Legal Questions and Answers

Get free proposals from vetted lawyers in our marketplace.

No upfront payment required. Pay only if you hire.


Joint Venture Agreement


Asked on Mar 21, 2023

Can a JV own property?

I am currently in talks with another company to form a joint venture (JV) for a real estate development project. We are planning to pool our resources together to purchase land and build properties. However, I am uncertain if a JV can legally own property or if we would need to form a separate legal entity for the ownership of the real estate. I would appreciate the guidance of a lawyer on this matter.

1 Attorney answer




Answered 75 days ago

Jimmy V.

ContractsCounsel verified

Business Lawyer
Licensed in Texas
Free Consultation

A joint venture can own property. It's a type of partnership. But in a partnership, each partner is liable for anything the other partner does. You would be much better off setting up as an LLC. PS For more information about business entities, download a free copy of my ebook "Should Your Small Business Become a Corporation or an LLC? A Look at Liabilities, State & Federal Taxation & More!" from my website

Meet some lawyers on our platform

Bryan B.

147 projects on CC
View Profile

Erik D.

20 projects on CC
View Profile

Wendy C.

30 projects on CC
View Profile

Michael S.

2 projects on CC
View Profile

Find lawyers and attorneys by city