factual

What are the timeframes for initiating and completing the transfer process of a Ledgers franchise upon death or incapacity?

Ledgers Franchise · 2025 FDD

Answer 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:

    1. seeks a transfer of your rights under this Agreement;
    1. completes the transfer within six (6) months of your death or incapacity;
    1. pays all monies owed to us, including the transfer fee, and
    1. signs the then-current transfer and release form

Source: Item 22 — CONTRACTS (FDD page 46)

What This Means (2025 FDD)

According to Ledgers' 2025 Franchise Disclosure Document, in the event of death or incapacity, the executor, personal representative, or guardian has specific timeframes to adhere to in order to transfer the franchise rights. Incapacity is defined as a condition that prevents the franchisee from carrying out their duties for 30 consecutive days.

Within 60 days of the franchisee's death or incapacity, the executor, personal representative, or guardian must seek a transfer of the franchise rights. The transfer must be completed within six months of the death or incapacity. Additionally, all monies owed to Ledgers, including the transfer fee, must be paid, and the then-current transfer and release form must be signed.

The transferee must meet certain requirements, including fulfilling the standard transferee criteria, completing initial training, and entering into a new Franchise Agreement on the current form. Failure to begin the transfer process within 60 days or complete it within six months may result in Ledgers terminating the Franchise Agreement.

Disclaimer: This information is extracted from the 2025 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.