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How can a Buyer be assured they will not be responsible for a Seller’s past debt?

April 26, 2017assured buyer debt past responsible seller

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How can a Buyer be assured they will not be responsible for a Seller’s past debt?

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The process of a formal escrow will assure that the business transfer complies will all requirements of the Bulk Sale Codes. By complying with the code the Buyer is alleviating the issue of ‘successor liability’ to the Sellers creditors.