This free California Buy-Sell Agreement is a lawfully binding written agreement that stipulates how a partner’s stake of a company may be reassigned if that partner dies or otherwise departs the firm. A lot of frequently, the buy and offer agreement stipulates that the exiting partner’s stake be sold to the remaining business partners or to the partnership.
Buy-sell arrangements are extensively utilized by business partnerships and closed corporations in an attempt to smooth out shifts in ownership when a partner dies, retires, or decides to depart the business. The buy-sell agreement stipulates that the business stake be sold to the business or the remaining partners of business according to an established formula. Without this kind of contract in writing, when a partner dies his segment of the business enterprise should be dealt with by the executor of the will. The remaining partners have no legal options to purchase it if the family members do not wish to sell the partner’s stake of the organization.
The completely free California Buy-Sell Agreement file can be personalized to suit your requirements, especially if you’re competent in editing Microsoft Word documents. You may want to mix in or expunge portions depending upon the particular business agreement you’re making with the other partner(s). In the event that there are only 2 partners you can expunge references in the document to additional partners. It is your duty to ensure that the buy-sell agreement form fulfills your precise requirements and consists of all of the provisions you call for.
Tap or click the correct link listed below to acquire the California Buy-Sell Agreement in Microsoft Word free of charge. The Word version of this document is free. The PDF version is also free but requires more expertise in editing documents..
WORD – California Buy-Sell Agreement Word
PDF – California Buy-Sell Agreement PDF
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