Partner’s Participation

An agreement to sell legally binds decisions and agreements previously reached to protect the business’s operations, if any of a series of circumstances arises in the future.

There are different types of agreements to sell:

• Cross Purchase Agreement – the surviving owners are allowed to buy the deceased owner’s share.
• Entity Purchase Agreement – the business is the only entity allowed to acquire the deceased owner’s share.
• No-Buy/Sell Agreement – allows the remaining owners to take full control of the company and for the heirs to benefit from the company’s prosperity.
• Wait-and-See Purchase Agreement – combines, in a flexible way, the Cross Purchase and Entity Purchase Agreements; in other words, it allows the people in charge to choose either agreement.

For more information contact us at 1-800-806-0080.

The description of these insurance products is subject to the terms and conditions of the policies. INSURANCE PRODUCTS ARE NOT BANK DEPOSITS, ARE NOT SECURED OR GUARANTEED BY THE FDIC OR BY ANY FEDERAL AGENCY, ARE NOT INSURED BY BANCO POPULAR.