Purchase & Sale of Business

Purchase and Sale of a Business - Howard Nightingale Professional CorporationGetting It Right the First Time

Regardless of which business model you are purchasing, due diligence – getting it right to begin with – can potentially save a great deal of aggravation and money at some point in the future. Sometimes it’s a case of not even knowing the right questions to ask. We at Howard Nightingale, do:

To implement the PURCHASE of a business Howard Nightingale provides the following services:

  • Review the executed agreement of purchase and sale.
  • Request the statement of creditors under the Bulk Sales Act and tax clearance certificate under the Retail Sales Act.
  • Search for arrears of business taxes, corporation taxes and other taxes and/or rates constituting statutory liens.
  • Review the bill of sale.
  • Prepare any personal property security agreement.
  • Search under the Bill of Sale Act, Corporation Securities Registration Act, Bankruptcy Act, Personal Property Security Act, Bank Act and other applicable legislations.
  • Search for executions.

To implement the SALE of a business and assets, Howard Nightingale provides the following services:

  • Review the executed agreement of purchase and sale.
  • Prepare the bill of sale.
  • Prepare a statement of creditors under the Bulk Sales Act.
  • Obtain a tax clearance certificate under the Retail Sales Act.
  • Prepare a statement of adjustments.
  • Prepare insurance releases.
  • Collect and remit retail sales tax.
  • Prepare a statement as to payment of creditors (if required).
  • Prepare consents or waivers from creditors of the seller and prepare statement of affairs.
  • Attend and complete closing.
  • Report to client.
If you have any questions or concerns about purchasing or selling a business please contact Howard Nightingale.

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