Free Letter of Intent Template
Outline the main terms of a deal before the lawyers draft a definitive agreement. A letter of intent signals serious intent, frames the negotiation, and can be binding or non-binding depending on how you mark it. Use it for asset purchases, leases, partnerships, and joint ventures.
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LETTER OF INTENT
Dear ________________, This Letter of Intent sets out the general terms under which ________________ proposes to proceed with ________________. Its purpose is to outline our mutual understanding and to serve as a basis for negotiating a definitive agreement.
The principal terms proposed are as follows: ________________. The proposed consideration is ________________, with an anticipated closing or effective date of ________________.
This letter is intended to be ________________, except for any provisions that are expressly stated to be binding, and it does not create a definitive obligation on either party until a formal written agreement is signed. This proposal will remain open until ________________. If these terms are acceptable as a basis for moving forward, please indicate your agreement by signing below.
This is a general template and not legal advice. The enforceability of a letter of intent varies by state and by how it is worded. Review your state's requirements or have an attorney review this letter before you use it.
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Questions
Are these documents legally valid?+
These are professionally structured templates using standard clause language. Whether a completed document is legally binding depends on your state's requirements, proper signing (and notarization or witnesses where required), and your specific situation. For anything high-stakes, have an attorney review it. Nothing here is legal advice.
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Will this hold up if it needs to be signed or notarized?+
The template includes signature lines. Some documents need witnesses or a notary to be enforceable in your state. Check your state's requirements before signing, and use a notary where one is required.