CANADA

Transfer depreciable property as part of the sale of a business in Canada with this Property Transfer Agreement.

• The parties agree that the property is being transferred at fair market value.
• The purchaser agrees to issue shares in its capital stock to the seller and assume any outstanding encumbrances on the property as payment of the purchase price.
• The parties agree to make a joint Section 85(1) election under the Income Tax Act (Canada).
• The parties mutually indemnify each other with respect to the transfer.
• The agreement sets out the manner of arriving at an agreed amount for depreciable property subject to subsection 85(5.1) of the Act, and eligible capital property subject to subsection 248(1).
• The parties intend that the purchase price for the assets be an amount equal to the fair market value of the assets at the date of the agreement.
• This template is available in MS Word format, and is fully editable to fit your circumstances.
• This legal document is governed by Canadian tax laws.

Set the terms for payment of royalties on intellectual property with this contract template for Canadian businesses.

• This agreement covers royalties accruing on intellectual property that was developed by the seller, which is being transferred to a purchaser as part of a transfer of business assets.
• The intellectual property will continue to be used by the purchaser in connection with the business operations, and royalties will continue to accrue.
• The purchaser agrees to pay the seller an ongoing royalty for a specified number of years following the closing of the purchase and sale transaction.
• The royalty will be calculated based on the customer base and non-exempted gross earnings of the business.
• This Royalty Agreement refers to the laws of Canada. It can be used in any Canadian province or territory. A French language version may be required in Quebec.

If you're selling a business in Canada, this Bill of Sale form is essential to transfer ownership of the assets to the buyer.

The form is not only a bill of sale, it's also a conveyancing form that transfers, conveys and assigns title to the business assets (such as equipment, vehicles, inventory, trade marks, etc) to the purchaser.

Power of Attorney

With this form, you can also appoint the purchaser as your attorney to demand, receive, give receipts for and deal with the assets being transferred.

Format and Jurisdiction

This downloadable Bill of Sale form is available in MS Word format and is fully editable. It is intended to be used only in Canada.