Encyclopedia Encyclopedia: ABCDEFGHIJKLMNOPQRSTUVWY
Term Definition Buy and Sell Agreement - an arrangement, which is particularly common in a closely held corporation or partnership, whereby the surviving owners agree in advance to purchase the interest of a deceased or withdrawing owner.
Application in Divorce A buy and sell estate tax purposes.

The death) under which the withdrawing partner or his or her heirs are obligated to sell to the survivors.

In divorce actions, courts disagree about the inclusion of goodwill in judgments when a practitioner has signed an partnership of stockholder’s goodwill except by future earnings.

See also Minority Discount.