Business transfer agreement

Incorporation of a sole trader or partnership to a company
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Document overview

Comprehensive agreement similar to the other business sale agreements, however, this document provides specifically for matters which will arise when selling to your own company.
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Compliant with the latest law
Document propertied
Document properties
  • Length:10 pages (1428 words)
  • Available in:
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Written in plain English

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About this document

These are agreements for the sale of any type of business by either a limited liability partnership, a company, a by one or more individuals. Net Lawman also host agreements for sale of a company, with or without a business.

First, we cover matters common to most or all of the agreements, then we look at each document in turn.

Who will use these documents?

An individual or company selling or buying a business or enterprise of any type. It is most common for the Buyer to provide the legal agreement. However, Sellers gain an advantage by obtaining the agreement first and making the first negotiation steps in their favour.

Application and features

  • Suits any type of trade or business
  • Extensive use of warranties to encourage full disclosure by the seller

Note: warranties have been used only so far as appropriate to the subject matter of the sale

  • Designed for the deal to be completed on the same day, not at some future time
  • Purchase price apportioned among the assets to simplify tax planning
  • Comprehensive list of matters to be done before completion and documents to be handed to the buyer
  • Full account taken (for Internet businesses) of intellectual property issues such as domain name transfers and web site hosting
  • Provisions to inhibit the seller setting up in competition
  • Terms to cover transfer of leasehold and freehold property (if applicable)
  • Choose from up to 90 individual warranties where required

Contents

  • Terms of the agreement for sale and list of subject matter of sale
  • Provision of purchase price, when and how it is to be paid
  • Practical steps required to complete the transaction
  • Dealing with counting and hand over of stocks
  • Responsibility for creditors and debtors
  • Seller’s warranties
  • Seller’s future activities
  • Mediation of a dispute before court action
  • Other legal issues to negotiate and account for
Sample business transfer agreementFront cover

Recent reviews

Helpful But Lacking Some Info
15 September 2019
Very easy to use and very well designed service. I would however have liked to get more info regarding the application of the documents before having to buy. The agreement I downloaded was for the sale of a sole prop to a PTY LTD company where the deal was not at arms length - but this only became clear after the doc was downloaded. The doc was ideal for the purpose but could have just as well have been the other way around and that would have been frustrating of note.
Gert Koegelenberg
Good
27 May 2019
Good
Jono Rees
Review of the New Zealand version

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