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Buy Sell Agreement

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Buy Sell Agreement

File Type: Word      Price: $9.99        

                                                                         

Summary:

Protect your business and get peace of mind by setting up a Buy-Sell Agreement. This legally binding contract can be used with all types of businesses. In this case it is dealing with real estate, but it can be used for any type of business ownership structure. This buy-sell agreement stipulates that upon the death, retirement, disability or other withdrawal of a principal, his or her share of the real estate or business must be sold to the remaining partners/shareholders or the business in accordance with the agreement. 

 

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STANDARD FORM

PURCHASE AND SALE AGREEMENT

1.      PARTIES

This ______day of ___________________.

hereinafter called the SELLER, agrees to SELL and hereinafter called the BUYER or PURCHASER, agrees to BUY, upon the terms hereinafter set forth, the following described premises:

2.         DESCRIPTION

The land with the buildings thereon known as  ___________________________________________,  said parcel being more particularly described by a Deed recorded with the Registry of Deeds at Book ___________Page_______________________

 3.         BUILDINGS, STRUCTURES, IMPROVEMENTS, FIXTURES

          Included in the sale as a part of said premises are the buildings, structures, and improvements now thereon, and the fixtures belonging to the SELLER and used in connection therewith including, if any, all wall-to-wall carpeting, drapery rods, automatic garage door openers, Venetian blinds, window shades, screens, screen doors, storm windows and doors, awnings, shutters, furnaces, heaters, heating equipment, stoves, ranges, oil and gas burners and fixtures appurtenant thereto, hot water heaters, plumbing and bathroom fixtures, garbage disposers, electric and other lighting fixtures, mantels, outside television antennas, fences, gates, trees, shrubs, plants, and, ONLY IF BUILT IN,

Refrigerators, air conditions equipment, ventilators, dishwashers, washing machines and dryers; but excluding:

4.         TITLE DEED

            Said premises are to be conveyed by a good and sufficient quitclaim deed running to the BUYER, or to the nominee designated by the BUYER by written notice to the SELLER at least seven (7) days before the deed is to be delivered as herein provided, and said deed shall convey a good and clear record and marketable title thereto, free from encumbrances, except

(a)        Provisions of existing building and zoning laws:

(b)        Existing rights and obligations in party walls which are not the subject of written agreement:

(c)        Such taxes for the then current year as are not due and payable on the date of the delivery of such deed;

(d)        Any liens for municipal betterments assessed after the date of this agreement;

(e)        Easements, restrictions and reservations of record, if any, so long as the same do not interfere with the current use of said premises as a single family dwelling;

 

5.         PLANS

 

            If said deed refers to a plan necessary to be recorded therewith the SELLER shall deliver such plan with the deed in for adequate for recording or registration.

 

6.         REGISTERED TITLE

 

            In addition to the foregoing, if the title to said premises is registered, said deed shall be in form sufficient to entitle the BUYER to a Certificate of Title of said premises, and the SELLER shall deliver with said deed all instruments, if any, necessary to enable the BUYER to obtain such Certificate of Title.

 

7.         PURCHASE PRICE

 

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