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Updated almost 3 years ago,

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Rachel Lake
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JV deal - WS will not split

Rachel Lake
Posted

Hi- I have an active 90 day exclusive JV agreement with a wholesaler to help them market a distressed property. Property is in TX. We have been marketing this and actively searching for buyers. We were just informed that the WS has found a buyer and does not appear they are going to split profits. Our JV contract does not stipulate who has to bring the buyer only that profits are to be split by x percentage. Can they legally refuse to split profits if they find the buyer themselves? My understanding is no as long as JV agreement is active. Any guidance is appreciated!

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