Montana Checklist - Sale of a Business

State:
Multi-State
Control #:
US-04096BG
Format:
Word; 
Rich Text
Instant download

Description

The sale of any ongoing business, even a sole proprietorship, can be a complicated transaction. The buyer and seller (and their attorneys) must consider the law of contracts, taxation, real estate, corporations, securities, and antitrust in many situations. Depending on the nature of the business sold, statutes and regulations concerning the issuance and transfer of permits, licenses, and/or franchises should be consulted. If a license or franchise is important to the business, the buyer generally would want to make the sales agreement contingent on such approval. Sometimes, the buyer will assume certain debts, liabilities, or obligations of the seller. In such a sale, it is vital that the buyer know exactly what debts he/she is assuming.
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FAQ

To cancel a Montana LLC, you will need to draft and file a formal dissolution document with the Secretary of State. It is crucial to wind up your LLC’s business affairs and notify creditors before submitting this document. The Montana Checklist - Sale of a Business can guide you through this procedure, helping you close your business responsibly and legally.

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Montana Checklist - Sale of a Business