Suffolk New York Acuerdo de Venta de Negocio por Propietario Único con el Vendedor para Financiar Parte del Precio de Compra - Agreement for Sale of Business by Sole Proprietorship with Seller to Finance Part of Purchase Price

• Category: Ventas comerciales: acuerdos de compra
• State: Multi-State
• County: Suffolk
• Control #: US-00642BG
• Format: Word

Description

This form involves the sale of a small business whereby the Seller will finance part of the purchase price by a promissory note secured by a mortgage or deed of trust and a security agreement evidenced by a UCC-1 financing statement. The Suffolk New York Agreement for Sale of Business by Sole Proprietorship with Seller to Finance Part of Purchase Price is a legal document that outlines the terms and conditions of transferring ownership of a business from a sole proprietor to a buyer, where the seller agrees to finance a portion of the purchase price. This agreement is specific to businesses located in Suffolk County, New York. Key elements covered in this agreement include a detailed description of the business being sold, the purchase price, and the financing terms agreed upon between the seller and the buyer. The agreement also specifies the obligations and responsibilities of both parties regarding the transfer of ownership, including any existing leases, contracts, or licenses associated with the business. There can be variations of the Suffolk New York Agreement for Sale of Business by Sole Proprietorship with Seller to Finance Part of Purchase Price depending on specific circumstances. Some important variations may include: 1. Suffolk New York Agreement for Sale of Business with Seller Financing: This agreement is tailored for sole proprietorship located in Suffolk County, where the seller entirely finances the purchase price, without any involvement from external financial institutions. 2. Suffolk New York Agreement for Sale of Business by Sole Proprietorship with Seller Financing and Assistance: This version of the agreement includes additional provisions where the seller not only finances a part of the purchase price but also provides ongoing assistance to the buyer during the transition period as a consultant or mentor. 3. Suffolk New York Agreement for Sale of Business with Seller Financing and Non-Compete Clause: In this variation, the agreement includes a non-compete clause that prohibits the seller from starting a similar business in the same geographic area for a specified period. This ensures that the buyer has a fair chance to establish and grow the purchased business without direct competition from the seller. It is important for both the buyer and seller to carefully review and negotiate the terms of the Suffolk New York Agreement for Sale of Business by Sole Proprietorship with Seller to Finance Part of Purchase Price to ensure mutual understanding and legal compliance. It is recommended to seek the assistance of legal professionals experienced in business transactions to draft or review this agreement.

The Suffolk New York Agreement for Sale of Business by Sole Proprietorship with Seller to Finance Part of Purchase Price is a legal document that outlines the terms and conditions of transferring ownership of a business from a sole proprietor to a buyer, where the seller agrees to finance a portion of the purchase price. This agreement is specific to businesses located in Suffolk County, New York. Key elements covered in this agreement include a detailed description of the business being sold, the purchase price, and the financing terms agreed upon between the seller and the buyer. The agreement also specifies the obligations and responsibilities of both parties regarding the transfer of ownership, including any existing leases, contracts, or licenses associated with the business. There can be variations of the Suffolk New York Agreement for Sale of Business by Sole Proprietorship with Seller to Finance Part of Purchase Price depending on specific circumstances. Some important variations may include: 1. Suffolk New York Agreement for Sale of Business with Seller Financing: This agreement is tailored for sole proprietorship located in Suffolk County, where the seller entirely finances the purchase price, without any involvement from external financial institutions. 2. Suffolk New York Agreement for Sale of Business by Sole Proprietorship with Seller Financing and Assistance: This version of the agreement includes additional provisions where the seller not only finances a part of the purchase price but also provides ongoing assistance to the buyer during the transition period as a consultant or mentor. 3. Suffolk New York Agreement for Sale of Business with Seller Financing and Non-Compete Clause: In this variation, the agreement includes a non-compete clause that prohibits the seller from starting a similar business in the same geographic area for a specified period. This ensures that the buyer has a fair chance to establish and grow the purchased business without direct competition from the seller. It is important for both the buyer and seller to carefully review and negotiate the terms of the Suffolk New York Agreement for Sale of Business by Sole Proprietorship with Seller to Finance Part of Purchase Price to ensure mutual understanding and legal compliance. It is recommended to seek the assistance of legal professionals experienced in business transactions to draft or review this agreement.

Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.