Notary Sale Of Business Agreement

I. Parties Involved

This agreement ("Agreement") is entered into on [DATE], by and between:

• [Seller's Name], residing at [Seller's Address] ("Seller"), and

• [Buyer's Name], residing at [Buyer's Address] ("Buyer"), and

• [Your Name], residing at [Your Company Address] ("Notary Public").

II. Business Sale Details

A. Purchase Price

• The total amount that will be paid to purchase the business is agreed upon to be $[750,000] seven hundred and fifty thousand dollars.

B. Assets Included

• The sale includes the following assets:

  • [Asset 1]: [Real estate property located at 123 Main Street, including the building and land]

  • [Asset 2]: [Fleet of five delivery vehicles, comprising two vans and three trucks]

  • [Asset 3]: [Inventory of 10,000 units of various products]

C. Liabilities Assumed

• The buyer agrees to assume the following liabilities:

  1. [Liability 1]: [Outstanding loans totaling $150,000 secured against the business assets]

  2. [Liability 2]: [Remaining lease obligations for the business premises, amounting to $50,000 annually for the next two years]

  3. [Liability 3]: [Unpaid invoices from suppliers, estimated at $30,000]

III. Warranties

• [Seller's Name] warrants to [Buyer's Name] that:

  1. The individual who is selling possesses a legitimate and sellable ownership right to all of the assets that are presently being sold.

  2. No liabilities are affecting the business that has not been disclosed.

  3. The business operates in compliance with all applicable laws and regulations.

IV. Closing Conditions

• The closing of the sale shall be subject to the following conditions:

  1. [Condition 1]: [Verification of the accuracy of financial statements for the past three years by an independent auditor.]

  2. [Condition 2]: [Obtaining necessary regulatory approvals from relevant authorities for the transfer of licenses and permits.]

  3. [Condition 3]: [Execution of a mutually agreeable transition plan outlining the handover of key operational responsibilities and customer relationships.]

V. Governing Law

The terms, conditions, and any disputes or claims arising out of or in connection with this agreement, or the subject of its legality or validity, shall be governed and interpreted according to the laws of the State of [State].

VI. Signatures

In witness whereof, the parties hereto have executed this Agreement as of the date first above written.

Printed Name of Seller: [Seller's Name]

Date: [Date Signed]

Printed Name of Buyer: [Buyer's Name]

Date: [Date Signed]

Printed Name of Notary Public: [Your Name]

Date: [Date Signed]

Notary Seal (if applicable): [Seal]

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