Transferring or Closing a Business in Cedar Rapids
Consult with Our Business Law Attorneys
Transferring a business or closing on the sale of a business can be a complicated transaction. If you are about to engage in such a transaction, you can turn to Howes Law Firm, P.C. for reliable counsel and trusted guidance. We can put decades of experience to work for you to ensure that your closing goes smoothly and to help you avoid any unnecessary pitfalls. Our firm’s longstanding presence in the area has earned us the respect and confidence of business owners, individuals, and families who have enlisted our services since 1989.
Reach out to a Cedar Rapids business transfer and closing lawyer at (319) 264-2922. Your initial consultation is free of charge.
Selling or Transferring a Business in Iowa
There is more than one way to transfer or sell a business, all of which can be accomplished through a detailed contract. Selling a business to an outside party may occur or you may transfer your business to family members, co-owners, or employees.
Sales and transfers may include:
- An outright sale in which the buyer(s) becomes the immediate owner(s) of the business, giving the seller a clean departure with all money paid upfront.
- A gradual sale, where the buyer(s) makes payments over a certain period of time, giving the seller graduated income.
- A lease agreement that temporarily transfers ownership under the terms of its contract.
A business transfer or sales agreement will dictate the terms of the sale or transfer, what is being transferred, and how the goods or services will be handed over. The business’s structure may also come into play, requiring certain legal obligations in a sale or transfer.
Additionally, when selling or transferring a business, the transaction may consist of an entity sale or an asset sale. The type of sale can have an impact on tax liability and benefits for both sellers and buyers.
Outstanding Legal Representation in Cedar Rapids
There can be many moving parts to the negotiation, drafting, and execution of a sale or transfer agreement and in overseeing its closing. At Howes Law Firm, P.C., our business attorneys are well-versed in this complex matter and can apply decades of experience to help you bring your sale or transfer to a successful conclusion.
Talk to one of our accomplished Cedar Rapids attorneys about your sale/transfer today by calling (319) 264-2922.
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