The absolutely free Missouri Buy-Sell Agreement is a legally binding contract that specifies how a partner’s share of the partnership may be reassigned if that partner passes away or otherwise departs the business. The majority of frequently, the buy and sell agreement conditions that the exiting partner’s slice be sold to the remaining partners or to the partnership.
Buy-sell arrangements are normally utilized by partnerships and closed corporations in an effort to expedite disruptions in ownership when a partner passes away, retires, or opts to quit the enterprise. The buy-sell agreement states that the business stake be sold to the business enterprise or the other members of the firm according to a fixed formula. Without this kind of arrangement in writing, when a partner dies his percentage of the partnership would be handled by the executor of the will. If the relatives do not want to sell the partner’s share of the organization, the staying partners have no legal options to buy it.
The completely free Missouri Buy-Sell Agreement file can be customized to match your goals, especially if you’re proficient in in editing Microsoft Word documents. You might need to mix in or delete areas depending on the specific arrangement you’re making with the other partner(s). If there are just two partners you can delete references in the legal agreement to additional partners.. It is your responsibility to ensure that the buy-sell agreement form fulfills your specific needs and includes all of the arrangements you require.
Click the relevant link shown below to download the Missouri Buy-Sell Agreement in Microsoft Word totally free. The Microsoft Word file will instantly download to your device so check the directory where documents are saved on your computer or mobile device. You may also create the Missouri Buy-Sell Agreement using our free fillable PDF version. The PDF has fillable fields into which you can type the required information.
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