The free Nebraska Buy-Sell Agreement is a lawfully binding arrangement that stipulates how a partner’s slice of an organization may be reassigned if that partner dies or otherwise leaves the business. A lot of often, the buy and sell contract provides that the available stake be sold to the remaining partners or to the partnership itself.
Buy-sell contracts are widely utilized by partnerships and closed corporations in an attempt to smooth changes in ownership when a partner passes away, retires, or makes a choice to quit the business. The buy-sell agreement specifies that the firm slice be offered to the company or the remaining partners of business according to an established formula. Without this kind of agreement in writing, when a partner dies his allotment of business would be managed by the executor of the will. The remaining partners have no legal options to buy it if the family members do not wish to sell the partner’s stake of the firm.
This totally free Nebraska Buy-Sell Agreement file can be tailored to suit your goals, in particular if you’re skilled in editing Microsoft Word documents. You may want to add or remove elements depending on the distinct agreement you’re making with the other partner(s). If there are only 2 partners you can erase references in the legal agreement to extra partners.. It is your duty to ensure that the buy-sell agreement form fulfills your specific requirements and includes all of the provisions you require.
Tap or click the correct link underneath this paragraph to download the Nebraska Buy-Sell Agreement in Microsoft Word format . The Word file will instantly transfer so examine the location where files are saved on your computer or mobile device. You may also create the Nebraska 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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