Canada Transfer Agreement on Dissolution of Corporation

Transfer the assets of a dissolving Canadian corporation to its shareholders with this Transfer Agreement on Dissolution of Corporation.

• Upon the dissolution of the corporation, title to the assets is transferred jointly to the shareholders.
• The shareholders undertake joint and several responsibility for the corporation's debts and obligations.
• Any contract that the corporation is party to, which is not assigned to the shareholders, will be held in trust and performed by the corporation on behalf of the shareholders.
• The Agreement contains a power of attorney clause, appointing one of the shareholders as the corporation's attorney to sign documents, transfer property, etc. The appointment is coupled with an interest and will not be revoked.