The completely free Washington DC Buy-Sell Agreement is a lawfully binding contract that conditions how a partner’s stake of a company will be reassigned if that partner dies or otherwise quits the business enterprise. Many often, the buy and sell contract settles that the available slice be offered to the remaining business partners or to the partnership itself.
Buy-sell agreements are often used by business partnerships and closed corporations in an attempt to smooth out transformations in ownership when a partner dies, retires, or elects to leave the firm. The buy-sell agreement stipulates that business segment be offered to the business enterprise or the remaining members of business according to a fixed formula. Without this kind of agreement in writing, when a partner dies his stake of the business enterprise must be managed by the executor of the will. If the family members do not wish to sell off the partner’s percentage of the partnership, the staying partners have no legal choices to purchase it.
The Washington DC Buy-Sell Agreement file can be personalized to fit your demands, in particular if you’re competent in editing Microsoft Word documents. You might want to include or omit areas depending on the specific setup you’re creating with the other partner(s). If there are just two partners you can remove references in the business agreement to additional partners.. It is your responsibility to make sure that the buy-sell agreement form meets your specific needs and includes all of the provisions you need.
Tap or click the appropriate link underneath to save the Washington DC Buy-Sell Agreement in Microsoft Word format free of charge. The Microsoft Word document will quickly download to your device so look into the location where files are put on your system. You may also create the Washington DC 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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