A buy-sell agreement is very important when there is more than one owner in a business. Such an Agreement Forms specifies what will happen to the share of a co-owner in case he departs. The departure could be due to death or disability or some kind of voluntary departure. The main purpose of such a contract is to make sure that ownership, as well as operations, stay right within the existent management of the company.
Buy Sell Agreement Template
Real Estate Buy And Sell Agreement
This buy-sell agreement would be useful when a seller is selling his property. The form contains space for a legal description of the property and the terms of such an agreement. You may also see Partnership Agreement Forms.
LLC Buy-Sell Agreement
This buy-sell agreement would be viable when it comes to transferability of membership interests and contains sections on potential transfer consequences, purchase price and terms, exit mechanisms and so on.
General Partnership Agreement
You have a standard partnership buy-sell agreement here which comes with sections on all important clauses of such an agreement like business type, the name of the partnership, partnership term, initial capital etc. You can also see Hold Harmless Agreement Forms.
Business Buy-Sell Agreement
You are getting extensive information on buy and sell agreement on this handy book which comes with all relevant chapters like transfer restriction, employment termination, transfer during life and so on.
Stockholder Buy-Sell Agreement
If you want a buy-sell agreement between stockholders, this template is the thing that you need as it’s specifically designed for that purpose and contains all the relevant clauses and sections of such a contract.
Corporate Buy-Sell Agreement
You have a standard corporate buy-sell agreement here which starts with the declaration of the agreement, followed by sections of each important aspect of the form- like recitals, the sale of shares, transferability of shares etc. You may also see Rental Agreement Forms.
Vehicle Buy-Sell Agreement
This buy-sell agreement is regarding the sale of a motor vehicle. It contains basic information on the vehicle as well as a warranty from the seller regarding the right and authority to sell the car.
Buy-Sell Agreement Form
What are The Types of Buy-Sell Agreement?
When it comes to a buy-sell agreement, there are generally two types. The first one is cross-purchase agreement. In this case, you have remaining owners of the company buying out the interest of withdrawing owners. This is to ensure that the business stays within the existing ownership only. The another one is entity purchase agreement. In this case, you have company buying out the interest of withdrawing owners. After you choose the buy-sell agreement, you have to decide on your valuation mechanism. You may also see Operating Agreement Forms.
What are The Tips for Buy-Sell Agreement?
If you are planning to draft the buy-sell agreement, you must specifically mention the consequences to be witnessed in regards to particular trigger events- such as death, voluntary departure, and involuntary departure. Then, you must be careful to be clear about the valuation of shares under different scenarios. The payment terms and payment source should be considered with care. If you are planning a valuation by a 3rd party, be specific about it in the agreement. Don’t forget to revise your agreement before making it official. You can also see Service Level Agreement Forms.
Do you need tips in formatting buy-sell agreement? Creating such a contract is an extensive affair and there are many things to take into account while drafting such an agreement. The templates mentioned above would be handy for you here as it offers you a ready-made and customizable framework for such agreements.
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