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Buy Sell Agreement Package - Tennessee

Buy Sell Agreement Package - Tennessee 2026

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The document is a Buy-Sell Agreement Package from U.S. Legal Forms, Inc., specifically designed for Tennessee. It includes various legal forms that facilitate the sale of a partner's or shareholder's interest in a partnership or corporation, ensuring control over such transactions. The package contains agreements for shareholders and partners, a non-compete agreement, and clauses adaptable for specific needs. Additionally, it provides tips for completing the forms and includes a disclaimer regarding the use of these materials.

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Click ‘Get Form’ to open the Buy Sell Agreement Package in the editor.
Begin with the 'Buy-Sell Agreement Between Shareholders of a Corporation'. Fill in the total value of capital stock and procedures for handling a stockholder's death.
Next, complete the 'Buy-Sell Agreement Between Partners of Partnership'. Specify the terms for selling a partner's interest and establish a fair price for purchase.
Proceed to the 'Non-Compete Agreement Between Buyer and Seller'. Customize this form by defining the industry, territory, and duration of non-compete obligations.
Fill out the 'Buy-Sell or Stock Purchase Agreement' ensuring you include provisions for funding through life insurance if applicable.
Lastly, review and adapt the 'Buy-Sell Clauses and Related Material' to fit your specific partnership needs. Ensure all fields are completed accurately before finalizing.

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What is another name for a buy-sell agreement?

Sometimes referred to as a business will or a business prenup, buy-sell agreements are used by sole proprietorships, partnerships. Limited Liability Companies (LLC) and closed corporations to divide the business share or interest of a proprietor, partner or shareholder.

What are the different types of buy-sell agreements?

TYPES OF BUY-SELL AGREEMENTS Buy-sell agreements can be structured under various forms, including 1) entity redemption, 2) cross purchase, 3) cross endorsement, 4) wait-and-see and 5) a one-way agreement.

What are the different types of purchase agreements?

The four types are standard purchase orders, planned purchase orders, blanket purchase orders, and contract purchase orders.

How much does a buy-sell agreement cost?

Explore real-world pricing data for hiring a lawyer to handle a buy sell agreement in California through ContractsCounsels legal marketplace. Based on 156 bids submitted by lawyers, the average flat-fee proposal is $1,060, representing an estimated 58% savings compared to traditional law firm pricing.

Is a buy-sell agreement legally binding?

The agreement can be funded by each owner purchas-ing a life and/or disability insurance policy on the life of the other owners. Insurance is often a very efficient method of funding a buy-sell arrangement.