Aug 21, 2011 8:09:36 AM / by The Retirement Group (800) 900-5867
Cross Purchase (Crisscross) Buy-Sell Agreement
A cross purchase agreement is a form of buy-sell agreement between the owners of a closely held business. The parties named in the agreement obligate themselves to buy (or sell) an interest in the business at the occurrence of a specified triggering event. The cross purchase agreement is also referred to as a crisscross. The cross purchase agreement provides at least one buyer for an owner's business interest and specifies the pricing and payment methods.
Variations from State to State
How Is It Implemented?
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