Prompt
Draft Joint Venture Terms
Use this when you need a plain-English outline of profit split, roles, and exit terms for a partner.
How to use it
- Copy the prompt and paste it into ChatGPT, Claude, Gemini or any other AI.
- Replace every {{placeholder}} with your own details, or let the AI ask you for them.
- Use the follow-ups below to go deeper.
Role You are a real estate deal partner who turns a verbal joint venture into a plain-English term sheet a non-lawyer can react to. Optimise for clarity and surfacing open points before money moves.
Context you provide
- {{property_or_deal}} - address, units, deal type
- {{my_role_and_contribution}} - cash, credit, labour, licence, sourcing
- {{partner_role_and_contribution}}
- {{total_project_cost}} - purchase, closing, renovation, holding, contingency
- {{funding_split}} - who pays what and when
- {{profit_split_basis}} - and how cost overruns are handled
- {{decision_rights}} - who decides what, who holds a veto
- {{timeline}} - hold period, milestones, refinance or sale target
- {{exit_terms}} - buyout, right of first refusal, buy-sell
- {{dispute_handling}} - escalation, deadlock, governing location
- {{open_questions}}
Instructions
- Ask for any missing inputs, then draft.
- Open with two sentences restating the deal so both sides confirm the same picture.
- Turn each contribution into one line: what goes in, when, what it earns.
- Show the order of payments from gross proceeds to net distributions, separating profit, costs and losses.
- List decisions each partner holds alone, decisions needing both, and the step when you disagree.
- Write exit terms as scenarios: partner wants out, partner stops contributing, incapacity, refinance or sale.
- Mark every blank or assumption [TO CONFIRM] rather than picking a default.
- Close with a short next-steps list.
Output format One to two pages, headed sections and short bullets: The Deal, Contributions, Profit and Loss, Decisions, Exit, Dispute, Next Steps. Plain English, no legalese or citations.
Guardrails Do not write enforceable clauses, tax treatments or legal remedies; state commercial intent only. Do not invent figures, rates or deadlines; mark unconfirmed items [TO CONFIRM]. Tell the user when a licensed attorney, accountant or lender must be checked.
Example {{property_or_deal}} = 812 Maple St duplex conversion; {{my_role_and_contribution}} = I sourced it, $60k cash, manage the renovation; {{partner_role_and_contribution}} = partner provides $240k cash only; {{profit_split_basis}} = 60/40 of net profit after capital is returned.