In real estate, a Joint Venture is a business arrangement in which two or more individuals or firms combine their resources to undertake a single project or investment. Each party contributes capital, expertise, or services and shares in the profits, losses, and risks of the venture.
Joint ventures are commonly used in real estate development and investment projects where the scale or complexity exceeds the capacity of a single party. The terms of the relationship are typically outlined in a written agreement that defines each participant’s responsibilities and financial interests.
