LLC Creation and Business Transfer Services in Cedar Rapids

Trusted Legal Guidance for Business Sales and Transfers

Transferring a business or closing on the sale of a business can be a complicated transaction. If you are about to engage in a transaction with a potential buyer, turn to Howes Law Firm 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.

Understanding Business Sales and Transfers 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 all money paid upfront.
• A gradual owner-financing sale, where the buyer(s) makes payments over a certain period of time, giving the seller graduated income.
• A lease agreement, or lease-purchase, that temporarily transfers ownership under the terms of its contract.
• A transfer to a family member, completed in segments to avoid gift taxes

A business transfer or sales agreement will dictate the terms, what is being transferred, and how the goods or services will be handed over. In the case of a gradual sale, the business seller may also mentor the buyer until the purchase is complete.

Impact of Business Structure on Ownership Transfer