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  • iLawyer

    [THE ONLINE DOCUMENT BUILDER]

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Generate your own legal
Sale of Shares Agreement
document online now and sell your Shares properly.


35 Minutes to complete   
   Pay R699 online      Customised legal document emailed to you.

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Frequently Asked Questions

What Company Details do I need for this Sale of Shares Agreement?

You will need:

  • the name of the company with the share being sold;
  • the registration number of the Company; and,
  • the registered address (you can leave the registration number blank and fill it in manually later if you wish).

What Seller's Information do I need for this Sale of Shares Agreement?

You will need the details of the individual / entity that is selling the Shares in the Company.

  •  In the case of an individual, you will need their Full Name, Identity Number and Address.
  • In the case of an entity, you will need its Registered Name, Registration Number and Registered Address.

What Buyer's Information do I need for this Sale of Shares Agreement?

You will need the details of the individual / entity that is buying the Shares in the Company.

  •  In the case of an individual, you will need their Full Name, Identity Number and Address.
  • In the case of an entity, you will need its Registered Name, Registration Number and Registered Address.

What are Authorised Shares?

Every Company needs to initially make a number of Shares available to the current and future Shareholders, these are called Authorised Shares.

What are Issued Shares?

Issued shares is a term that refers to the number of Authorised Shares of a company that have been allocated and are subsequently held by Shareholders.  You will need to record the number of Issued Shares being sold when completing our Online Interview.

What happens to my suretyships / guarantees, after I sell my shares?

The Suretyship / Guarantee will remain valid and enforceable against the seller unless the third party that holds to suretyship / guarantee over the seller agrees to release them.

It can sometimes be easier to agree on the release of the suretyship / guarantee if the buyer offers to replace the seller.

iLawyer’s Sale of Shares Agreement provides an option to include a clause that requires the buyer to take the necessary steps to replace the seller for all suretyships /guarantees.

VERY IMPORTANT: If the third party refuses to release the seller (or replace the seller with the buyer), the suretyship / guarantee will still be enforceable against the seller, even with the inclusion of the above in the Sale of Shares Agreement.

However, with the inclusion of the clause, the seller would have a claim against the buyer for any claim against them (the seller) in terms of the suretyship / guarantee by the third party.

 

ANY QUESTIONS?  GET IN TOUCH.

 

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