The Buy-Sell Agreement (Cross Purchase) is a critical business succession planning tool in the Australian business context, designed to provide a clear framework for ownership transitions in multi-owner businesses. This document becomes essential when business owners want to ensure business continuity and maintain control over ownership transfers while complying with Australian corporate law requirements. The agreement specifies trigger events that activate purchase obligations, establishes valuation methodologies, and details funding mechanisms for share purchases. It's particularly valuable for protecting business interests, preventing unwanted third-party ownership, and ensuring smooth transitions during owner exits. The cross-purchase structure means remaining owners directly purchase shares from departing owners, rather than the company making the purchase, which has specific tax and legal implications under Australian law.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Genie AI's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
Upload your Doc
1. Parties: Identifies all business owners/shareholders who are parties to the agreement
2. Background: Explains the purpose of the agreement and current ownership structure
3. Definitions and Interpretation: Defines key terms and establishes interpretation principles
4. Agreement to Buy and Sell: Core obligation of owners to buy/sell shares upon trigger events
5. Trigger Events: Defines events requiring purchase/sale (death, disability, retirement, etc.)
6. Purchase Price and Valuation: Methodology for determining share value and purchase price
7. Payment Terms: Structure and timing of purchase payments
8. Transfer Procedure: Process for executing share transfers
9. Funding Mechanism: Sources of funding for purchases (insurance, cash, installments)
10. Representations and Warranties: Statements of fact by parties about their capacity and authority
11. Default and Remedies: Consequences of failing to comply with agreement terms
12. General Provisions: Standard clauses including notices, amendments, governing law
1. Tag-Along Rights: Used when wanting to protect minority shareholders by allowing them to join in sales to third parties
2. Drag-Along Rights: Include when majority shareholders need the right to force minority shareholders to join in a sale
3. Right of First Refusal: Optional additional protection giving existing owners first right to purchase shares before external sale
4. Disability Insurance Provisions: Include when disability insurance funds purchase obligations
5. Non-Competition Provisions: Add when restricting departing owners from competing
6. Spousal Consent: Include in jurisdictions where spousal rights may affect share transfers
7. Tax Provisions: Detailed tax treatment when complex tax implications exist
8. Dispute Resolution: Alternative dispute resolution procedures if preferred over court proceedings
1. Schedule A - Current Ownership Schedule: Details current ownership percentages and share numbers
2. Schedule B - Valuation Formula: Detailed methodology for business/share valuation
3. Schedule C - Insurance Policies: Details of life/disability insurance policies funding the agreement
4. Schedule D - Approved Valuation Firms: List of pre-approved business valuators
5. Appendix 1 - Share Transfer Form: Template form for executing share transfers
6. Appendix 2 - Purchase Notice: Template notice triggering purchase obligations
7. Appendix 3 - Spousal Consent Form: Template for obtaining spousal consent if required
Relevant legal definitions
Agreement
Business
Business Day
Business Hours
Buy-Sell Notice
Buyer
Company
Completion
Completion Date
Confidential Information
Consideration
Default Event
Defaulting Owner
Departing Owner
Disability
Effective Date
Encumbrance
Fair Market Value
Funding Source
GST
Insurance Policy
Insurance Proceeds
Insured Event
Law
Life Insurance
Notice
Offer Notice
Owner
Permanent Disability
Purchase Price
Purchaser
Qualifying Insurance Policy
Related Party
Remaining Owners
Representatives
Sale Shares
Seller
Share Certificate
Shares
Spouse
Stamp Duty
Surviving Owner
Transfer Forms
Trigger Event
Valuation Date
Valuation Method
Voluntary Transfer
Business
Business Day
Business Hours
Buy-Sell Notice
Buyer
Company
Completion
Completion Date
Confidential Information
Consideration
Default Event
Defaulting Owner
Departing Owner
Disability
Effective Date
Encumbrance
Fair Market Value
Funding Source
GST
Insurance Policy
Insurance Proceeds
Insured Event
Law
Life Insurance
Notice
Offer Notice
Owner
Permanent Disability
Purchase Price
Purchaser
