Before you sign a joint development agreement
Most disputes between landowners and developers can be traced back to five clauses written in a hurry. Here is what to read twice.
A joint development agreement looks like a property transaction, but it behaves like a long partnership. The land is handed over today; the return arrives years later, and only if the project is completed as promised. The clauses that deal with delay, approvals and the allocation of built-up area deserve more attention than the headline revenue share.
Before signing, landowners should insist on a clear schedule of approvals, a defined consequence for delay, and a mechanism for resolving disagreements that does not depend on going to court.