Is breaking the agreement a criminal offense?

They consider this offense to have average prison sentencing somewhere between kidnapping and counterfeiting

What are the possible offenses if caught? 

If you have the cash to go on the offense, it's a great time to do it IMO.

@Sandra Gutierrez no offense, but it's scary that you are asking this question and not more specific DIY management questions.Do you even have an idea of what you don't know?

@Jeff Minc The Sonoma County Assessor is quite offensive with their assessments as property taxes are the lifeblood of the local municipalities. 

I hope someone from Renatus is reading this because rather than taking offense, I'd take this as good feedback to implement with my instructors/employees.

Each week’s failure to comply is a separate offense subject to an additional $250 fine.

@Ariel Cohen I think you might be overthinking it a bit -- (no offense meant at all) I'd simply set up the books with all 3 as owners - then you can give/create an owner account for your partner "123 Street Partner #1" so he/she can log in and see what's going on.  

No offense OP I appreciate what you're doing but if someone submitted an offer for one of my properties that included that "for any reason whatsoever" nonsense I wouldn't even respond.