The seller-side partner wants to change the split because the timeline slipped and he says he did more work during the extension
Something a title attorney told me last week is still bothering me: he said the most common JV wholesale dispute he sees involves one partner interpreting "the deal closed" as the trigger for the split, and the other interpreting it as "the deal closed on time." That distinction sounds technical until you are thirty days past the original closing date, one partner has spent money on due diligence, the other has been fielding calls from a buyer who is getting cold feet, and the agreement says nothing about what an extension means for the original terms. Take a deal where the fee is 18k and the split was agreed at 60/40 in favor of the seller-side partner. The deal slips three weeks because the title search surfaces an old lien. The seller-side partner now argues the extra legwork he did to clear the lien entitles him to 70/30, the buyer-side partner says the split was fixed at signing and nothing renegotiates it mid-deal. Neither of them wrote down what an extension triggers. The 18k fee is not the problem anymore. The problem is that the agreement treated the split as a static number when it was actually a bet on how the work would distribute, and that bet broke when the timeline moved. The question I would ask either partner is: what does your written agreement say happens to the split if the closing date changes, and if the answer is nothing, what did you each think you were agreeing to?