The completely free Utah Buy-Sell Agreement Form is a legally binding written agreement that specifies how a partner’s slice of a business enterprise may be reassigned if that partner passes away or otherwise exits the business. A lot of frequently, the buy and offer contract details that the partner’s stake be sold to the business’s other partners or to the partnership.
Buy-sell contracts are often utilized by partnerships and closed corporations in an endeavor to smooth conversions in ownership when a partner dies, retires, or makes a choice to quit the partnership. The buy-sell agreement provides that business share be offered to the business or the remaining partners of the firm according to a predetermined formula. Without this type of arrangement in writing, when a partner dies his percentage of the business would have to be handled by the executor of the will. The other partners have no legal alternatives to purchase it if the family members do not wish to offer the partner’s stake of the business.
The totally free Utah Buy-Sell Agreement file can be personalized to match your requirements, especially if you’re knowledgeable in editing Microsoft Word documents. You might need to bring in or expunge areas depending on the individual business arrangement you’re creating with the other partner(s). On the occasion that there are just 2 partners you can delete mentions in the document to extra partners. It is your duty to ensure that the buy-sell agreement form satisfies your exact requirements and consists of all of the arrangements you call for.
Click on the relevant link below this paragraph to acquire the Utah Buy-Sell Agreement Form in Microsoft Word format totally free. The Microsoft Word file will promptly transfer so check the location where files are housed on your computer or mobile device. You may also create the Utah 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.
WORD – Utah Buy-Sell Agreement Form
PDF (fill-in-the-blanks) – Utah Buy-Sell Agreement Form
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