TRANSFERRING OWNERSHIP OF A BUSINESS
When you go to the closing the ownership of the business is actually transferred to the buyer. Each state has its own methods to assist and protect the buyer, seller and broker when transferring the business between buyer and seller. You can use your own attorney and pay him yourself or you can use some type of trust officer like the Escrow Agent and split the price with the buyer. This trust officer is known by different names in different states. For this purpose we will use the name Escrow Agent to describe this trust officer. Escrow Agents are specialists in the field of business transfers and perform their services at competitive rates. Some buyers and sellers choose to have their own attorneys review the details of the transaction. We encourage you to consult your attorney if you feel more secure by doing so.
ABOUT THE ESCROW AGENT:
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