does it cost anything to form a simple partnership?

General Real Estate Investing
1

Im a noob

2

handshake partnerships are free.

more formal partnerships require a partnership agreement, which ideally should be drafted by an atty. You should always have an exit strategy as part of the agreement, in case things go bad.

If you wish to register the partnership with the state, the fees depend on the state.

3

thanks for the reply :biggrin

4

FYI, tax law says that anytime you enter into a venture with another person in pursuit of profit, you’ve created a partnership.

I mention this because people regular create partnerships by accident… and then per the law are supposed to do partnership-type things–like file partnership tax returns, etc.