Is an electronic signature enforceable?

Yes. Electronic signatures are legally valid for most transactions under the federal ESIGN Act (15 U.S.C. ch. 96) and state UETA laws, provided the signing demonstrates intent, consent, attribution, and reliable record retention.

When is notarization required?

Notarization is required for certain real property conveyances, some powers of attorney, and documents needing acknowledgment. Requirements vary by state; confirm with the relevant Secretary of State or notary rules.

Can I use remote online notarization (RON)?

Many states permit RON with identity proofing and audio-video recording, but rules differ. If you need RON, verify the state's permanent RON status and retention rules before proceeding.

What if a signer’s name is incorrect?

Incorrect signer names can complicate enforceability and tax reporting. Correct via an amendment or re-execution; retain both versions and document the reason for change.

Witness requirements depend on document type and state law; for example, some states require two witnesses for deeds or certain powers of attorney. Check state-specific rules before execution.

How do I revoke or amend the agreement?

Use the termination or amendment procedures specified in the contract. For revocation, deliver written notice per contractual notice provisions; amendments typically require written agreement signed by all parties.

Owner Agreement

This template is fully customizable. Edit the text, fill out the fields, and send it for signature. Give it a try!

OWNER AGREEMENT

This Owner Agreement (the "Agreement") is entered into as of by and between Owner Name: and Service Provider Name: .

WHEREAS

WHEREAS, Owner owns or controls certain assets, properties, intellectual property, and business operations (collectively, the "Owner Assets") for which Owner desires to engage Provider to perform services described herein; and

WHEREAS, Provider represents that it has the requisite experience, personnel and resources to perform the services and to act in Owner's interests in accordance with the terms of this Agreement; and

WHEREAS, the parties desire to set forth in writing their respective rights and obligations with respect to the engagement.

1. Engagement and Scope

Owner hereby engages Provider, and Provider accepts such engagement, to perform the services described below in accordance with the terms and conditions of this Agreement.

Scope of Work

2. Payment Terms

As full compensation for the services performed under this Agreement, Owner shall pay Provider in accordance with the following terms and schedule.

Total Compensation Payment Schedule Method of Payment Late Payment Fee

Any undisputed invoice not paid within days after the due date shall accrue interest at % per month, or the maximum rate permitted by law, plus reasonable collection costs.

3. Term and Termination

This Agreement shall commence on and shall continue in full force and effect until , unless earlier terminated as provided herein.

Either party may terminate this Agreement for convenience upon days' prior written notice to the other party. Either party may terminate for cause if the other party materially breaches this Agreement and fails to cure such breach within 30 days after receipt of written notice specifying the breach.

4. Confidentiality

For purposes of this Agreement, "Confidential Information" means nonpublic information disclosed by one party to the other that is marked confidential or that a reasonable person would understand to be confidential. Provider and Owner shall hold Confidential Information in strict confidence and shall not disclose it to any third party except to their employees, agents or contractors on a need-to-know basis who are bound by confidentiality obligations at least as protective as those herein. Confidentiality obligations shall survive termination of this Agreement for a period of three (3) years, except that trade secrets shall remain protected for so long as they qualify as trade secrets under applicable law.

5. Representations and Warranties; Indemnity

Each party represents and warrants that it has full power and authority to enter into this Agreement. Provider warrants that services will be performed in a professional and workmanlike manner consistent with industry standards. Provider shall indemnify, defend and hold harmless Owner from and against any third-party claims arising out of Provider's gross negligence or willful misconduct in the performance of services. Owner shall indemnify Provider for liabilities arising from Owner's breach of this Agreement or Owner's willful misconduct.

6. Notices

All notices, requests, consents and other communications required or permitted hereunder shall be in writing and delivered to the addresses set forth below or to such other address as either party may designate by written notice to the other in accordance with this section.

Owner Notice Address Provider Notice Address

7. Governing Law; Dispute Resolution

This Agreement shall be governed by and construed in accordance with the laws of the State of without regard to conflict of laws principles. Except for injunctive relief, the parties shall attempt in good faith to resolve disputes through negotiation; if unresolved, disputes shall be submitted to binding arbitration under commercially reasonable arbitration rules agreed by the parties.

8. Entire Agreement; Amendment

This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements and understandings, whether written or oral. This Agreement may be amended only by a written instrument signed by both parties.

9. Miscellaneous

Neither party may assign this Agreement without the prior written consent of the other, except that either party may assign to an affiliate or in connection with a sale of all or substantially all of its business. If any provision of this Agreement is held invalid or unenforceable, the remainder of the Agreement shall remain in full force and effect. Headings are for convenience only and shall not affect interpretation.

