- An association between two or more parties to own and/or develop real estate. It may take a variety of forms including partnership. It is formed for specific purposes and duration.
collective endeavour, partners
Related Terms and Acronyms
- Closely Held — Definition,
- Schedule II banks may be closely held, i.e., one party (owner) may hold more than 10% of the outstanding shares. Schedule I banks are prohibited from this type of ownership.
- Entrepreneur — Definition,
- A person who starts and manages a business.
- Real Estate (RE) — Acronym, Very Important,
- A section of land including all the natural resources (above and below the surface) and any permanent buildings or structures located on it. Also known as "realty."
- Venture Capital (VC) — Acronym,
- Financial capital given to startup companies.