Partnership Buy-Sell Agreement

A Partnership Buy-Sell Agreement is a legal document that outlines the terms and conditions for the transfer of a partner’s ownership interest in the partnership. It typically includes provisions for the valuation of the partnership, the triggering events that would require a partner to sell their interest (such as death, disability, or retirement), and the method for determining the purchase price. The agreement may also address issues such as the financing of the purchase, the rights of first refusal for the remaining partners, and the confidentiality of the transaction. A Partnership Buy-Sell Agreement helps to ensure a smooth and orderly transition of ownership and can help to minimize the risk of legal disputes or financial losses.