Deed of retirement from partnership

Use this partnership retirement agreement to ensure no claims can be made against you and all matters are setlled according to the law

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About this document

This Deed of Retirement will officially relieve a partner from his responsibilities in a partnership. The document has been drawn to address a situation where the retiring partner leaves voluntarily – there are set procedures if the partner is forced to leave.

The document is fit for use in any kind of partnership business – service, trading or manufacturing irrespective of size of the business or industry type.

This document comes with a supplementary document in the form of a letter of resignation from the outgoing partner, which is helpful in retaining and saving the bonafide character of the arrangement and is useful as a safeguard to a potential post retirement dispute being raised in a court of law by the retiring partner.

Application and features

  • All usual basic provisions to protect the interests of the partnership business;
  • Complete with explanatory notes;
  • Real law in plain English.

Contents

  • Relinquishment by the retiring partner of any property owned by the partnership business;
  • New Shareholding pattern in partnership specified;
  • Liabilities of the departing and continuing partners clearly defined;
  • Confidentiality and Intellectual Property Rights;
  • Compensation for retiring partner;
  • Power of attorney and undertaking by retiring partner;
  • Partnership shares in the new arrangement;
  • Banking and accounts;
  • Compensation or no compensation as the case may be;
  • Dispute resolution;
  • Declarations of the retiring partner.
Draftsman

This document has been drawn by Rakesh Taneja, unconnected with Net Lawman. Rakesh Taneja will welcome your contact for further legal help. There may be a charge for Rakesh Taneja services.

IN-CPptn03 - Deed of retirement from partnership

 
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