Official Michigan Buy-Sell Agreement Form | Step-by-Step Guide
Plan for ownership transfer in a business
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BUY-SELL AGREEMENT State of Michigan This Buy-Sell Agreement is entered into on [DATE] between: BUSINESS: [BUSINESS NAME] Type: [ ] Corporation [ ] LLC [ ] Partnership State: Michigan (MI) OWNERS: Owner 1: [NAME] — Ownership: [PERCENTAGE]% Owner 2: [NAME] — Ownership: [PERCENTAGE]% 1. TRIGGERING EVENTS: [ ] Death of an owner [ ] Disability of an owner [ ] Retirement [ ] Voluntary withdrawal [ ] Divorce [ ] Bankruptcy 2. VALUATION METHOD: [ ] Fixed price: $[AMOUNT] (reviewed annually) [ ] Formula-based: [DESCRIBE] [ ] Independent appraisal 3. PAYMENT TERMS: [ ] Lump sum within [DAYS] days [ ] Installments over [MONTHS] months at [RATE]% interest 4. FUNDING: [ ] Life insurance [ ] Company reserves [ ] Promissory note 5. RIGHT OF FIRST REFUSAL: Remaining owners have [DAYS] days to match any outside offer. This agreement is governed by Michigan law (MI Statutes). OWNER 1: _____________________ DATE: _____ OWNER 2: _____________________ DATE: _____
Where to File Your Buy-Sell Agreement in Michigan
Visit your local County Clerk office to file or notarize your Buy-Sell Agreement.
Wayne County Clerk
Detroit
2 Woodward Ave, Detroit, MI 48226
Kent County Clerk
Grand Rapids
300 Monroe Ave NW, Grand Rapids, MI 49503
Ingham County Clerk
Lansing
341 S Jefferson St, Mason, MI 48854
Buy-Sell Agreement Costs in Michigan
Estimated fees and processing times
| Fee Type | Cost | Notes |
|---|---|---|
| Notary Fee | $5-$15 (if required) | Michigan standard rate: $10 |
| Filing Fee | Varies by state | State registration (if applicable) |
| Processing Time | 1-3 business days | Typical turnaround in Michigan |
| Sales Tax | 6% | Michigan base rate (local taxes may apply) |
| Witness Requirement | 1 witness | Single witness sufficient |
| Our Template | FREE | Download instantly, no cost |
FAQ: Buy-Sell Agreement in Michigan
Is a Buy-Sell Agreement required in Michigan?
Yes, in Michigan, a Buy-Sell Agreement is required for most transactions of this type. Under Michigan State Code, the document must include all parties' information, be signed, and witnessed by at least one individual. Failure to use a proper Buy-Sell Agreement may result in legal complications.
Does a Buy-Sell Agreement need to be notarized in Michigan?
Notarization requirements in Michigan (MI) vary by transaction type. Notary fees in the state typically range from $10. While not always mandatory, notarization adds an extra layer of legal protection and is recommended for high-value transactions.
What are the tax implications of a Buy-Sell Agreement in Michigan?
Michigan has a base sales tax rate of 6%. Depending on the type of transaction documented in your Buy-Sell Agreement, additional local taxes may apply. Consult with a Michigan tax professional for specific guidance on your situation.
Michael Chen, Esq.
Real Estate Law Consultant
Bar Certified, Real Estate Expert
Expert in property transactions and real estate documentation
This Buy-Sell Agreement template for Michigan has been reviewed for accuracy and legal compliance.
Last reviewed: March 2026
Michigan Buy-Sell Agreement Requirements
Review the following requirements to ensure your Buy-Sell Agreement is legally valid in Michigan.
Michigan Notarization
While notarization may not be required in Michigan, it is recommended. Fees range from $10.
Before You Sign
Review all information carefully. In Michigan, a 6% sales tax may apply.
Legal Protection
Keep copies of all signed documents. Michigan law requires all parties to receive copies of executed documents.
Michigan Filing Deadlines
Check Michigan deadlines for filing or recording this document with the appropriate county clerk's office.
Michigan Buy-Sell Agreement Legal Guide
Under Michigan jurisdiction, this form meets all statutory requirements and provides comprehensive legal protection for your transaction.
Michigan law (Michigan State Code) governs this Buy-Sell Agreement. Key financial considerations include a 6% sales tax rate and notary fees of $10. The document requires 1 witness and remains valid indefinite.
Ensure your transaction is legally sound in Michigan with this expertly crafted, state-compliant template.
Completing Your Buy-Sell Agreement
The process in Michigan is straightforward but detail-oriented. Begin with the header information, proceed through each section methodically, and ensure all MI-required fields are completed. Michigan courts take document completeness seriously — missing information can delay or invalidate your filing.
Expert Recommendations
Legal professionals in Michigan recommend:
- Always use a state-specific template compliant with MI statutes
- Have documents reviewed before signing high-value agreements
- File copies with the appropriate Michigan government office when required
- Update your documents annually to reflect any changes in MI law
How Michigan Courts View This Document
Michigan courts apply MI statutory standards when evaluating a Buy-Sell Agreement. Judges look for: clear language, proper identification of parties, lawful purpose, and correct execution formalities. Meeting these standards ensures your document will be upheld if ever challenged.
MI Compliance Checklist
Before finalizing your Buy-Sell Agreement, verify that it meets Michigan's legal standards:
- Full legal names and addresses of all parties
- Clear description of the subject matter
- Consideration or purpose stated explicitly
- Dated and signed by all required parties
- Notarized if mandated by MI statute
Legal professionals in Michigan recommend:
- Always use a state-specific template compliant with MI statutes
- Have documents reviewed before signing high-value agreements
- File copies with the appropriate Michigan government office when required
- Update your documents annually to reflect any changes in MI law
How Michigan Courts View This Document
Michigan courts apply MI statutory standards when evaluating a Buy-Sell Agreement. Judges look for: clear language, proper identification of parties, lawful purpose, and correct execution formalities. Meeting these standards ensures your document will be upheld if ever challenged.
MI Compliance Checklist
Before finalizing your Buy-Sell Agreement, verify that it meets Michigan's legal standards:
- Full legal names and addresses of all parties
- Clear description of the subject matter
- Consideration or purpose stated explicitly
- Dated and signed by all required parties
- Notarized if mandated by MI statute
Before finalizing your Buy-Sell Agreement, verify that it meets Michigan's legal standards:
- Full legal names and addresses of all parties
- Clear description of the subject matter
- Consideration or purpose stated explicitly
- Dated and signed by all required parties
- Notarized if mandated by MI statute
Other Forms in Michigan
Buy-Sell Agreement in Neighboring States
Document Information
- Document
- Buy-Sell Agreement
- State
- Michigan (MI)
- Category
- Business
- Format
- PDF / Word / Print
- Cost
- 100% Free
- Sales Tax
- 6%
- Notary Fee
- $10
Michigan Legal Requirements
Governing Statute:
State Law
- ✓Consult with a licensed attorney for specific requirements
Legal Disclaimer
This template is for informational purposes only and does not constitute legal advice. Laws in Michigan may change. Consult a licensed attorney for advice specific to your situation.