Qualifying Insurance Policy
Related Party
Remaining Owners
Representatives
Sale Shares
Seller
Share Certificate
Shares
Spouse
Stamp Duty
Surviving Owner
Transfer Forms
Trigger Event
Valuation Date
Valuation Method
Voluntary Transfer
Clauses
Interpretation
Definitions
Binding Effect
Transfer Restrictions
Purchase Obligation
Trigger Events
Valuation
Purchase Price
Payment Terms
Insurance Funding
Share Transfer Procedure
Completion Requirements
Default and Remedies
Right of First Refusal
Tag-Along Rights
Drag-Along Rights
Non-Competition
Confidentiality
Representations and Warranties
Tax Matters
Stamp Duty
Notices
Assignment
Amendment
Severability
Entire Agreement
Governing Law
Dispute Resolution
Force Majeure
Costs and Expenses
Further Assurance
Time of Essence
Waiver
Counterparts
GST
Definitions
Binding Effect
Transfer Restrictions
Purchase Obligation
Trigger Events
Valuation
Purchase Price
Payment Terms
Insurance Funding
Share Transfer Procedure
Completion Requirements
Default and Remedies
Right of First Refusal
Tag-Along Rights
Drag-Along Rights
Non-Competition
Confidentiality
Representations and Warranties
Tax Matters
Stamp Duty
Notices
Assignment
Amendment
Severability
Entire Agreement
Governing Law
Dispute Resolution
Force Majeure
Costs and Expenses
Further Assurance
Time of Essence
Waiver
Counterparts
GST
Relevant Industries
Professional Services
Manufacturing
Retail
Technology
Healthcare
Construction
Hospitality
Agriculture
Financial Services
Real Estate
Mining
Transport and Logistics
Media and Communications
Family Business
Relevant Teams
Legal
Finance
Corporate Governance
Risk Management
Executive Leadership
Business Development
Tax Advisory
Compliance
Company Secretariat
Relevant Roles
Business Owner
Managing Director
CEO
Company Director
Chief Financial Officer
Corporate Lawyer
Business Succession Planner
Financial Advisor
Tax Consultant
Risk Manager
Company Secretary
Partnership Manager
Business Development Manager
Family Business Advisor
Find the exact document you need
Private Home Purchase Agreement
An Australian law-governed agreement for the sale and purchase of residential property between private parties, detailing all essential terms and conditions of the transaction.
Download
Land Selling Agreement Form
An Australian legal document establishing terms and conditions for real property sales, compliant with state and federal property laws.
Download
Realty Purchase Agreement
An Australian law-governed agreement documenting the legal transfer of real property from seller to buyer, including all essential terms and conditions of sale.
Download
Boat Purchase And Sale Agreement
An Australian law-governed agreement for the purchase and sale of marine vessels, ensuring compliant transfer of vessel ownership and protecting both parties' interests.
Download
Assignment Of Purchase And Sale Agreement Form
An Australian legal document that transfers a purchaser's rights and obligations under an existing property purchase agreement to a new buyer.
Download
Apartment Sale And Purchase Contract
An Australian law-governed contract for the sale and purchase of apartment properties, incorporating essential terms, conditions, and statutory requirements for strata title transfers.
Download
Buy Sell Contract Car
An Australian-compliant contract for the sale and purchase of motor vehicles, covering all essential transaction elements and jurisdictional requirements.
Download
Promissory Sale And Purchase Agreement
An Australian law-governed agreement documenting a sale transaction with promised future payments, including payment terms, security arrangements, and completion requirements.
Download
Conditional Purchase Agreement
An Australian law-governed agreement for property purchase subject to specific conditions, detailing terms between purchaser and vendor.
Download
Agreement For Sale Of Flat
An Australian legal contract for the sale and purchase of a flat/apartment, detailing terms, conditions, and obligations of both parties under Australian property law.
Download
Sell Agreement Form
An Australian-compliant agreement that documents the terms and conditions for the sale of goods or assets between parties, ensuring legal protection for both seller and buyer.
Download
Purchase And Sale Agreement For Wholesalers
An Australian law-governed agreement establishing terms and conditions for wholesale trading relationships between suppliers and business customers.
Download
Crude Oil Purchase Agreement
An Australian law-governed agreement for the sale and purchase of crude oil, covering commercial terms, specifications, and regulatory requirements.
