Updated over 4 years ago on . Most recent reply
Partnership contacts need to be drawn up?
Found a great flip property with lots of potential 2 hours away from my living area. After running the numbers and a discussion with my mentor, decided to do a walk-through to see the property. All look as expected property has been sitting for quite a few years needs a total rehab. Being a construction electrician myself this is not an issue. The issue is financing and I need to bring on a partner. My partner is also in construction as a carpenter. We have agreed to work together and finance this project 50/50 as well as sharing in profits 50/50. I am a rookie and just starting out in this business. I want to have everything labelled out in black and white in regards to responsibilities on this project. Would like any advice on regards to any contract stipulations, items that should be included in the contract. Also I live in Halifax Nova Scotia and if anyone has a good reference for a lawyer to draw up the contract I'd be interested in that as well. This is my first time and I'm just looking to do things right.
Most Popular Reply
Hi Leon
We use Sean Glover from Cox & Palmer for these contracts.
There are more questions that affect whether you use a partnership agreement or a shareholder agreement.
I have both if you want. Just connect with me directly.