or any state agency or any quasi-public agency, let through a procurement process or otherwise, having a value of fifty thousand dollars or more, or a combination or series of such agreements or contracts having a value of one hundred thousand dollars or more ...

Gov. Jay Inslee today named Megan Matthews director of the Washington State Office of Equity. She has served as acting director of the agency since May. Matthews has worked with the Office of Equity since April 2021 as the assistant director for shared power, leading multiple aspects of the agency's work.

The 2021 Washington State Legislature recently passed ESSB 5096 (RCW 82.87) which creates a 7% tax on the sale or exchange of long-term capital assets such as stocks, bonds, business interests, or other investments and tangible assets.

DEI stands for Diversity, Equity, and Inclusion. This idea is important as it allows everyone no matter their gender, race, or sexual orientation to feel included and welcome in all spaces! In Washington DECA, our goal is to establish a fair and equitable playing field for all members across the state.

The Office of Equity is working to create a Washington State where everyone has full access to the opportunities, power, and resources they need to flourish and achieve their full potential, for the next seven generations and beyond.

Equity in Contracting Program Mission Statement To create and sustain a competitive and fair business environment for contracting, procurement and consulting opportunities that include small businesses owned by minority, women, and socially and economically disadvantaged people.

(1) The Washington state office of equity is established within the office of the governor for the purpose of promoting access to equitable opportunities and resources that reduce disparities, and improve outcomes statewide across state government.

In Washington, the basic maxim is “An agreement is enforceable if its terms are reasonably certain.” The terms of a contract are “reasonably certain” if they provide the ability for determining a breach/default and for giving an appropriate remedy in case of breach/default.

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Contract For Equity In Washington