Membership Unit Purchase Agreement
An agreement in which a limited liability company buys back the membership units held by an individual owner, paying with a promissory note. A company and a departing owner use it to close out the owner's stake. At closing the seller transfers the units to the company free and clear of encumbrances.
Category
Purchase Agreements
Jurisdiction
US - General
What's included
- Confidentiality
- Representations & Warranties
- Payment Terms
This document is a starting-point template only. It does not constitute legal advice, and no attorney-client relationship is created by your use of this site. Consult a licensed attorney in the relevant jurisdiction before execution.
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Frequently asked questions
Is this Membership Unit Purchase Agreement legally binding?
Yes — once properly completed, signed by the parties, and (where applicable) witnessed, this membership unit purchase agreement is intended to be an enforceable agreement. It is provided for information only and is not legal advice.
Can I edit this Membership Unit Purchase Agreement?
Yes. You receive the document in editable Microsoft Word (.docx) format so you can tailor the parties, terms, and clauses to your specific deal.
What jurisdiction does this Membership Unit Purchase Agreement cover?
This document is drafted for use in US - General. Because laws differ by jurisdiction, review it with a qualified attorney before relying on it elsewhere.
How do I get the Membership Unit Purchase Agreement after purchase?
It is delivered as an editable .docx download within about 60 seconds, with 12-month access. Free during our launch round — the first 50 documents cost nothing, one per person.