Download
Contract To Buy And Sell
An Australian law-governed agreement that documents the terms and conditions for the sale and purchase of goods, property, or assets between parties.
Download
Buy Sell Agreement For Small Business
An Australian law-governed agreement for the sale and purchase of a small business, detailing transaction terms, assets transfer, and parties' obligations.
Download
Agreement To Sell Personal Property
An Australian law-governed agreement for the sale and transfer of personal property, ensuring legal compliance and protection for both seller and buyer.
Download
Simple Contract For Buying A House From Owner
An Australian law-compliant contract template for direct residential property sales between private owners and buyers.
Download
Contract For Selling A House Privately
An Australian legal contract for the private sale of residential property between vendor and purchaser, without real estate agent involvement.
Download
Residential Resale Condominium Property Purchase Contract
Australian legal contract for the sale and purchase of existing residential strata-titled properties, incorporating state-specific property laws and strata requirements.
Download
House Buying Agreement
An Australian legal agreement governing the sale and purchase of residential property, outlining terms, conditions, and obligations under Australian property law.
Download
Real Estate Intent To Purchase Form
An Australian legal document expressing a potential buyer's formal interest in purchasing a specific property and outlining proposed purchase terms.
Download
Formal Agreement For Sale And Purchase
An Australian law-governed agreement that documents and legally binds the terms and conditions for the sale and purchase of real property.
Download
Contract To Sell Condo
An Australian law-compliant agreement for the sale and purchase of a condominium unit, detailing terms, conditions, and strata requirements.
Download
Principal Sale And Purchase Agreement
An Australian law-governed agreement documenting the terms and conditions for the sale and purchase of a business, assets, or shares, including price, warranties, and completion mechanisms.
Download
Asset Purchase Agreement Goodwill
An Australian law-compliant agreement for the sale and purchase of business goodwill and associated intangible assets.
Download
Agency Agreement For Sale Of Residential Property
An Australian residential property sale agency agreement establishing the legal relationship between property owner and real estate agent, outlining sales authorization and terms.
Download
Purchase Agreement For Camper
An Australian law-governed agreement for the sale and purchase of a camper vehicle, including ownership transfer and warranty terms.
Download
Offer To Purchase And Sale Agreement
An Australian legal document that combines the property purchase offer and sale agreement into a single binding contract, compliant with Australian property law and regulations.
Download
Entity Buy Sell Agreement
An Australian legal agreement governing the transfer of business ownership interests between entity owners upon specified trigger events.
Download
Intent To Sell Agreement
An Australian legal document that formalizes a property owner's intention to sell to a specific buyer, setting out key terms and conditions for proceeding to a formal sale contract.
Download
As Is Home Purchase Agreement
An Australian legal agreement for the purchase of residential property in its current condition ('as is'), without seller warranties or guarantees.
Download
Agreement For Purchase Of Flat With Builder
An Australian legal agreement between builder/developer and purchaser for the sale and construction of a residential flat, incorporating building regulations and consumer protection requirements.
Download
Home Sale Agreement
An Australian legal agreement documenting the terms and conditions for the sale and purchase of residential property, compliant with state and federal property laws.
Download
Agreement To Sell Contract
An Australian law-governed contract that formalizes the sale of goods, assets, or property between parties, outlining terms, conditions, and obligations of the sale transaction.
Download
Addendum To Purchase Contract
An Australian-compliant legal document that modifies an existing purchase contract while maintaining the validity of unchanged terms.
Download
Offer Of Purchase And Sale
An Australian legal document that formalizes property purchase terms and conditions between vendor and purchaser, compliant with federal and state property laws.
Download
Commercial Purchase And Sale Agreement
An Australian law-governed agreement setting out terms and conditions for commercial sale and purchase of goods, assets, or businesses.
Download
Purchase Agreement For Land
An Australian legal agreement documenting the terms and conditions for the sale and purchase of real property, compliant with state-specific property laws.
Download
Contract For Sale Of Business Assets
An Australian legal agreement governing the sale and purchase of business assets, outlining terms, conditions, and transfer arrangements under Australian law.
Download
Provisional Agreement For Sale And Purchase
An Australian preliminary property sale agreement that establishes initial terms and conditions while allowing for due diligence and condition satisfaction before final contract.
Download
Genie’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; Genie’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)
.png)