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Buy/Sell Agreements in Westchester County

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Many businesses depend on the direct participation of owners, and the existence of trust and good faith between those owners. A buy/sell agreement assists in creating this by formalizing the relationship between the owners, as well as establishing how the business will be handled in the event that one of the owners leaves, or passes away.

At Bronson Law Offices, P.C., we provide all manner of services in the area of business law, including negotiating, drafting, and litigating buy/sell agreements. If you are drafting a buy/sell agreement, or attempting to resolve a legal matter related to such an agreement, a Westchester County lawyer at our firm is available to provide you with dedicated assistance.

When a business is owned by multiple individuals, each individual possesses a "stake," or share, of the business. A buy/sell agreement addresses how these stakes are divided or sold when one of the owners passes away, decides to quit the business, or experiences disability or insolvency. The agreement establishes when the owner is allowed to sell his or her stake, who is able to purchase the stake (in some cases, the departing owner can only sell his or her stake back to the remaining co-owners), and what the acceptable asking price for the stake will be.

Buy/Sell Agreement Disputes

As buy/sell agreements address the ownership structure of a company, they are frequently the subject of dispute or litigation. In a business in which every owner takes an active role in its management, differences over the direction of the business, or personal differences between owners, can lead to disputes over ownership rights and the handling of stakes. An experienced attorney can assist one in drafting a buy/sell agreement that is clear to all parties and reduces the potential for disagreements or legal action in the future.

If you require help in drafting a buy/sell agreement, or settling a legal matter related to such an agreement, contact a Westchester County attorney who can provide you with immediate support.

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