A buy-sell agreement is useful in assuring the orderly transfer of interests in a corporation. By limiting a party's ability to dispose of his or her interest in the corporation, control of the corporation may be assured.
A Buy-sell Agreement of Shareholders of Closely Held Professional Corporation is a legal document that sets out terms and conditions for the sale of shares by the shareholders of a closely held professional corporation. It defines the rights and responsibilities of the shareholders and the corporation, and the mechanism for transferring the shares in case of death, disability, retirement, or other unforeseen events. The agreement also outlines the valuation methods used to determine the value of the shares, and the payment terms and conditions for the sale of the shares. Types of Buy-sell Agreement of Shareholders of Closely Held Professional Corporation include: 1. Cross-Purchase Agreement 2. Redemption Agreement 3. Stock Transfer Agreement 4. Put Option Agreement 5. Wait and See Agreement.
