Purchase And Sales Agreements

If you are involved in a Florida business as a partner, a member in a limited liability company, or a shareholder in a small corporation, you must take the time to plan for what will happen to the ownership structure in the event of an owner’s death, disability, retirement or any other departure from the business. The best way to do this may be through a purchase-sale agreement, also known as a buy-sell agreement or an asset transfer agreement.

A proper buy-sell agreement also allows principals to sell their shares in the event one partner loses his or her part of the company in a divorce, or dies and passes ownership on to a son or daughter whose ideas do not align with the rest of the owners.

Contemplating The Future

Frese, Whitehead, Anderson & Henderson, P.A.‘s attorneys provide advice and guidance to clients in negotiating, drafting and reviewing purchase and sale agreements.
Our Melbourne lawyers have extensive experience helping clients protect business interests by thinking about the wide array of contingencies and events that could lead to a change in ownership.

If you are just beginning your business, it may seem odd to think about these kinds of changes, but realistically it is only a matter of time before an owner decides to leave. It is virtually impossible to know what your company will look like even five years from now. Planning for transitions ahead of time allows you to protect your investment and avoid potentially bitter ownership disputes.

A Properly Drafted Agreement

An effective buy-sell agreement should provide guidance to business owners during any type of ownership change. At Frese, Whitehead, Anderson & Henderson, P.A., in Brevard County, we encourage our clients to think about a range of possibilities, which may include:

• Circumstances where an owner wants to exit the company to pursue other interests
• How a buyout could be requested
• When will a transfer of ownership be required? (death, bankruptcy, disability, retirement, divorce)
• Restrictions on who has the right to buy in to the business
• Valuation of each owner’s interest
• Payment arrangements

Whether you find yourself in the position of buyer or seller, know that the lawyers of Frese, Whitehead, Anderson & Henderson, P.A., have the experience needed to handle the transition as smoothly as possible. And in the event a dispute does arise, we will use our skills as negotiators and litigators to find a resolution that is acceptable.

Contact A Central Florida Real Estate Contract Lawyer

If you have questions or concerns related to the sale or purchase of assets in central Florida, reach out to Frese, Whitehead, Anderson & Henderson, P.A., for advice. You can reach our Melbourne office by calling 321-984-3300 or by contacting us online.