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Shared Ownership Agreement

Shared Ownership Agreement Template for Saudi Arabia

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Key Requirements PROMPT example:

Shared Ownership Agreement

"I need a Shared Ownership Agreement for a joint venture between our Saudi company and a foreign tech investor, where we'll own 70% and they'll own 30% of a new software development business, with operations starting March 2025."

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Document background
The Shared Ownership Agreement is a critical legal instrument used in Saudi Arabia when two or more parties wish to formally establish and regulate their joint ownership of assets, businesses, or properties. This document is essential in various contexts, from family business arrangements to corporate joint ventures, and must comply with both Saudi law and Sharia principles. It typically includes detailed provisions for ownership structure, management rights, profit distribution, and exit mechanisms, while addressing specific Saudi regulatory requirements such as foreign ownership restrictions and Zakat obligations. The agreement is particularly important given Saudi Arabia's evolving economic landscape under Vision 2030 and increasing foreign investment opportunities, requiring careful consideration of both local and international stakeholder interests.
Suggested Sections

1. Parties: Identification of all parties entering into the shared ownership agreement, including full legal names and addresses

2. Background: Context of the agreement, description of the asset(s) being shared, and purpose of the arrangement

3. Definitions: Detailed definitions of key terms used throughout the agreement

4. Ownership Structure: Specification of ownership percentages and rights of each party

5. Management and Control: Decision-making processes, voting rights, and management responsibilities

6. Financial Obligations: Cost sharing, expense allocation, and funding requirements

7. Distribution of Profits and Losses: Method and timing of profit distribution and loss allocation

8. Transfer Restrictions: Limitations on transfer of ownership interests and right of first refusal provisions

9. Exit Mechanisms: Procedures for voluntary and involuntary exit, including buyout provisions

10. Compliance: Obligations to comply with Sharia law and Saudi regulations

11. Dispute Resolution: Procedures for resolving disputes under Saudi law

12. Term and Termination: Duration of agreement and circumstances for termination

13. Governing Law: Confirmation of Saudi law as governing law and jurisdiction

Optional Sections

1. Asset Management: Detailed procedures for managing specific assets (include when agreement covers physical assets)

2. Islamic Finance Provisions: Specific Sharia-compliant financing arrangements (include when Islamic financing is involved)

3. Foreign Ownership Provisions: Additional requirements for foreign owners (include when any party is non-Saudi)

4. Intellectual Property Rights: IP ownership and usage rights (include when shared ownership involves IP assets)

5. Competition Restrictions: Non-compete and non-solicitation provisions (include for business ownership arrangements)

6. Insurance Requirements: Mandatory insurance coverage (include for physical asset ownership)

7. Zakat Provisions: Allocation of Zakat obligations (include when parties have different Zakat status)

Suggested Schedules

1. Schedule 1 - Asset Description: Detailed description of the shared asset(s) including all relevant details and valuations

2. Schedule 2 - Ownership Structure: Detailed breakdown of ownership percentages and any special rights

3. Schedule 3 - Management Procedures: Detailed procedures for day-to-day management and decision-making

4. Schedule 4 - Financial Contributions: Initial and ongoing financial contributions required from each party

5. Schedule 5 - Valuation Methodology: Agreed methods for valuing ownership interests for transfers or exits

6. Appendix A - Required Regulatory Approvals: List of necessary governmental or regulatory approvals

7. Appendix B - Form of Transfer Notice: Template for notices related to transfer of ownership interests

8. Appendix C - Shariah Compliance Certificate: Certificate from qualified Shariah advisor (if required)

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions

















































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Relevant Industries

Real Estate

Manufacturing

Technology

Healthcare

Education

Retail

Hospitality

Construction

Financial Services

Professional Services

Energy

Agriculture

Transportation

Mining

Relevant Teams

Legal

Finance

Compliance

Corporate Development

Investment

Operations

Risk Management

Property Management

Business Development

Strategy

Islamic Finance

Corporate Governance

Mergers & Acquisitions

Relevant Roles

Chief Executive Officer

Chief Legal Officer

Legal Counsel

Business Development Manager

Investment Manager

Property Manager

Corporate Strategy Director

Finance Director

Compliance Officer

Risk Manager

Operations Director

Partner (Professional Services)

Real Estate Manager

Joint Venture Manager

Islamic Finance Specialist

Company Secretary

Business Owner

Managing Director

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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