What are "joint ventures" in real estate?

Joint ventures in real estate refer to partnerships between two or more parties who collaborate to develop, manage, or invest in real estate projects. This collaboration allows the parties to combine their resources, expertise, and capital, thereby sharing the risks and rewards associated with the real estate venture.

In a joint venture, each party contributes something valuable—whether it's financial investment, land, or industry knowledge—enabling them to undertake larger or more complex projects than they might be able to handle independently. The structure of a joint venture can vary, and the participants typically outline their roles, contributions, and how profits and losses will be shared in a formal agreement.

The other options do not accurately describe the concept of joint ventures. Legal documents for property inspections, financial institutions, and agents representing buyers focus on different aspects of real estate transactions and do not pertain to the collaborative partnership model that joint ventures embody.