A buy-sell agreement is a legally binding contract between the owners of a business entity (i.e. a corporation, limited liability company, partnership or other business entity). Our Tampa business attorneys and Tampa contract lawyers prepare, negotiate and review buy-sell agreements frequently and can assist you with yours as well.
A triggering event is any event that will cause the transfer of ownership interests in a company or business entity. Theoretically, our Tampa business attorneys and Tampa contract lawyers believe there are an infinite number of triggering events, depending upon the complexity of the buy-sell agreement.
All businesses that are owned by more than one shareholder, partner, member or owner of the business should have a buy-sell agreement that governs the transfer of ownership interests in the event of a triggering event. If you are interested in having a buy-sell agreement prepared, please contact one of our Tampa business attorneys or Tampa contract lawyers today.
Practically speaking, when a shareholder, partner, member or owner of a Florida business dies without a buy-sell agreement having first been executed, our Tampa business attorneys and Tampa contract lawyers know that the deceased owner's ownership interests pass according to the manner in which all of his/her other assets pass upon death.
Our Tampa business attorneys and Tampa contract lawyers understand that when an owner of a business owns the business with other shareholders, partners, members or owners who are not his/her spouse, the divorcing owner's spouse has the right to, and likely will, ask the court for half of the ownership interests in a business owned by the owner.
Our Tampa business attorneys and Tampa contract lawyers understand that serious problems can arise when a business owner approaches the age of retirement without a buy-sell agreement in place.
If you are in need of a Tampa business attorney, Tampa contract lawyer or Tampa real estate attorney to review, negotiate or prepare your contract or buy-sell agreement, or to handle your business, real estate or commercial transaction, please feel free to contact us at any time.
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