Document background
A Partnership Sale Agreement is a crucial document used when transferring ownership interests in a partnership under Austrian law. This agreement is essential for documenting the terms and conditions of selling partnership shares, whether partial or complete, and must comply with both the Austrian Commercial Code (UGB) and Civil Code (ABGB). It's particularly relevant when partners wish to exit a business, retire, or transfer their interests to new partners. The document includes detailed provisions about the partnership interests being transferred, purchase price, payment terms, warranties, and various regulatory requirements specific to Austrian jurisdiction. It also addresses tax implications, ongoing liabilities, and any necessary third-party consents required under Austrian law.
