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Form #1324Offer by sureties of debtor to pay creditors in consideration of cancellation of assignment for benefit of creditors
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Offer by sureties of
debtor to pay creditors in consideration of cancellation of assignment for
benefit of creditors.
To the Creditors of _________ and
_________, Joint and Separate:
We, the undersigned _________, _________, and
_________, represent and state to you that if it can be arranged by your
consent that the deed of trust made by A to B for the sale of A's property in
trust for his [her] creditors, can be set aside and canceled (the deed being
dated _________, and of record in the deed book _________, page _________, in
the _________ County clerk's office), we will pay to each creditor of A each
and every debt owing by A to each and every creditor.
This paper is prepared for the signatures of the
creditors and their acceptance of this arrangement as below; but it will not be
binding until all of the creditors have signed this agreement or have in
writing requested B to surrender the trust by reconveying the estate and assets
of A back to him [her].
We also agree that this arrangement does not affect in
any way the full force and validity of the securities or liens any of the
creditors may now legally hold.
We, the undersigned creditors of A accept the
proposition above, and request B, as assignee of A, to convey back to him [her]
the property named in the above deed, both real and personal and of every
nature and kind which may have come to him [her] by virtue of the trust. On
reconveyance, we absolve and release B and his [her] sureties from all
obligations of every nature and kind incident to and arising out of the trust.
All of the creditors in signing this paper do so under
agreement that the lawful securities held by them and any and all of them are
not released, modified, or affected.
[Date
and signatures]
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or any other commercial use is prohibited. This includes reposting forms from this
site to another site offering free legal or other document forms for download.
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form, and you agree to abide by these terms. It is highly recommended that you have
a licensed attorney review any legal documents for which you are searching in order
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Your use of this site constitutes your acceptance of our terms of use and your agreement
to hold this site, its officers, employees and any contributors to this site harmless
for any damage you might incur from your use of any submissions contained on this
site. If you do not agree to the above terms, please do not proceed.
These forms are provided to assist business owners and others in understanding important
points to consider in different transactions. They are offered with the understanding
that no legal advice, accounting, or other professional service is being offered
by these documents or on this website. Laws vary in the different states. Agreements
acceptable in one state may not be enforced the same way under the laws of another
state. Also, agreements should relate specifically to the particular facts of each
situation. Therefore, it is important to consult legal counsel whenever utilizing
these forms. The Forms are not a substitute for legal advice YourFreeLegalForms.com
is not engaged in recommending or referring members on the site or making claims
about the competence, character or qualifications of its participating members.
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Keywords: Offer,sureties,debtor,pay,creditors,consideration,cancellation,assignment,benefit,creditors
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