Stock Purchase Agreement Spousal Consent

For this reason, they cannot be declared null and void. Article 224, §1, 4, of the Belgian Civil Code refers only to additional guarantees that the seller would provide and which would guarantee the liability or obligations of third parties (for example. B joint and several liability between sellers in respect of the obligation to pay compensation where by which each seller provides more guarantees than his share; or the guarantee of payment of debts, which were created by the acquired enterprise). However, a buyer assisted by professional consultants often requires a married seller to give his or her spouse`s explicit consent to (the terms) of the proposed transaction. A prudent buyer will do so in order to prevent the insurance and guarantees provided by the seller in the share purchase agreement (or the associated compensation mechanism and the securities provided) from being invalidated by the spouse due to the protection afforded to spouses by the so-called primary marriage regime. It should be noted that this protection applies to all spouses, regardless of the matrimonial regime chosen, including the system of separation of property. Some Clerky products involving the issuance of shares may allow the spouse of the beneficiary of the shares to be included as a party in the document set. Generally, the spouse is associated for the purposes of the spouse`s licence portion of a share purchase agreement and the optional Form 83(b). Generally speaking, the main reason why the spouse signs the spouse`s consent to a share purchase agreement is to reduce the risk that a spouse (or, more likely, an ex-spouse) will try to assert an interest in the shares and intervene under the terms of their issuance, which can lead to difficulties for a company.

If the seller of the shares is a married natural person, the question arises whether he is able to negotiate and sign the transfer contract himself or whether he must inform his spouse of the proposed transaction and obtain the agreement of the spouse to obtain the legal purchase/sale of shares. . . .