How Do I Sell My Business in Delaware to another business I own?
Full Question:
I have a commercial painting company that I am shutting down and would like my new company to purchase the assets and phone number. I had just purchased Delaware Sale Of Business Package #DE-PO18-PKG from Us Legal Forms. Is this all legal to complete the sale of one business to the other in the state of Delaware?
06/22/2009 |
Category: Corporations |
State: Delaware |
#17122
Answer:
The DE-P018-PKG package contains the following forms:
1) Agreement for Sale of Business- Sole Proprietorship
2) Asset Purchase Agreement
3) Bill of Sale for Personal Assets
4) Promissory Note
5) Landlord's Consent to Assignment of Lease
6) Retained Employees Agreement
7) Noncompetition Covenant by Seller
8) Profit and Loss Statement
Please see the information at the following link for further discussion:http://corp.delaware.gov/howtoform.shtml9) Bill of Sale in Connection with Sale of Business by Individual or Corporate Seller
This package is appropriate for the sale of a sole proprietorship, meaning that corporate status has not been registered with the state. The forms included are legally enforceable in Delaware. It is possible that other forms may be required, depending on all the facts and documents involved. For example, there may be applicable licensing requirements.