This precedent is designed to provide a clear and structured framework for the transfer of business ownership where a proprietor exits due to death, total and permanent disability, or other agreed events.
The document sets out legally binding buy and sell options between business owners, ensuring that ownership can be transferred smoothly and without dispute.
It includes provisions dealing with valuation of the business, funding arrangements (including insurance), and the timing and method of payment for the exiting owner’s interest.
This precedent provides a practical starting point for business succession planning across partnerships, companies and unit trust structures.
Professionally Drafted Legal Precedent
Prepared by experienced Australian commercial lawyers, this precedent provides a comprehensive and reliable framework for real-world use.
The document is fully editable in Microsoft Word and includes an Editing Legal Documents Guide to assist with completing and tailoring the agreement.
Designed for immediate use, it can be adapted to suit a wide range of legal and commercial scenarios.
At A Glance
What This Document Covers
• Buy and sell options between owners
• Transfer of business ownership
• Exit events including death and disability
• Business succession planning
Key Clauses Included
• Buy and sell option mechanisms
• Market valuation provisions
• Insurance funding arrangements
• Payment and transfer provisions
Typical Use
• Business succession planning
• Partnerships and joint ventures
• Shareholder exit arrangements
• Professional practices
Download Details
• Lawyer-drafted precedent
• Suitable for Australian use
• Fully editable Microsoft Word document
• Instant download available immediately after purchase
Drafted by Legal Professionals
Our precedents are prepared by Australian legal practitioners and reflect commonly used legal drafting standards.
Practical and Easy to Use
Each template provides a structured framework that can be adapted to suit the specific transaction or matter.
Instant Access
Download immediately after purchase and edit the document in Microsoft Word to suit your requirements.
Related Precedents
Frequently Asked Questions
What is a buy sell agreement?
A buy sell agreement is a legal document that sets out what happens to a business owner’s interest if they exit the business due to death, total and permanent disability, or other agreed events.
It ensures that the remaining owners can purchase the exiting owner’s share in a structured and legally enforceable way.
When should this agreement be used?
This agreement should be used where a business has multiple owners and there is a need to plan for future exit events such as death, disability, retirement or dispute.
It is commonly used in partnerships, companies and professional practices to ensure business continuity and avoid uncertainty.
Is this agreement legally binding?
Yes, when properly completed and executed, this buy sell agreement is legally binding and enforceable under Australian law.
It is designed as a deed to strengthen enforceability between the parties.
How is the business valued under this agreement?
The agreement allows the parties to determine value either by a pre-agreed method or by appointing an independent expert if agreement cannot be reached.
This helps avoid disputes and ensures a fair market value is applied.
Can this agreement be customised?
Yes, the document is fully editable and designed to be tailored to suit the specific structure of the business, whether it is a partnership, company or trust.
It can also be adapted to align with existing agreements such as shareholders or partnership agreements.
Also Known As
This document may also be referred to as:
• Business succession agreement
• Business buyout agreement
• Partnership buy sell agreement
• Shareholder exit agreement
• Cross option agreement
Buy Sell Agreement – Instant Download
• Lawyer-drafted buy sell agreement
• Suitable for Australian legal use
• Covers death, disability and exit events
• Includes valuation and funding provisions
• Fully editable Microsoft Word document
• Instant download available immediately after purchase
Used by lawyers, businesses and commercial operators across Australia.
Download This Precedent
Instant download. Fully editable Microsoft Word format. Includes practical drafting guidance.