The completely free Connecticut Buy-Sell Agreement is a legally binding arrangement that specifies how a partner’s stake of a company must be reassigned if that partner dies or otherwise departs the organization. Many typically, the buy and offer contract settles that the partner’s segment be offered to the remaining partners or to the partnership itself.
Buy-sell arrangements are frequently utilized by business partnerships and closed corporations in an endeavor to smooth over transitions in ownership when a partner passes away, retires, or comes to a decision to quit the organization. The buy-sell agreement stipulates that business slice be offered to the partnership or the remaining business partners of business according to a fixed formula. Without this kind of arrangement in writing, when a partner dies his percentage of the firm would be dealt with by the executor of the will. If the family members do not want to sell the partner’s percentage of the firm, the remaining partners have no legal options to purchase it.
The Connecticut Buy-Sell Agreement document can be customized to fit your demands, in particular if you’re proficient in in editing Microsoft Word documents. You might want to include or erase portions depending upon the specific business arrangement you’re creating with the other partner(s). In the event that there are just 2 partners you can remove references in the document to additional partners. It is your duty to guarantee that the buy-sell agreement form satisfies your precise requirements and consists of all of the arrangements you call for.
Click on the appropriate link under this paragraph to acquire the Connecticut Buy-Sell Agreement in Microsoft Word totally free. The Word version of this document is free. The PDF version is also free but requires more expertise in editing documents..
WORD – Connecticut Buy-Sell Agreement Word
PDF – Connecticut Buy-Sell Agreement PDF
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