Real Estate Prenup Exit Strategy Clause Questionnaire

1. Sale or Transfer of Ownership Interest
   1. Restrictions on Sale or Transfer
      • No Co-Owner may sell, transfer, or assign their ownership interest without the written consent of all other Co-Owners, except as provided.
   2. Right of First Refusal
      1. Proposed Purchase Price:
         What price will the Selling Party propose for their share?
         $________________________
      2. Payment Terms:
         How will the purchase price be paid? (e.g., lump sum, installments over 6 months):
         ________________________
      3. Timeline for Sale:
         How many days do Remaining Parties have to respond?
         (e.g., 30 days): _______ days
      4. Remaining Parties’ Rights:
         Choose one:
         
         • Purchase the Selling Party’s share at the proposed price.
         • Negotiate alternative terms acceptable to all parties.
   3. Multiple Interested Parties
      

      If more than one Remaining Party wishes to purchase the share, how will ownership be split?

      • Existing ownership percentages
      • Mutual agreement among the Remaining Parties
   4. Outside Sale Approval
      

      If Remaining Parties decline to purchase, does the Selling Party require the buyer to agree to the existing Agreement?

      • Yes
      • No

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2. Mandatory Sale or Buyout Process
   1. Triggering Events
      

      Under what conditions may a mandatory sale or buyout occur? (Check all that apply):

      • By mutual agreement of all Co-Owners.
      • After a minimum holding period of _______ years (e.g., 3 years).
      • Material breach of this Agreement (e.g., missed payments, property misuse).
   2. Determining Fair Market Value (FMV)
      1. How will the FMV be determined?
         • One independent, licensed appraiser.
         • Two independent, licensed appraisers (average of the two).
      2. Appraisal Cost Responsibility:
         • Selling Co-Owner pays for the appraisal.
         • Cost is shared equally among all Co-Owners.
   3. Buyout Terms
      1. Timeline for Completing the Buyout:
         How many days after FMV is determined will the buyout close?
         _______ days (e.g., 60 days)
      2. Payment Terms:
         How will the buyout be paid? (e.g., lump sum, installments over 12 months):
   4. Sale of Entire Property
      
      1. Initial Listing Price:
         Specify the price at which the property will be listed:
         
         • Based on FMV
         • $________________________
      2. Price Reduction:
         
         • How many days until the price is reduced? _______ days
         • Percentage reduction per period: _______%
         • How often will reductions occur? _______ days
      3. Distribution of Sale Proceeds:
         Enter ownership percentages:
         • Co-Owner A: _______%
         • Co-Owner B: _______%
         • Co-Owner C(if applicable): _______%
         • Co-Owner D(if applicable): _______%
      4. Outstanding Debts:
         If the Selling Party owes shared expenses or contributions, how much will be deducted from their proceeds?
         $________________________

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3. Financial Adjustments Upon Exit
   1. Reimbursement for Contributions
      

      Will the Selling Party be reimbursed for any of the following? (Check all that apply):

      • Necessary repairs: $________________________
      • Approved improvements: $________________________
      • Other documented contributions (e.g., property taxes paid on behalf of others):
   2. Deduction of Outstanding Debts
      

      What amount (if any) will be deducted from the Selling Party’s proceeds for missed payments or obligations?
      $________________________

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4. Dispute Resolution for Exit Terms
   1. Mediation

      Who will select the mediator for disputes?
      Name of Mediator: __________________________________________

      1. Mediation Costs:
         • Shared equally among Co-Owners
         • Paid by the initiating Co-Owner
   2. Arbitration
      1. Arbitration Service:
         Name of arbitration service: __________________________________________
      2. Arbitration Costs:
         
         • Shared equally among Co-Owners
         • Paid by the initiating Co-Owner

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5. Additional Considerations
   1. Death of a Co-Owner
      1. Buyout Option:
         How many days will the surviving Co-Owners have to buy out the deceased Co-Owner’s share?
         _______ days (e.g., 90 days)
      2. What happens if no buyout occurs?
         
         • The deceased’s share will pass to heirs, subject to this Agreement.
         • Other (please specify): __________________________________________
   2. Partition Waiver

      How many years must all Co-Owners agree to waive the right to force a partition sale?
      _______ years

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Instructions for Completion

1. Discuss all options with your co-owners to ensure consensus.
2. Fill in the blanks with clear, agreed-upon terms.
3. Select options that align with your co-ownership goals.
4. Review the completed questionnaire with your attorney before finalizing the Exit Strategy Clause.

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Signatures

By signing below, the Co-Owners confirm that they have reviewed and agreed to the terms set forth in this questionnaire.

Co-Owner A
Name: _____________________________________
Signature: __________________________________
Date: ________________

Co-Owner B
Name: _____________________________________
Signature: __________________________________
Date: ________________

Co-Owner C (if applicable)
Name: _____________________________________
Signature: __________________________________
Date: ________________

Co-Owner D (if applicable)
Name: _____________________________________
Signature: __________________________________
Date: ________________