Maricopa Arizona Partnership Buy-Sell Agreement Fixing Value and Requiring Sale by Estate of Deceased Partner to Survivor in Two Person Partnership with Each Partner Owning 50% of Partnership is a legal agreement that outlines the terms and conditions for the transfer of ownership of a partnership in the event of a partner's death. This type of agreement is designed to ensure a smooth transition of ownership and to protect the interests of both partners involved. The Maricopa Partnership Buy-Sell Agreement outlines the process of determining the value of the partnership and requires the estate of the deceased partner to sell their share to the surviving partner. This agreement is particularly relevant for partnerships in Maricopa, Arizona, where many small businesses and startups opt for a partnership structure. There are two main types of Maricopa Arizona Partnership Buy-Sell Agreement Fixing Value and Requiring Sale by Estate of Deceased Partner to Survivor in Two Person Partnership with Each Partner Owning 50% of Partnership: 1. Fixed Value Buy-Sell Agreement: This type of agreement fixes the value of the partnership at a predetermined price or through a valuation method agreed upon by both partners. In the event of a partner's death, the estate is obligated to sell their share to the surviving partner at this fixed value. 2. Appraisal Method Buy-Sell Agreement: In this type of agreement, the value of the partnership is determined at the time of the partner's death through an independent appraisal process. The agreement states that the estate must sell the deceased partner's share to the surviving partner at the appraised value. Both types of Maricopa Partnership Buy-Sell Agreements provide a clear mechanism for the transfer of ownership and ensure that the surviving partner can continue to operate the partnership without interference or complications arising from the deceased partner's estate. It is crucial for partners in a two-person partnership, where each partner owns 50% of the partnership, to consider implementing a Maricopa Partnership Buy-Sell Agreement Fixing Value and Requiring Sale by Estate of Deceased Partner to Survivor. Such an agreement not only protects the interests of both partners but also minimizes the potential for disputes and ensures the smooth continuation of the business.
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.