Also known as a "buyout agreement," a buy / sell agreement is a contract between two parties that defines how a business owner will sell his or her interest in the business should he or she leave the business for one reason or another. The agreement also defines how that interest will be purchased and by whom should the business owner die or choose to depart the business. To be effective, a Texas buy / sell agreement must assure that the funds are available to make the prescribed purchase at exactly the time it is needed.
Dean & Draper can assist you in selecting the right funding form for your buy / sell agreement based on your personal needs, the needs of your business, and a complex array of legal and tax issues that will be specific to your situation.
Buy / Sell Agreements determine a number of issues, including:
- Who can purchase the shares of the former business partner
- How much the shares will be purchased for
- What specific conditions would cause a buyout (e.g. death, retirement, shareholder departing the company)
The experts at Dean & Draper want to make sure your Texas business is protected should something happen to you or your business partner. To learn more about Texas buy / sell agreements, please call 1 (888) 266-2680 or (713) 527-0444, or fill out the form below.
