Tripartite agreements

A tripartite agreement is a legal term referring to a transaction with three parties. The term is generally used in the real estate transactions and is synonymous with the term "Agreement for the sale of purchase of". Tri agreement be used in various other projects - such as such as the disposal of hazardous waste - with the same general format as the real property. Tripartite agreement of PartiesA includes a developer or owner who as a borrower, a lender construction will finance construction and permanent lenders assumed that the mortgage is completed.The PhaseInitially building after construction in a tripartite agreement, the construction lender who holds the mortgage on the property of the borrower. The construction lender is also responsible for the construction on property.The borrowers TransferUpon mortgage completion of the project - construction, or else - the construction lender transfers for the permanent lenders continue to raise money for the duration of the borrower the mortgage mortgage.