Owner Printed Name:

By:

Date:

Provider Printed Name:

By:

Date:

What an Owner Agreement Is and When It Applies

An Owner Agreement is a written contract that records the rights, responsibilities, and compensation arrangements between an asset owner and a counterparty (for example, a property manager, contractor, licensee, or operator). Typical Owner Agreements define scope of work, duration, payment terms, insurance and indemnity obligations, maintenance and access rights, and how disputes are resolved. These agreements can apply to real estate, intellectual property, equipment leases, franchise relationships, and project ownership arrangements. A clear Owner Agreement reduces ambiguity about control, transferability, and ongoing obligations for all parties involved.

Why a Clear Owner Agreement Matters

A well-drafted Owner Agreement protects legal rights, limits financial exposure, and documents operational expectations. It creates measurable responsibilities, supports enforcement if disputes arise, and provides evidence for auditors, lenders, and regulators.

Who Typically Completes an Owner Agreement

Multiple roles prepare or sign Owner Agreements depending on the use case and industry.

Property owners, property managers, leasing agents and landlords completing tenancy or management arrangements.
Business owners, contractors, vendors and procurement managers for equipment leases or service arrangements.
Legal counsel, in-house counsel, and compliance officers reviewing governing law, indemnity, and data protections.

In practice, a combination of operational, financial, and legal stakeholders should review and approve the agreement before signing.

Core Sections to Include in a Professional Owner Agreement

Ensure your Owner Agreement covers the essentials below to reduce downstream disputes and support enforceability.

Identification

Names and contact information for each party, legal entity type, and state of formation; include tax ID or EIN when relevant for payment and reporting.

Scope and Deliverables

Clear description of assets, services, deliverables, milestones, and acceptance criteria with references to exhibits and schedules.

Payment Terms

Compensation amounts, invoicing schedule, accepted payment methods, late fees, retainers, and responsibility for taxes or withholdings.

Insurance and Indemnity

Required insurance types and limits, indemnity obligations, and limitations of liability to align with commercial risk appetite.

Term and Termination

Agreement duration, renewal mechanics, notice periods, and termination events including material breach and insolvency.

Dispute Resolution

Governing law, venue, and whether parties will use mediation or arbitration before litigation, plus attorney-fee provisions if applicable.

Required Data Elements and Standard Clauses

Owner Name: Full legal name of the owner party

Counterparty: Full legal name of the other party

Effective Date: MM/DD/YYYY start date

Payment Terms: Amount, frequency, and currency

Governing Law: Designated state law for interpretation

Signature Block: Printed name, title, signature, date

Step-by-Step: How to Complete an Owner Agreement

Follow these core steps in sequence to prepare, review, and execute an Owner Agreement with minimal rework.

01

Prepare Draft: Assemble facts, exhibits, and payment schedule for the first draft.
02

Internal Review: Legal and finance verify terms, insurance, and tax clauses.
03

Negotiate Changes: Exchange revisions and reach mutual agreement on open items.
04

Execute: All parties sign, and retain executed copies per retention rules.

How to Customize and Complete an Owner Agreement Online

Configure a repeatable digital workflow to collect signatures and store executed copies securely.

Field	Configuration
Party Blocks	Pre-fill names and addresses from templates
Conditional Clauses	Show or hide sections based on role or checkbox selection
Authentication	Choose email, SMS code, or stronger verification
Retention	Automatically save signed PDF and audit trail

Where to Send and How to File an Executed Owner Agreement

Decide filing destinations and distribution paths before execution to meet internal, tax, and regulatory needs.

Internal Repository: Save final signed PDF and audit trail to corporate document storage
Accounting: Forward invoices and executed agreement for accounts payable/receivable
Regulatory Filing: File required exhibits with state agencies or licensing boards when applicable
Counterparty Copy: Send each signer a fully executed copy with signature audit information

Distribution and Digital Signing Considerations

Choose methods that balance signer convenience with authentication and record integrity.

Email Links: Good for most signers; ensure link expiration and access controls
Remote Notarization: Required when a notary acknowledgement is necessary and the state permits RON
In-Person Signing: Use when identity verification or witnesses are required by law

Ensure chosen distribution integrates with your storage and retention workflow to preserve the audit trail and signed record.

Common Timing and Deadline Considerations

Owner Agreements often create dates that trigger payments, insurance renewals, or termination windows; track these dates precisely.

