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ASSUMPTION OF PERSONAL DEBT BY NEW MEMBER

 

As consideration for the interest of ________________________________________

________________________________________ (Name and Address) in the assets of ______________________________________ (Name of LLC), hereinafter the LLC, the firm agrees to pay _________ percent (___%) of the personal indebtedness incurred by ______________________________________ (Name) in the purchase of property for and in conducting the business of the LLC.

_______________________________________ ____________________

Signature and Title Date

_______________________________________ ____________________

Signature and Title Date

_______________________________________ ____________________

Signature and Title Date

 

 

Warning:

These forms are provided AS IS. They may not be any good. Even if they are good in one jurisdiction, they may not work in another. And the facts of your situation may make these forms inappropriate for you. They are for informational purposes only, and you should consult an attorney before using them.

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