Protecting yourself when buying "in Trust"
When a Buyer offers to buy “in Trust” for a company or wants the ability to allow a third party to actually complete the purchase and take title on Closing, the Buyer is essentially trying to “assign” the Agreement. In such a situation the Seller is left unprotected if Buyer #2 (the “assignee” from Buyer # 1) fails to Close. In order to protect the Seller, and to some extent Buyer #1 and Buyer #2 as well, it is most prudent to use the pre-printed OREA Assignment Form 145 whic