In the event of my death or disability as a Crisp & Green franchisee, how long does my representative have to transfer the franchise?
Crisp_Green Franchise · 2024 FDDAnswer from 2024 FDD Document
- 13.05 Death or Disability of Franchisee.
Upon your death or permanent disability (if you are an individual), or the death or permanent disability of the Operating Partner or a Principal Owner, the executor, administrator or other personal representative of such person shall transfer his, her, or its interest in this Agreement or his, her, or its interest in you to a third party approved by us in accordance with all of the applicable provisions of Section 13 within a reasonable period of time, not to exceed nine (9) months from the date of death or permanent disability.
Source: Item 23 — RECEIPTS (FDD pages 66–252)
What This Means (2024 FDD)
According to the 2024 Crisp & Green Franchise Disclosure Document, in the event of your death or permanent disability as a franchisee, your executor, administrator, or other personal representative has a "reasonable period of time" to transfer your interest in the Franchise Agreement. However, this period cannot exceed nine months from the date of death or permanent disability.
This timeframe allows your representative to manage your affairs and find a suitable buyer for the franchise. The buyer must be approved by Crisp & Green, in accordance with the standard transfer provisions outlined in Section 13 of the franchise agreement. This ensures that any new franchisee meets Crisp & Green's standards and is capable of operating the business effectively.
It is important to note that the transfer is subject to Crisp & Green's approval, meaning the franchisor has the right to vet and approve the proposed transferee. This is a common practice in franchising to maintain brand consistency and operational standards across all locations. Franchisees should familiarize themselves with Section 13 of the franchise agreement to understand the specific requirements and procedures for transferring the franchise.