What is being transferred in the Assignment related to the Beehive Homes franchise?
Beehive_Homes Franchise · 2025 FDDAnswer from 2025 FDD Document
| This Assignment and Consent to Assignment of Franchise to a | ||
|---|---|---|
| [Corporation/Partnership/Limited Liability Company], dated, 2025 | ||
| ("Assignment"), is by and among | "Assignor"); [Corporation/Partnership/LLC Name], a [corporation/partnership/limited liability company] ("Assignee"); and those | BEE HIVE HOMES, INC., a Utah corporation ("Bee Hive Homes"); and (collectively, the |
| [shareholders/partners/members] | of Assignee (individually ["Shareholder"/"Partner"/"Member"] and collectively ["Shareholders"/"Partners"/"Members"]) listed on Exhibit A attached hereto and | |
| incorporated herein by reference. | Recitals | |
| (the "Franchise"). | A. Bee Hive Homes or its predecessor in interest issued to Assignor or its predecessor(s) in interest a Franchise Agreement dated (the "Franchise Agreement"), for the Bee Hive Homes Franchise located at | |
| Assignee. | B. Assignor requests Bee Hive Homes' consent to transfer the rights in the Franchise to | |
| Homes' consent to this Assignment is required under the terms of the Franchise Agreement. Agreement | C. Assignor, Assignee, and [Shareholders/Partners/Members] acknowledge that Bee Hive | |
| as follows: | The parties, intending to be legally bound and for good and valuable consideration, agree 1. The effective date of this Assignment is ("Effective Date"). | |
| Agreement and this Assignment. | 2. Bee Hive Homes consents to this Assignment subject to the provisions of the Franchise | |
| Assignor in the Franchise to Assignee, subject to the provisions of the Franchise Agreement. | 3. On the Effective Date, Assignor assigns and transfers all the right, title, and interest of |
Source: Item 23 — RECEIPTS (FDD pages 34–123)
What This Means (2025 FDD)
According to the 2025 Beehive Homes Franchise Disclosure Document, an assignment involves the transfer of the assignor's rights in the franchise to the assignee, as outlined in the franchise agreement. This transfer is subject to specific provisions within the franchise agreement and requires Beehive Homes' consent.
Specifically, the assignor is transferring all right, title, and interest in the franchise to the assignee. However, the assignor isn't fully released from their obligations. The assignor continues to be bound by the provisions of the Franchise Agreement and remains liable for any breaches, including monetary obligations and required actions. This means that after the assignment, both the assignor and assignee are jointly and severally responsible as franchisees.
Furthermore, any future transfers or vesting of equity interests of the assignee are subject to the assignment terms. Beehive Homes has not reviewed trust documents of any shareholder, partner, or member's trust, so the assignment does not constitute approval of those documents. If conflicts arise between those documents and the assignment or Beehive Homes' ownership policies, the provisions of the assignment will take precedence.