Deed of retirement from partnership

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Document overview

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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  • Length:7 pages (2313 words)
  • Available in:
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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.
Sample deed of retirement from partnershipFront cover

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