Effective and Term Dates:

Determine when obligations begin and end

Notice Periods:

Specify days required for termination or renewal notice

Invoice Due Dates:

Define payment windows and late fee start date

Insurance Renewal:

Require proof of coverage before renewal date

Record Retention:

Set schedule for archiving executed agreements

Key Milestones from Draft to Stored Agreement

Track milestones from initial draft through post-execution storage to maintain compliance and auditability.

01

Draft Completion

Initial contract draft finalized and shared with stakeholders.

02

Negotiation Close

All substantive changes resolved and final language agreed.

03

Execution

Signatures collected and timestamped via chosen method.

04

Archival

Signed PDF and audit trail stored in secure repository.

Common Mistakes to Avoid When Preparing an Owner Agreement

Using informal or shorthand party names that do not match legal entity records.
Leaving key terms vague, such as undefined deliverables, ambiguous payment triggers, or open-ended termination rights.
Forgetting to allocate tax responsibilities or require a valid W-9/EIN for payments to vendors.
Neglecting authentication and retention procedures for electronic signatures and executed records.

Risks and Consequences of an Incorrect or Incomplete Agreement

Contract Dispute: Increased litigation risk and legal costs

Tax Withholding: Backup withholding at 24% for missing/incorrect TIN

Insurance Gaps: Claims rejected if required coverage not in place

Regulatory Noncompliance: Fines or administrative action for missing filings

Invalid Execution: Signatures or notarizations challenged if processes not followed

Operational Delays: Payments or work stops pending corrected agreement

Real-World Owner Agreement Examples

Two concise examples show how clauses adapt to practical scenarios.

Property Management Agreement

A landlord hires a manager to lease and maintain residential units, defining repairs and rent remittance procedures.

Manager receives monthly fee plus 5% of collected rent.
The agreement includes insurance minimums, termination with 60 days' notice, and a requirement for manager to provide tenant ledgers monthly to support audits and accounting.

Equipment Lease and Use Agreement

A company leases specialized machinery to a contractor, specifying operating limits and maintenance.

Lessee pays monthly lease and is responsible for routine maintenance.
The document assigns IP created through equipment use to the owner, requires damage reporting within 72 hours, and sets a security deposit to cover repair costs.

Practical Tips for Accurate and Efficient Completion

Adopt consistent templates, review checklists, and digital workflows to minimize revisions.

Use Standard Templates

Begin from a vetted template to ensure all essential clauses are present and reduce negotiation cycles.

Pre-populate Repeated Data

Auto-fill party names, addresses, and standard clauses to reduce manual entry errors.

Require Legal and Finance Sign-off

Establish an approval step for high-value or unusual terms to limit post-execution disputes.

Preserve Audit Trail

Store signed PDFs with metadata and an audit trail showing timestamps, signer identity, and IP address.

Comparing eSignature Providers for Executing Owner Agreements

Basic pricing and feature differences can affect compliance, bulk execution, and costs for high-volume Owner Agreement workflows.

	signNow	DocuSign	Adobe Sign	PandaDoc	HelloSign
Starting Price	$8/user/mo	$15/user/mo	$14/user/mo	$19/user/mo	$15/user/mo
Free Trial	7-day trial	Varies	Varies	Varies	Varies
Bulk Send	Yes	Yes	Yes	Yes	No
Audit Trail	Yes	Yes	Yes	Yes	Yes
HIPAA Compliant	Yes	Yes	Yes	No	No

Owner Agreement FAQs and Troubleshooting

Answers to common questions about validity, signatures, notarization, and corrections.

Need help? Contact support

Is an electronic signature enforceable?
Yes. Electronic signatures are legally valid for most transactions under the federal ESIGN Act (15 U.S.C. ch. 96) and state UETA laws, provided the signing demonstrates intent, consent, attribution, and reliable record retention.
When is notarization required?
Notarization is required for certain real property conveyances, some powers of attorney, and documents needing acknowledgment. Requirements vary by state; confirm with the relevant Secretary of State or notary rules.
Can I use remote online notarization (RON)?
Many states permit RON with identity proofing and audio-video recording, but rules differ. If you need RON, verify the state's permanent RON status and retention rules before proceeding.
What if a signer’s name is incorrect?
Incorrect signer names can complicate enforceability and tax reporting. Correct via an amendment or re-execution; retain both versions and document the reason for change.
Do I need a witness?
Witness requirements depend on document type and state law; for example, some states require two witnesses for deeds or certain powers of attorney. Check state-specific rules before execution.
How do I revoke or amend the agreement?
Use the termination or amendment procedures specified in the contract. For revocation, deliver written notice per contractual notice provisions; amendments typically require written agreement signed by all parties.

be ready to get more

Join over 28 million airSlate SignNow users

Sign Now