{"product_id":"buy-sell-agreement-3-parties-legal-entities-death-disability","title":"Buy \u0026 Sell Agreement - 3 or more parties. being legal entities. Death \u0026 Disability","description":"\u003cp style=\"text-align: center;\"\u003e\u003cstrong\u003eBUY \u0026amp; SELL AGREEMENT\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp style=\"text-align: center;\"\u003e\u003cstrong\u003e \u003c\/strong\u003e\u003cstrong\u003e3 or more parties, being legal entities\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp style=\"text-align: center;\"\u003e\u003cstrong\u003e \u003c\/strong\u003e\u003cstrong\u003eDeath \u0026amp; Disability\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eSummary\u003c\/strong\u003e A Buy and Sell Agreement may be used to protect the shares in the event of the death or disability of a company shareholder. It is intended to be used where there are three or more shareholders, with one or more of the shareholders being a legal entity. A Buy and Sell Agreement provides for the remaining shareholders to buy the deceased or disabled party’s shares.\u003c\/p\u003e\n\u003cp\u003eDo you only want to cover death, and not disability? We have a \u003ca href=\"https:\/\/agreementsonline.co.za\/agreements\/buy-sell-agreement-3-parties-legal-entities-death\/\"\u003eBuy \u0026amp; Sell Agreement \u003c\/a\u003efor you.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eWhy do I need a Buy and Sell Agreement? \u003c\/strong\u003eA Buy and Sell Agreement sets out the procedure to be followed if a shareholder dies or becomes disabled. The Agreement provides for the remaining shareholders 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 Agreement includes the possibility of the death or disability of a key individual, should one or more of the equity-owners be a legal entity such as a company or a trust.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eWho should use a Buy and Sell Agreement? \u003c\/strong\u003eShareholders in private companies should have a frank discussion with each other about what will happen to the shares should something happen to one of them, ie. the death or disability of a company shareholder. This Buy and Sell Agreement can be used if they decide that the remaining shareholders would buy the deceased shareholder’s shares in the event of death or disability.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eWhat does the agreement say? \u003c\/strong\u003eThe Agreement consists of: Definitions; Introduction; Policies; Valuation; Purchase Price; Delivery of Documents; Cession of Policies; Disputes; General.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eWhat does this Agreement look like? \u003c\/strong\u003eThe document can be printed onto eight pages.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eWhat do you need to do to use the Buy and Sell Agreement?\u003c\/strong\u003e\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eRead the template Buy and Sell document to ensure that it suits your requirements. Make any changes as required.\u003c\/li\u003e\n\u003cli\u003eComplete Annexure A by adding in the details of any buy and sell insurance policies that may have been taken out.\u003c\/li\u003e\n\u003cli\u003eEnsure all the shareholders sign the Agreement with each getting a copy of the final, signed agreement.\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003cp\u003eAlso viewed: \u003ca href=\"https:\/\/agreementsonline.co.za\/agreements\/contingent-liability-insurance\/\"\u003eContingent Liability Agreement\u003c\/a\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eThe 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.\u003c\/strong\u003e\u003c\/p\u003e\n","brand":"Agreements Online","offers":[{"title":"Default Title","offer_id":61657306136716,"sku":"AO-3485","price":405.88,"currency_code":"ZAR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0793\/0750\/5804\/files\/Residentail-Lease-agreement-1000-_C3_97-1000-px-2024-07-19T125040.285.jpg?v=1790553397","url":"https:\/\/agreementsonline.co.za\/products\/buy-sell-agreement-3-parties-legal-entities-death-disability","provider":"Agreements Online","version":"1.0","type":"link"}