What is a Transfer Agreement
Why should you have an attorney assist you with your transfer agreements? As with certain businesses, there may come a time where the business may change ownership. The ownership change may come through acquisition or a merger with another business. Additionally, businesses may need to dissolve. Irrespective of what decision is made with respect to the business, having transfer documentation to memorialize the transaction is essential. The transfer documents can take many forms. It can be to purchase just the assets, the ownership interest or shares of stock of the corporation, or to place the company in dissolution proceedings.
Transfer documents are very important to not only show proof the transaction took place but also dictate how the transfer itself is to occur (e.g., payment plan as opposed to a lump sum, participation requirements by the seller, divvying up assets if the company is to dissolve, etc.). Therefore, having these transfer documents are vital both to avoid ambiguity if the transfer is to take place and avoid potential lawsuits. Attorneys are excellent at transfer documents as they know how the wording must be displayed in order to effectuate the intent of the parties involved. They can also spot inconsistencies in what parties are looking to accomplish and fill those gaps.
Benefits of having an attorney represent you with your business transfer
- Attorneys are knowledgeable regarding the law.
- Can ensure your rights are protected and acknowledged in the contracts to be signed.
- Can negotiate with the other party as needed throughout the entire process to reach an amicable conclusion.
How long does it take to have a custom Transfer Agreements?
Approximately 1-2 business days*
*Depending on Specifications
Why SG Law Group?
We take great pride in preparing all the necessary documents needed to consummate the transfer of ownership and/or dissolution of companies. Additionally, our attorneys will review the terms of the particular transaction to determine whether or not additional documentation is necessary to protect the interests of our clients such as promissory notes. Do have any questions? Do you want to know if our firm will be the right fit for your matter? Give us a call. We would love the opportunity to see if SG Law Group and you would make a good fit.
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