Legal Question in Business Law in Texas

His shares are part of his estate and will pass under his will or the laws of intestate distribution of Texas or the state that was his residence at the time of the death. The buy sell agreement will remain operative and can be exercised by the holders of the right to purchase as to the shares that were legally owned by the deceased. if the shares were part of the community property of the deceased and spouse, the spouse must also be a party to the buy sell for it to be enforceable against the surviving spouse.

A review of the facts and buy sell agreement is required to provide firm advise here.

Darrel Behring