What document is used as a receipt as a proof of pay off a business purchase.

[chepe]

What is the name of your state (only U.S. law)? Florida

I bought a business 4 months ago. I gave 50% of the price in advance to the seller.
The other 50%, we agreed to pay monthly divided in 12 months.

After 4 months, I decided to pay the balance in one payment and complete de purchase of the business.


What kind of document should I used to have the seller to sign?
Is there an special document for this kind of transaction like a form?
Does that document should be notarized to make it legal or what kind of process should I do to make it legal?

Thanks,
Chepe.

 

[FlyingRon]

You should have had a contract for the sale before you started paying money. What you should do is execute a contract now indicating you've paid whatever amount of money in exchange for whatever the business was.

Notaries don't make business documents "legal." All a notary does is attest that the signature is who it says it is.

 

[quincy]

What is the name of your state (only U.S. law)? Florida

I bought a business 4 months ago. I gave 50% of the price in advance to the seller.
The other 50%, we agreed to pay monthly divided in 12 months.

After 4 months, I decided to pay the balance in one payment and complete de purchase of the business.


What kind of document should I used to have the seller to sign?
Is there an special document for this kind of transaction like a form?
Does that document should be notarized to make it legal or what kind of process should I do to make it legal?

Thanks,
Chepe.

Like FlyingRon, I question why you apparently do not have a purchase agreement that addresses the sale and transfer of the business.

Here are two links with information for you to read over, the first to the US Small Business Administration on what the seller should have done to complete the sale, and the second to the Florida Department of Revenue on what you need to do to complete the sale:

https://www.sba.gov/content/selling-your-business

http://dor.myflorida.com/dor/businesses/tax_clearance.html

Good luck with your new business.