QUESTION
I am selling my 50% of my franchise/CA Corp. to my partner and would like to know the necessary steps to complete this transaction.
Asked on Mar 02nd, 2017 on Business Law - California
More details to this question:
We have agreed on the sales price and terms. This is an owner finance transaction payable over 3 years. We are securing the business as collateral.
1 ANSWER
Estate Litigation Attorney serving Redlands, CA
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Price Law Firm, APC
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You may first have to obtain written consent from the Franchisor to sell your interest in the Franchise.
Then you would enter into a written sales agreement and close the transaction.
Answered on Mar 03rd, 2017 at 12:23 PM