The absolutely free Florida Buy-Sell Agreement is a legally binding arrangement that conditions how a partner’s percentage of a business enterprise will be reassigned if that partner dies or otherwise leaves the partnership. Most typically, the buy and offer agreement states that the partner’s allotment be offered to the remaining partners or to the partnership.
Buy-sell contracts are typically utilized by partnerships and closed corporations in an endeavor to expedite conversions in ownership when a partner dies, retires, or opts to depart the enterprise. The buy-sell agreement provides that business segment be sold to the business enterprise or the other partners of business according to a predetermined formula. Without this kind of contract in writing, when a partner dies his stake of the partnership would have to be managed by the executor of the will. If the relatives do not want to sell the partner’s allotment of the business, the remaining partners have no legal choices to purchase it.
The completely free Florida Buy-Sell Agreement document can be tailored to suit your goals, particularly if you’re competent in in editing Microsoft Word documents. You might need to mix in or erase parts depending upon the particular agreement you’re creating with the other partner(s). If there are just 2 partners you can delete references in the business agreement to additional partners.. It is your obligation to make sure that the buy-sell agreement form fulfills your precise requirements and includes all of the provisions you require.
Click on the appropriate link listed below to acquire the Florida 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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