Document background
A Share Purchase Agreement Between Two Individuals is a crucial legal document used in the Philippines when one individual wishes to sell their shares in a company to another individual. This document is essential for privately held companies where shares are not traded on public markets. It must comply with the Revised Corporation Code of the Philippines, Securities Regulation Code, and relevant tax laws. The agreement typically includes detailed provisions on share transfer procedures, payment terms, warranties about share ownership and authority to sell, tax responsibilities, and completion requirements. It's particularly important for ensuring clear documentation of ownership transfer, protecting both parties' interests, and maintaining compliance with Philippine corporate and securities laws. The document should be notarized to provide additional legal certainty and facilitate recording in corporate books.
