Common Contracts
1 similar LLC Membership Purchase Agreement contracts
ContractLLC Membership Purchase Agreement • September 26th, 2024
When a member of a limited liability company (LLC) wants to sell part or all of their interest in the LLC to another party, they need an LLC membership purchase agreement. This document helps facilitate the transfer of ownership and ensures all parties involved understand their roles and responsibilities. While both an LLC membership purchase agreement and an LLC membership interest assignment involve transferring interests in an LLC, these documents serve distinct purposes. The former is a sale document, where one party sells some or all of their interest to another, whereas the latter transfers the entirety of one person's interest in the LLC to another without a sale. In most states, using an LLC membership purchase agreement is mandatory. Although it's not required in California, Louisiana, and Georgia, it's still highly advisable to ensure the interests of involved parties are protected and all LLC members are informed about the ownership change. An LLC is a corporate structure th
