stars Over 2,600 Happy South African Businesses

Buy & Sell Agreement – 2 Parties being legal entities, Death & Disability

Buy & Sell Agreement – 2 Parties being legal entities, Death & Disability

stars Over 2,600 Happy South African Businesses

R 401,50

Legal agreement between entities: Buy-Sell. Death/Disability triggers sale of ownership interest.

  • Provides ownership continuity.
  • Ensures fair market value.
  • Avoids disputes and uncertainty.
How do I receive my documents once I have paid for them?

Once your order is complete, you will be granted download permission for the document. You will:

  • See download links on the order received page after you have checked out.
  • Receive an email notification which will include download links.
  • Have access to your downloads via the Downloads tab on your ‘My Account’ page when logged in to your account on this website.
What format do you provide the document in?

You’ll receive the document in Microsoft Word. A small number of our documents are only available in PDF, in which case this is stated in the document summary.

What if I don't receive the link?

The two most common reasons for people not receiving the link are : (i) The e-mail address entered into the order form was incorrect; or (ii) the e-mail was directed into your spam folder. First please check your spam folder. If it is not there, contact us.

How can I tell if the document is suitable for my requirements?

Each document is accompanied by a description. Read the description to see if it will meet your requirements. If you are still uncertain, you can Contact Us with a brief overview of what you need the document for and we will respond as soon as possible.

Can I make changes to the contracts and legal documents?

Our documents are provided in MS Word format, allowing you to adjust and alter the agreement as you require. If you do not have legal experience we do caution you to be circumspect about the extent of the changes that you make.

Our Clients & Partners

BUY & SELL AGREEMENT

 2 parties, being legal entities

 Death & Disability

Summary A Buy and Sell Agreement may be used to protect the shares of a company in the event of the death or disability of one of the shareholders. It is intended to be used where there are two shareholders, with one or both of the shareholders being a legal entity. The Agreement provides for the remaining shareholder to buy the deceased or disabled party’s shares.

Do you only want to cover death, and not disability? We have the Buy & Sell Agreement for you.

Why do I need a Buy and Sell Agreement? A written agreement sets out the procedure to be followed if a shareholder dies or becomes disabled. The Agreement provides for the remaining shareholder to buy the equity, and it also refers to any buy and sell life policies that have been taken out to cover the purchase price. Standard Buy and Sell Agreements are usually associated with life insurance policies. But you do not necessarily have to have life insurance policies in place to implement a Buy and Sell arrangement. This contract includes the possibility of the death or disability of a key individual, should one or both of the equity-owners be a legal entity such as a company or a trust.

Who should use a Buy and Sell Agreement? Shareholders in private companies should have a frank discussion with each other on what would happen to the shares should something happen to one of them. A written agreement can be used to record a decision that the one would buy the other out should one of them die or become disabled.

What does the agreement say? The template terms consists of: Definitions; Introduction; Policies; Valuation; Purchase Price; Delivery of Documents; Cession of Policies; Disputes; General.

What does this agreement look like? The document can be printed onto seven pages.

What do you need to do to use the document?

  • Read the template Buy and Sell document to ensure that it suits your requirements. Make any changes as required.
  • Complete Annexure A by including the policy details of any buy and sell insurance policies that may have been taken out.
  • Ensure both shareholders sign the Agreement with each getting a copy of the final, signed agreement.

Also viewed: Key Man Agreement

The Online Agreements Shop cc and its members, staff, legal advisers, partners and consultants, agents and any person associated therewith cannot be held liable for any loss or damage that is incurred or may be incurred by any person as a direct or indirect result of the use of this website or any document or information contained on or obtained from this website, nor as a result of anything that is contained in or left out of any document.

How do I receive my documents once I have paid for them?

Once your order is complete, you will be granted download permission for the document. You will:

  • See download links on the order received page after you have checked out.
  • Receive an email notification which will include download links.
  • Have access to your downloads via the Downloads tab on your ‘My Account’ page when logged in to your account on this website.
What format do you provide the document in?

You’ll receive the document in Microsoft Word. A small number of our documents are only available in PDF, in which case this is stated in the document summary.

What if I don't receive the link?

The two most common reasons for people not receiving the link are : (i) The e-mail address entered into the order form was incorrect; or (ii) the e-mail was directed into your spam folder. First please check your spam folder. If it is not there, contact us.

How can I tell if the document is suitable for my requirements?

Each document is accompanied by a description. Read the description to see if it will meet your requirements. If you are still uncertain, you can Contact Us with a brief overview of what you need the document for and we will respond as soon as possible.

Can I make changes to the contracts and legal documents?

Our documents are provided in MS Word format, allowing you to adjust and alter the agreement as you require. If you do not have legal experience we do caution you to be circumspect about the extent of the changes that you make.

Trusted By 2,600+ Businesses

Legal Templates For All Industries

Legal Templates For All Industries

Backed By Legal Research

BUY & SELL AGREEMENT

 2 parties, being legal entities

 Death & Disability

Summary A Buy and Sell Agreement may be used to protect the shares of a company in the event of the death or disability of one of the shareholders. It is intended to be used where there are two shareholders, with one or both of the shareholders being a legal entity. The Agreement provides for the remaining shareholder to buy the deceased or disabled party’s shares.

Do you only want to cover death, and not disability? We have the Buy & Sell Agreement for you.

Why do I need a Buy and Sell Agreement? A written agreement sets out the procedure to be followed if a shareholder dies or becomes disabled. The Agreement provides for the remaining shareholder to buy the equity, and it also refers to any buy and sell life policies that have been taken out to cover the purchase price. Standard Buy and Sell Agreements are usually associated with life insurance policies. But you do not necessarily have to have life insurance policies in place to implement a Buy and Sell arrangement. This contract includes the possibility of the death or disability of a key individual, should one or both of the equity-owners be a legal entity such as a company or a trust.

Who should use a Buy and Sell Agreement? Shareholders in private companies should have a frank discussion with each other on what would happen to the shares should something happen to one of them. A written agreement can be used to record a decision that the one would buy the other out should one of them die or become disabled.

What does the agreement say? The template terms consists of: Definitions; Introduction; Policies; Valuation; Purchase Price; Delivery of Documents; Cession of Policies; Disputes; General.

What does this agreement look like? The document can be printed onto seven pages.

What do you need to do to use the document?

  • Read the template Buy and Sell document to ensure that it suits your requirements. Make any changes as required.
  • Complete Annexure A by including the policy details of any buy and sell insurance policies that may have been taken out.
  • Ensure both shareholders sign the Agreement with each getting a copy of the final, signed agreement.

Also viewed: Key Man Agreement

The Online Agreements Shop cc and its members, staff, legal advisers, partners and consultants, agents and any person associated therewith cannot be held liable for any loss or damage that is incurred or may be incurred by any person as a direct or indirect result of the use of this website or any document or information contained on or obtained from this website, nor as a result of anything that is contained in or left out of any document.