Letter of Intent to Purchase Assets and Shares but Not Debt
Write a letter of intent to purchase the assets and shares of a business, but not its debt, with this downloadable and customizable template.
- The LOI is only legally binding insofar as it relates to the negotiations being conducted between the parties with respect to the purchase.
- The buyer will not assume the liabilities or obligations of the business.
- All pre-closing debts are to be paid by the seller.
- The seller will be responsible for preparing and filing the closing income tax return and for terminating all employees.
- The buyer will make employment offers to the employees after the closing.
The Letter of Intent to Purchase Assets and Shares but Not Debt can be easily tailored to fit your particular circumstances. Why pay expensive legal fees when you can do it yourself with this easy template?