Sole Proprietorship Buy-Sell Agreement

Succession planning is vital to the survival of small businesses. This Sole Proprietorship Buy-Sell Agreement can help ensure the continuity of yours.

  • The Agreement is between the owner of a sole proprietorship and an employee who wants to purchase the business when the owner dies, as both parties want the business to continue to exist.
  • On the death of the proprietor, the executor or administrator of the estate will sell the business to the employee.
  • The employee will finance the purchase through proceeds of a life insurance policy on the life of the proprietor.
  • The purchase will include all real property, accounts receivable and other assets of the business.
  • The parties will jointly determine the value of the business at the end of each fiscal year.
  • This is a generic legal contract template which does not contain specific references to the laws of any country and can be used in most common law jurisdictions.
Document Type: Microsoft Word
Last Updated: 03-November-2024
SKU: 399
$17.99
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