Los Angeles, CA

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Buy-Sell Agreement

A Buy-Sell Agreement, also known as a buyout agreement, sets forth what will happen if one of the co-owners of a company leaves the company for any reason, including death. Usually, the former co-owner must first offer his or her shares for sale to the other co-owner(s) or the company before being allowed to transfer to non-owners of the company (including the estate of a deceased co-owner).