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partnership of friends

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B

bershwin

Guest
new york. 2 friends and i are joining together to purchase 2 through 4 family homes in new york city for investment purposes. the goal is to share income and report to the IRS through "part interest in real estate" on schedule E of 1040. we would like a legal agreement stating a few ideas (in clauses like revenue sharing, death contingency planning, profit distribution, etc). We know and have agreed to the terms above (totaling 19). Can we simply write an agreement with these terms and sign? Or do we have to create a formal partnership (general, llp, etc) and register with the government? If we can just have an agreement, is there a legal template we can find on the web? Thanks in advance for any help on this matter.
 



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