Are there any exceptions to the requirement that all joint tenants must join in a transfer of the Ledgers Franchise Agreement?

According to Ledgers's 2025 Franchise Disclosure Document, if the Franchise Agreement is held by joint tenants or tenants in common, all individuals must participate in any transfer of ownership interest. However, there is an exception: any person who is deceased or under a legal disability is not required to join in the transfer. This means that if one of the joint tenants has passed away or is legally incapacitated, the remaining tenants can proceed with the transfer without their participation.

This provision protects the ability to transfer the Ledgers franchise even if one of the owners is unable to participate due to death or legal disability. Without this exception, the transfer could be significantly delayed or even prevented, which could negatively impact the business and the remaining owners.

For a prospective Ledgers franchisee, this clause provides some assurance that the business can continue to operate and be transferred even in unforeseen circumstances. It is important for franchisees to understand these conditions and to plan accordingly, especially when entering into a franchise agreement with multiple owners. Franchisees should consult with a legal professional to fully understand the implications of joint ownership and transfer requirements under the Ledgers Franchise Agreement.