This free Maine Buy-Sell Agreement Form is a lawfully binding contract that details how a partner’s portion of a business entity will be reassigned if that partner passes away or otherwise quits the organization. A lot of often, the buy and offer arrangement details that the available portion be offered to the remaining partners or to the partnership itself.
Buy-sell agreements are typically utilized by business partnerships and closed corporations in an attempt to smooth out conversions in ownership when a partner dies, retires, or comes to a decision to exit the firm. The buy-sell agreement requires that the partnership allotment be sold to the form or the other business partners of business according to an established formula. Without this type of agreement in place, when a partner dies his share of the business would have to be handled by the executor of the will. The other partners have no legal choices to buy it if the family members do not want to offer the partner’s percentage of the firm.
This absolutely free Maine Buy-Sell Agreement file can be tailored to fit your demands, specifically if you’re skilled in editing Microsoft Word documents. You might want to incorporate or expunge components depending upon the specific agreement you’re creating with the other partner(s). If there are just two partners you can remove references in the agreement to additional partners.. It is your obligation to guarantee that the buy-sell agreement form satisfies your exact requirements and consists of all of the arrangements you require.
Click the appropriate link underneath this paragraph to save the Maine Buy-Sell Agreement Form in Microsoft Word format free of charge. The Word file will almost instantly download so examine the folder where documents are housed on your computer or mobile device. You may also create the Maine 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) – Maine Buy-Sell Agreement Form
This Maine Buy-Sell Agreement alongside all various other legal records presented on this web site are furnished “as is” without limited or express warranties. This consists of, yet is not restricted to, warranty of merchantability or fitness for any type of sort of certain usage.
This Maine Buy-Sell Agreement was not produced by a legal representative or law practice. If the documentation is legally suitable for your demands, it is your responsibility to establish. If needed, you have to similarly make certain that the form is submitted filled out as well as additionally witnessed and/or notarized.
As a webpage visitor of this web site, you assume all duty along with answerability for executing and also applying this Maine Buy-Sell Agreement. We do not assume any type of legal duty or commitment for the accuracy or effectiveness of the legal form.
By acquiring, printing, or performing this Maine Buy-Sell Agreement, you acknowledge that we will not be held accountable for damages or losses, whether absolute or indirect, as a result of the loss of use or loss of profits cropping up from the usage or signing of the legal forms or the form templates supplied on this webpage.