A buy-sell agreement is a legally binding document signed by owners of property (typically a business) placing certain restrictions on the transfer of property and requiring specified actions upon specified events. In its' most common form, a buy-sell will require surviving owners to buy and the estate of a deceased owner to sell his or her business or real estate interest.
Aside from death, other typical purchase-triggering events include retirement, disability, bankruptcy, loss of professional license, divorce and voluntary termination of employment.
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