This absolutely free Arizona Buy-Sell Agreement is a lawfully binding arrangement that conditions how a partner’s share of a business enterprise may legally be reassigned if that partner dies or otherwise departs the entity. Many typically, the buy and offer contract details that the exiting partner’s allotment be offered to the other partners or to the partnership itself.
Buy-sell arrangements are typically utilized by business partnerships and closed corporations in an effort to smooth over transitions in ownership when a partner dies, retires, or makes a decision to depart the business. The buy-sell agreement requires that the partnership allotment be sold to the business or the other members of the organization according to an established formula. Without this kind of arrangement in writing, when a partner dies his portion of business would have to be dealt with by the executor of the will. The remaining partners have no legal alternatives to buy it if the family members do not wish to sell the partner’s allotment of the business enterprise.
The completely free Arizona Buy-Sell Agreement document can be personalized to suit your needs, particularly if you’re knowledgeable in editing Microsoft Word documents. You may want to incorporate or delete segments depending on the precise arrangement you’re creating with the other partner(s). In the case that there are just two partners you can omit mentions in the documentation to additional partners. It is your duty to guarantee that the buy-sell agreement form satisfies your precise requirements and includes all of the provisions you call for.
Click the appropriate link under this paragraph to save the Arizona Buy-Sell Agreement in Microsoft Word format totally free. The Word version of this document is free. The PDF version is also free but requires more expertise in editing documents..
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