Do you want to sell a members interest in a close corporation (CC) to another person? It is easy to do, and very similar to selling shares in a company. For example, one person owns 100% of the members interest in a CC and they want to sell the CC to another person. Or two people each own 50% and one of them sells their 50% to another person. They would enter into a Sale of Members Interest Agreement regulating the sale. Remember that only a natural person or a trust can be a member of a CC.
The agreement deals with important issues like:
- How much will the buyer pay and when?
- When does benefit and risk pass?
- Does the seller give any warranties?
- How will disputes be resolved?
Who is a Sale of Members Interest Agreement suitable for?
The members of any close corporation.
What you get?
The agreement will be:
- drafted in plain language so you can understand it
- up-to-date with the lastest law
- includes the latest alternative dispute resolution clause
- in editable format so you can make changes
- well structured
We will answer your questions and ensure that you do it correctly.
What is the process?
- We will ask you various questions and gather the necessary information.
- We create the necessary document customised for you. You review and approve it.
- We send you a final version of the agreement and the relevant people sign them.