What is the timeframe for the transfer process to begin after the death or incapacity of a Ledgers franchisee?
Ledgers Franchise · 2025 FDDAnswer from 2025 FDD Document
B. Transfer
We may terminate this Agreement unless, within sixty (60) days of your death or incapacity, your executor, personal representative or guardian:
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- seeks a transfer of your rights under this Agreement;
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- completes the transfer within six (6) months of your death or incapacity;
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- pays all monies owed to us, including the transfer fee, and
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- signs the then-current transfer and release form
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to Ledgers's 2025 Franchise Disclosure Document, in the event of the death or incapacity of a franchisee, the transfer process must begin within 60 days. Incapacity is defined as a condition that prevents the franchisee from performing their duties for 30 consecutive days.
Specifically, within 60 days of the franchisee's death or incapacity, their executor, personal representative, or guardian must seek a transfer of the franchisee's rights under the Franchise Agreement. Additionally, the transfer must be completed within six months of the death or incapacity. The estate must also pay all outstanding monies owed to Ledgers, including any applicable transfer fees, and sign the then-current transfer and release form.
If these steps are not initiated within the specified timeframe, Ledgers has the right to terminate the Franchise Agreement. This requirement ensures that the Ledgers franchise continues to operate under appropriate management and that all financial obligations are promptly addressed, protecting the interests of both the franchisor and the franchisee's estate.