Sacramento California Acuerdo de compraventa entre copropietarios de bienes inmuebles - Buy Sell Agreement Between Co-Owners of Real Property

• Category: Inmobiliaria - Contratos - Compra Venta
• State: Multi-State
• County: Sacramento
• Control #: US-00853BG
• Format: Word

Description

This form is set up as a Buy Sell Agreement between co-owners of rental property. It applies in the case of the death or offer of a co-owner to sell his interest in the property during his lifetime. A Sacramento California Buy Sell Agreement Between Co-Owners of Real Property is a legally binding contract that outlines the terms and conditions of selling and buying real estate between co-owners in Sacramento, California. This agreement is crucial for co-owners of a property to establish a clear framework for future transactions, ensuring a smooth and fair process. In Sacramento, there are various types of Buy Sell Agreements commonly used between co-owners of real property: 1. Cross-Purchase Agreement: This type of agreement allows individual co-owners to purchase the shares or interest of another co-owner in the event of specific triggering events, such as death, divorce, or voluntary sale. Essentially, when a triggering event occurs, the remaining co-owners are given the opportunity to buy the departing co-owner's share. 2. Entity or Stock Redemption Agreement: Unlike the Cross-Purchase Agreement, this type of agreement involves a formal entity, such as an LLC or CORPORATION, buying back the shares of the co-owner who wishes to sell. The remaining co-owners then distribute the purchased shares among themselves in proportion to their ownership percentages. 3. Right of First Refusal Agreement: This agreement grants the co-owners the first opportunity to purchase the selling co-owner's share before it can be sold to any external party. It aims to maintain the existing co-ownership structure by giving the remaining co-owners the priority to acquire the shares being sold. 4. Shared Equity Agreement: In this type of agreement, co-owners agree to share the equity on the property when it is sold. The distribution is typically based on each co-owner's initial investment or their contribution towards the property's maintenance and improvement. A Sacramento California Buy Sell Agreement typically includes vital components, such as: — Identification of the parties involved: The agreement establishes the names, addresses, and ownership percentages of each co-owner. — Triggering events: The agreement specifies events that can trigger the buy-sell process, which commonly include death, divorce, disability, bankruptcy, or voluntary sale. — Purchase terms and price: It outlines the terms for purchasing the departing co-owner's share, including the price calculation, payment method, and any financing options. — Valuation method: The agreement defines the method for determining the property's value, such as hiring a professional appraiser or using a predetermined formula. — Dispute resolution: It includes provisions for resolving disputes that may arise during the buy-sell process, such as mediation or arbitration. — Governing law and jurisdiction: This section specifies which jurisdiction's laws govern the agreement and where disputes will be resolved. A well-drafted Sacramento California Buy Sell Agreement Between Co-Owners of Real Property provides the framework for a smooth transition of ownership, promotes fairness among co-owners, and protects their respective interests when selling or buying real estate. It is essential to consult with a qualified legal professional to create an Agreement appropriate for the specific situation and comply with the relevant laws in Sacramento, California.

A Sacramento California Buy Sell Agreement Between Co-Owners of Real Property is a legally binding contract that outlines the terms and conditions of selling and buying real estate between co-owners in Sacramento, California. This agreement is crucial for co-owners of a property to establish a clear framework for future transactions, ensuring a smooth and fair process. In Sacramento, there are various types of Buy Sell Agreements commonly used between co-owners of real property: 1. Cross-Purchase Agreement: This type of agreement allows individual co-owners to purchase the shares or interest of another co-owner in the event of specific triggering events, such as death, divorce, or voluntary sale. Essentially, when a triggering event occurs, the remaining co-owners are given the opportunity to buy the departing co-owner's share. 2. Entity or Stock Redemption Agreement: Unlike the Cross-Purchase Agreement, this type of agreement involves a formal entity, such as an LLC or CORPORATION, buying back the shares of the co-owner who wishes to sell. The remaining co-owners then distribute the purchased shares among themselves in proportion to their ownership percentages. 3. Right of First Refusal Agreement: This agreement grants the co-owners the first opportunity to purchase the selling co-owner's share before it can be sold to any external party. It aims to maintain the existing co-ownership structure by giving the remaining co-owners the priority to acquire the shares being sold. 4. Shared Equity Agreement: In this type of agreement, co-owners agree to share the equity on the property when it is sold. The distribution is typically based on each co-owner's initial investment or their contribution towards the property's maintenance and improvement. A Sacramento California Buy Sell Agreement typically includes vital components, such as: — Identification of the parties involved: The agreement establishes the names, addresses, and ownership percentages of each co-owner. — Triggering events: The agreement specifies events that can trigger the buy-sell process, which commonly include death, divorce, disability, bankruptcy, or voluntary sale. — Purchase terms and price: It outlines the terms for purchasing the departing co-owner's share, including the price calculation, payment method, and any financing options. — Valuation method: The agreement defines the method for determining the property's value, such as hiring a professional appraiser or using a predetermined formula. — Dispute resolution: It includes provisions for resolving disputes that may arise during the buy-sell process, such as mediation or arbitration. — Governing law and jurisdiction: This section specifies which jurisdiction's laws govern the agreement and where disputes will be resolved. A well-drafted Sacramento California Buy Sell Agreement Between Co-Owners of Real Property provides the framework for a smooth transition of ownership, promotes fairness among co-owners, and protects their respective interests when selling or buying real estate. It is essential to consult with a qualified legal professional to create an Agreement appropriate for the specific situation and comply with the relevant laws in Sacramento, California.

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.