Division is a fair remedy that can be voluntary or involuntary (compulsory). If the co-owners of real or personal property cannot agree on the use, disposition or other physical property of a property, an owner may ask a court that the division of the property be split or that a sale of the property be forced. Thus, it is customary to include in enterprise agreements rental properties a provision requiring members to waive their right to share as a remedy in enterprise agreements. However, the LLC`s enterprise agreement should provide appropriate corrective measures or exit strategies to deal with possible deadlock situations in order to avoid the need for a judicial division. Some of the most important decisions that require the agreement of members of a real estate joint venture are: (i) the sale or exchange of all or part of the company`s assets (including the project or part of it); (ii) the acquisition, by purchase, exchange, leasing or by any other means of real estate or personal property by the company (except the acquisition of the project); (iii) the conclusion or modification of a lease agreement for the project (except in the context of normal transactions); (iv) the borrowing of money by the company or the granting by the company of rights, receivables, charges or security interest by the company on an asset of the company, as collateral of the company`s debts and obligations or by any other means, or by modification, extension, extension or down payment of a loan, in whole or in part; and (v) the conclusion of equipment or construction services contracts, including property management and leasing contracts. (a) is and is organized exclusively for the purposes of acquiring, developing, owning, owning, selling, leasing, selling, exchanging, managing and operating the property (and not other than property ownership, operation and management), property financing, such as the loan agreement with the same and the execution of their obligations under the documents). , the refinancing of the property as part of an authorized repayment of the loan and the execution of the necessary and proportionate legal transactions to carry out the above; Over the past two weeks, Edwards Law has focused on limited liability companies – why you want them, how you train them, how to make your LLC bulletproof; and how you can protect them if a member of your LLC has declared bankruptcy.
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