Promissory Note for LLC Sale

Why Use Our Promissory Note for LLC Sale Template?

Protect Your Sale with Clear Terms

• Attorney-Drafted: Created by experienced business and transactional attorneys.

• Installment Payment Terms: Clearly lays out when and how the buyer will pay you.

• Legal Protection for Sellers: Includes default remedies, interest terms, and acceleration clauses.

Tailored for LLC Ownership Sales

• Designed for Ownership Transfers: Specifically built for selling membership interests in an LLC.

• Flexible Structure: Works for partial or full sales, with or without a formal Assignment Agreement.

• Works with Other Documents: Can be used alongside an Assignment of Membership Interest or Sale Agreement.

Easy to Customize and Use

• Editable in Word: Fill in names, payment amounts, due dates, and interest rate in minutes.

• Optional Collateral Clause: Add collateral or personal guarantees for higher-value transactions.

• Ready to Sign: Includes signature blocks and optional notarization.

How to Purchase and Use the Promissory Note

🛒 Step 1: Complete Your Purchase ($35 per Template)

Add the Promissory Note for LLC Sale to your cart and check out securely. You’ll receive the template instantly via email.

📥 Step 2: Download and Customize

Open in Microsoft Word and complete the buyer and seller information, repayment terms, and any optional clauses.

👥 Step 3: Review with Your Attorney and Buyer

Make sure the terms are understood by both parties and consistent with your other sale documents.

✍️ Step 4: Sign and Keep on File

Have both parties sign. Keep a copy of the signed note and share one with the buyer.

🎯 Ready to Finalize Your LLC Sale?

Protect your payment stream—get the Promissory Note for LLC Sale template today.

Key Features of the Promissory Note for LLC Sale Template

• Installment Payment Schedule: Set the repayment frequency and timeline.
• Interest Rate Clause: Define how much interest applies to the unpaid balance.
• Default and Acceleration Provisions: Protect yourself if the buyer misses payments.
• Optional Prepayment Terms: Allow or restrict early payoff.
• Execution Section: Includes signature blocks and optional notary field.

Benefits of Our Promissory Note Template

Peace of Mind for Sellers

• Defines Buyer Obligations: Eliminates confusion around how and when the buyer will pay.

• Provides Legal Backup: Enforceable terms in case of nonpayment.

• Helps Avoid Disputes: Clear expectations reduce risk of future conflict.

Simple, Secure, and Professional

• No Lawyer Required: Skip the high fees for custom drafting.

• Instant Download: Get started immediately after purchase.

• Reusable Format: Edit and reuse for future deals.

Quick Look: Promissory Note for LLC Sale

Frequently Asked Questions

Q: What is a Promissory Note in an LLC sale?

A: It’s a legal document where the buyer agrees to pay the seller over time for their ownership interest—similar to a loan agreement.

Q: Can I use this for a partial sale?

A: Yes, this template works for both full and partial ownership sales.

Q: What happens if the buyer doesn’t pay?

A: The agreement includes default and acceleration clauses that allow you to demand full payment or pursue legal remedies.

Q: Can I charge interest?

A: Absolutely. You can set the interest rate and determine how it accrues.

Q: Should this be notarized?

A: It’s not required in most cases but can add an extra layer of enforceability.

Why This Agreement Matters

• Protects Your Payments: Don’t hand over LLC interest without a clear, enforceable payment plan.

• Clarifies the Deal: Avoid misunderstandings and get the full terms in writing.

• Supports a Smooth Sale: Use alongside your Membership Assignment Agreement to complete the sale package.