The Kansas Buy-Sell Agreement Form is a lawfully binding agreement that states how a partner’s share of the company will be reassigned if that partner passes away or otherwise leaves the business enterprise. Most frequently, the buy and sell agreement settles that the exiting partner’s portion be offered to the business’s other partners or to the partnership.
Buy-sell arrangements are generally used by partnerships and closed corporations in an endeavor to smooth changes in ownership when a partner passes away, retires, or makes a decision to quit the enterprise. The buy-sell agreement requires that the organization share be sold to the partnership or the other members of the enterprise according to an established formula. Without this kind of contract in writing, when a partner dies his share of the organization must be dealt with by the executor of the will. If the family members do not want to sell off the partner’s allotment of the organization, the staying partners have no legal choices to buy it.
This absolutely free Kansas Buy-Sell Agreement document can be tailored to suit your needs, in particular if you’re skilled in editing Microsoft Word documents. You may want to add or omit elements depending on the distinct arrangement you’re making with the other partner(s). If there are only two partners you can omit references in the document to extra partners.. It is your obligation to make sure that the buy-sell agreement form fulfills your specific needs and includes all of the provisions you require.
Click the correct link shown below to save the Kansas Buy-Sell Agreement Form in Microsoft Word free of charge. The Word document will rapidly download so check the location where downloads are saved on your computer. You may also create the Kansas Buy-Sell Agreement online for free using our free EZ Online Forms. The EZ Online Forms take all the uncertainty out of which information goes on what line. Answer the simple questions and your answers will be electronically filled into the completed form.
PDF (fill-in-the-blanks) – Kansas Buy-Sell Agreement Form
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