Common use of Active Participation Clause in Contracts

Active Participation. While the parties intend that Owner shall actively participate in the management of the Premises and Agent has taken steps to assist in reaching that goal, Owner acknowledges that neither the United States Congress nor the Internal Revenue Service has established any definitive standards for determining active participation in the management of rental investment Premises. Agent does not guaranty that Owner’s participation will be considered active, nor will Agent be responsible for the deductibility of any losses or expenses associated with the Premises.