Real Estate LLC Operating Agreement Template

A real estate LLC operating agreement is signed between the members of the real estate limited liability company and lays out the roles and responsibilities of the members, how the company will be managed, and how decisions will be made. It is similar to the article of incorporation for corporations and helps avoid misunderstandings and disputes down the road. Use this real estate LLC operating agreement template, and modify it as needed.

This Real Estate Operating Agreement (hereinafter referred to as the “Agreement”) made and entered into this [Document.CreatedDate] by and between:

Hereinafter referred to as “Members” collectively in this “Agreement”.

Real Estate LLC Details

Name of the LLC:

The name of the Real Estate LLC is (insert name).

Date of formation:

The LLC was formed on the (date).

Governing laws:

The LLC is formed under the laws of the state of (state name).

Registered address:

The LLC’s registered address is (insert address).

Purpose of business:

The LLC’s business purpose is (insert LLC business purpose).

Term:

The term of the LLC is (insert number of years the LLC will be active).

Members ownership

Member 1:

[Member1.FirstName] [Member1.LastName] with ownership of (insert percentage of ownership)% with a mailing address of [Member1.StreetAddress] , [Member1.City] , [Member1.State] , [Member1.PostalCode] .

Member 2:

[Member2.FirstName] [Member2.LastName] with ownership of (insert percentage of ownership)% with a mailing address of [Member2.StreetAddress] , [Member2.City] , [Member2.State] , [Member2.PostalCode] .

Member 3:

[Member3.FirstName] [Member3.LastName] , with ownership of (insert percentage of ownership)% with a mailing address of [Member3.StreetAddress] , [Member3.City] , [Member3.State] , [Member3.PostalCode] .

You can add as many members as your LLC has in this section. If there are only two of you, remove the references to “Member 3” throughout this template.

Contributions and Distributions

Each Member hereby agrees to contribute the following amount of cash (or other property acceptable to the other Members) to the LLC:

(insert amount or property description) – [Member1.FirstName] [Member1.LastName]

(insert amount or property description) – [Member2.FirstName] [Member2.LastName]

(insert amount or property description) – [Member3.FirstName] [Member3.LastName]

All contributions shall be made within (insert number) days of the execution of this Agreement.

Allocation of Profits and Losses

The Members hereby agree that the profits and losses of the LLC shall be allocated among the Members in proportion to their respective ownership interests in the LLC.

Member’s Voting Rights and Title

[Member1.FirstName] [Member1.LastName] has (insert number) % voting rights and is the [Member1.Title] .