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Property Development Partnership Agreement Template for Ireland

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Key Requirements PROMPT example:

Property Development Partnership Agreement

"I need a Property Development Partnership Agreement for a joint venture between my construction company and a land owner to develop a mixed-use commercial and residential complex in Dublin, with construction starting in March 2025 and specific provisions for phased development and profit-sharing based on capital contributions."

Document background
The Property Development Partnership Agreement is a crucial document used in Ireland when two or more parties wish to collaborate on property development projects while sharing risks, responsibilities, and rewards. This agreement is particularly relevant in the Irish property market where joint ventures and partnerships are common for large-scale development projects. The document addresses key aspects required under Irish law, including partnership formation, capital contributions, profit distribution, and project management structures. It incorporates provisions compliant with the Partnership Act 1890, Planning and Development Act 2000, and other relevant Irish legislation. The agreement is essential for establishing clear governance structures, risk allocation, and operational frameworks for property development partnerships, while ensuring compliance with Irish property development regulations and planning requirements.
Suggested Sections

1. Parties: Identification and details of all partners entering into the agreement

2. Background: Context of the agreement, including the purpose of the partnership and overview of the development project

3. Definitions and Interpretation: Detailed definitions of terms used throughout the agreement and rules of interpretation

4. Partnership Formation and Term: Establishment of the partnership, commencement date, and duration

5. Partnership Interests and Capital Contributions: Details of each partner's ownership interest and initial/ongoing capital contributions

6. Property Development Project: Specific details about the development project, including scope, timeline, and objectives

7. Management and Decision Making: Governance structure, voting rights, and decision-making processes

8. Roles and Responsibilities: Specific duties and obligations of each partner

9. Financial Matters: Financial management, profit sharing, loss allocation, and accounting procedures

10. Development Budget and Funding: Project budget details and funding arrangements

11. Planning and Construction: Requirements for planning permission, construction management, and project execution

12. Distribution of Profits: Methods and timing of profit distribution from the development

13. Transfer of Interests: Rules regarding the transfer of partnership interests and right of first refusal

14. Default and Remedy: Events of default and corresponding remedies

15. Termination: Circumstances and procedures for partnership termination

16. General Provisions: Standard legal provisions including notices, amendments, governing law

Optional Sections

1. Third-Party Financing: Terms relating to external financing arrangements, used when the partnership seeks external funding

2. Phased Development: Specific provisions for projects developed in phases, included when the development will be completed in stages

3. Sales and Marketing: Provisions regarding the sale or letting of completed units, included when partners will handle sales/letting

4. Environmental Compliance: Detailed environmental obligations, included for environmentally sensitive developments

5. Property Management: Post-completion management arrangements, included when partners will maintain involvement after development

6. Intellectual Property: IP rights provisions, included when the development involves unique designs or branding

7. Joint Venture Provisions: Additional provisions for joint venture partnerships, included when partnering with corporate entities

8. Development Manager: Provisions regarding appointment and duties of a development manager, if applicable

Suggested Schedules

1. Schedule 1 - Property Details: Detailed description of the development property including title information and plans

2. Schedule 2 - Business Plan: Detailed business plan including market analysis and financial projections

3. Schedule 3 - Development Program: Detailed timeline and milestones for the development project

4. Schedule 4 - Budget and Cost Plan: Detailed development budget and cost breakdown

5. Schedule 5 - Planning Permissions: Details of existing and required planning permissions

6. Schedule 6 - Initial Capital Contributions: Detailed breakdown of each partner's initial capital contributions

7. Schedule 7 - Professional Team: Details of appointed professional consultants and contractors

8. Appendix A - Plans and Drawings: Architectural plans, designs, and technical drawings

9. Appendix B - Environmental Reports: Environmental surveys and impact assessments

10. Appendix C - Construction Specifications: Detailed construction and material specifications

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions



























































Clauses

















































Relevant Industries

Real Estate

Construction

Property Development

Commercial Property

Residential Property

Mixed-use Development

Urban Planning

Infrastructure Development

Property Investment

Construction Management

Relevant Teams

Legal

Real Estate

Property Development

Construction Management

Investment

Finance

Planning and Development

Asset Management

Project Management

Risk Management

Relevant Roles

Property Development Director

Real Estate Partner

Construction Manager

Development Project Manager

Investment Director

Legal Counsel

Property Investment Manager

Senior Development Executive

Construction Director

Real Estate Finance Manager

Planning Consultant

Commercial Director

Asset Manager

Development Surveyor

Partnership Manager

Industries










Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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