Asset Transfer Agreement Between Related Companies

It should be noted, however, that there is no specific wording regarding the asset agreement between partnerships in the Turkish trade code. Since the conclusion of a transfer contract is an indispensable element in the transfer of the assets of a company or a company itself with all assets and liabilities, and that this transaction is created randomly, the question of the transfer of capital is asked in accordance with the Turkish bond code. For transfers of assets and companies, Article 179 of the Turkish Obligations Act applies. Accordingly, “any person who takes over a business company with its assets and liabilities is responsible for the debtors and creditors of the business company, starting with the day the sale was announced in the newspapers; to the extent that the previous debtor (ceding) must continue to be jointly liable with the new debtor (taker); A simple asset purchase agreement is a contract between a buyer and a seller that defines the terms of the purchase and sale of assets of a company. Buying and selling a business requires the application of several laws. One of these most important provisions is the signing of a simple asset transfer agreement. The buyer and seller sign this contract for the following purposes: The transfer of assets is the transfer of assets or all rights to the asset and all liabilities on the side of the company, with a transfer contract between two parties, individuals or legal persons. Under Turkish law, asset agreements between partnerships are proposed under different laws within the framework of their own disciplines. Partnerships to implement an assessor agreement should act in accordance with the appropriate rules during the transaction. There are two ways to transfer a business to new owners: a share transfer or a capital transfer. Some key differences are the most important: in addition, the transfer of jobs is also ensured by the Social Security Act; Section 82 of the Act provides that the assignor and the purchaser are jointly responsible for the unpaid insurance premiums of the employees, as well as late fines and interest due. However, co-responsibility is not limited by a time requirement.

Both parties can be on the same side if a mediator exists between the buyer and the seller. You can find a mutually beneficial agreement by deciding to hire a lawyer. The Labour Act considers that it is necessary to determine all or part of the sale of a company with regard to the rights of workers and the debts of the assignor and the taker. Under Article 6, paragraph 1 of labour law, in the event of a partial or partial transfer of employment by a transaction, all employment contracts are awarded to the purchaser at the time of the transaction, for those who show up at the position or service/workplace subject to the transfer.