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what are cross- purchase and entity purchase agreements attorney Steven spok says in the purest context cross- purchase agreements and entity purchase Agreements are two types of what are more commonly referred to as Buy sell agreements where if there is more than one owner of the business and one of those owners dies or becomes disabled either the other owner or the business itself would buy the stock of the business owner who has died or has become disabled in the context of business secession planning often for example if the senior generation that runs the business is passing ownership On to the Next Generation and the Next Generation consists of two or more children who are a part of the business then the next generation is going to want to have a cross purchase agreement or an entity purchase Buy sell agreement so that if one of them were to die or become disabled their interest could be purchased by the other owners of the business and the family of the deceased owner could be p
