The Kentucky Buy-Sell Agreement Form is a legally binding written agreement that stipulates how a partner’s allotment of a company will legally be reassigned if that partner passes away or otherwise leaves the partnership. Many typically, the buy and sell agreement states that the partner’s portion be offered to the remaining partners or to the partnership.
Buy-sell agreements are often utilized by partnerships and closed corporations in an endeavor to smooth shifts in ownership when a partner dies, retires, or opts to quit the enterprise. The buy-sell agreement states that the business allotment be offered to the partnership or the remaining business partners of business according to a predetermined formula. Without this type of arrangement in writing, when a partner dies his slice of business should be handled by the executor of the will. The remaining partners have no legal alternatives to purchase it if the family members do not wish to offer the partner’s segment of the enterprise.
This totally free Kentucky Buy-Sell Agreement file can be customized to fit your goals, in particular if you’re skilled in editing Microsoft Word documents. You might want to add in or omit elements depending upon the particular setup you’re making with the other partner(s). IF there are only 2 partners you can erase mentions in the business agreement to extra partners. It is your responsibility to guarantee that the buy-sell agreement form satisfies your exact needs and consists of all of the provisions you require.
Tap or click the appropriate link underneath this paragraph to download the Kentucky Buy-Sell Agreement Form in Microsoft Word totally free. The Microsoft Word file will rapidly transfer so examine the directory where documents are stored on your computer. You may also create the Kentucky 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) – Kentucky Buy-Sell Agreement Form
This Kentucky Buy-Sell Agreement in addition to all other legal records dispensed on this internet site are furnished “as is” without having limited or specific warranties. This consists of, yet is not constricted to, warranty of merchantability or fitness for any type of sort of certain use.
This Kentucky Buy-Sell Agreement was not generated by a lawyer or law practice. If the legal document is legitimately suitable for your criteria, it is your obligation to establish. If required, you have to furthermore make certain that the form is submitted filled out and additionally notarized and/or witnessed.
As a website visitor of this web site, you assume all liabilities along with accountability for applying this Kentucky Buy-Sell Agreement and finalizing. We do not assume any legal duty or responsibility for the correctness or efficiency of the legal form.
By saving, printing, or executing this Kentucky Buy-Sell Agreement, you recognize that we will not be held responsible for injuries or losses, whether indirect or direct, coming from the loss of use or loss of profits emerging from the application or signing of the legal forms or the form templates offered on this web page.