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The Owner is willing to enter into an Option with me to develop this land. In effect I become the 'developer'. I would pay a fixed amount for the land when Planning is awarded. I have not yet seen the terms of the Option but have asked for a copy.
I'm examining if I can do a deal with another party to develop the properties, in exchange for them also funding the build. I would give them x% of the profit.
I'm looking into this as my access to a large amount of funding might be limited.
I would like to know if this is typically allowed in Options (that I make such a deal with a 3rd party). Does it then become a joint venture?