At DiPietro Law Group, PLLC, we are committed to helping clients throughout Fairfax draft strong agreements that allow them to successfully redeem, sell, or transfer their equity in a business in the event they die or become disabled.
If you own a business or have shares in a company, you need to consult with our legal team to discuss which types of agreements you need to protect your interests. Our skilled lawyers know that planning ahead benefits not only your company and shareholders but your loved ones as well, so stop by our firm today to find out how we can help you strategize for the future.
This type of agreement is between the owners of a business and the company and requires the company itself to redeem ownership interest if the business owners decide they want to depart the venture. Redemption agreements can stipulate which parties can buy or redeem ownership interest, as well as the price.
Sale of Ownership Agreements
With this agreement, the departing business owner must sell or offer to sell their ownership interest to the remaining owners.
Transfer of Ownership Agreements
Under this type of agreement, the departing owner has to transfer their ownership interest to designated individuals or entities.
Why Do I Need These Agreements?
Business owners benefit from redemption, sale, and transfer agreements because these crucial legal tools can:
- Prevent the remaining owners from dealing with untested or unknown successors
- Minimize potential disputes among co-owners
- Eliminate uncertainties when an owner departs the business
Each of the agreements listed above needs to be periodically reviewed by a seasoned attorney to ensure that all the terms and conditions still fit your particular needs and objectives.
To schedule a consultation with one of our lawyers at DiPietro Law Group, PLLC, reach out to us at (888) 530-4374 to speak to a member of our legal team.