The following Property practice note provides comprehensive and up to date legal information covering:
A property joint venture is an arrangement between two or more parties under which they combine disparate contributions in order to derive value from the development, acquisition or management of property. Although in the vast majority of instances that value will be measured in terms of income or capital profits, there are some joint venturers (such as local authorities) who participate for social reasons (eg in relation to urban regeneration schemes, community projects, etc).
The contributions made by the joint venturers will usually involve some combination of:
cash, or the ability to enter into financing commitments
tangible assets (eg land)
intangible assets (eg expertise, intellectual property, construction services, contractual rights, etc)
The parties who typically participate in property joint ventures include property companies, developers, onshore institutional investors, offshore investors, landowners, local authorities and other public sector organisations.
A property joint venture allows the parties to it to:
share risk, and also to place specialist risk with specialist participants
combine resources to leverage the scale of a party’s usual operations in order to achieve greater returns or liquidity from their assets
make non-financial contributions to a project (eg construction management) in return for an equity share rather than simple payment of a contract sum or fee
gain access to specialist experience in relation to development, or asset management, or specialist knowledge of
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
This Practice Note examines why parties involved in a construction project may enter into an escrow agreement (or escrow deed) to set up an escrow account. It looks at the benefits of paying funds into escrow, how an escrow account operates and the provisions typically found in an escrow
Practical completion marks the end of the construction period of a project, when the works are 'finished' and the employer can occupy and/or use them. Practical completion also typically marks the start of the defects liability period/maintenance period.As explained below, practical completion is an
This Practice Note considers proprietary estoppel from a generic standpoint.For industry specific guidance on proprietary estoppel, see Practice Notes:•Estoppel and property law•Mortgages by estoppelProprietary estoppel—what is it?Unlike the other forms of estoppel (see Practice Note: Estoppel—what,
This Practice Note provides a high-level introduction to diversity and inclusion (D&I) and key reasons why it is important to law firms. Specific aspects of D&I are covered in more detail in Practice Notes:•The growing focus on diversity and inclusion (D&I) in law firms•Unconscious bias—law
0330 161 1234
To view our latest legal guidance content,sign-in to Lexis®PSL or register for a free trial.