Massachusetts Sale of Deceased Partner's Interest to Surviving Partner in the form of a Purchase Agreement and Bill of Sale

State:
Multi-State
Control #:
US-00685BG
Format:
Word; 
Rich Text
Instant download

Description

This form is a sample of a simple agreement whereby the estate of a deceased partner in a business sells all interest of the deceased partner in the partnership to the surviving partner.
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FAQ

The executor of a deceased partner refers to an individual who takes the place of a partner in the firm and is responsible for fulfilling all the remaining obligations of the deceased partner.

In most cases, the executor of a will is going to be the deceased person's spouse, especially if their estate is being left to the spouse, ing to Morgan. If the estate is going to the children, then the child getting the majority of the property will be named executor of a will.

Spouses cannot automatically be executors of their deceased spouse's estate for the following reasons: Wills must nominate the surviving spouse. It is necessary to probate the will of a deceased spouse; and. Survivor spouses must be qualified, eligible, and appointed by the court as executors.

The person who sorts out your property when you die and carries out the instructions in your will is called your executor.

The term "executor/surviving partner" is used to refer to a surviving partner who was appointed executor of the deceased partner's estate.

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Massachusetts Sale of Deceased Partner's Interest to Surviving Partner in the form of a Purchase Agreement and Bill of Sale