Deed of retirement from partnership
Deed of retirement from partnership

The following Corporate guidance note provides comprehensive and up to date legal information covering:

  • Deed of retirement from partnership
  • Parties
  • Recitals:
  • Schedule 1The Continuing Partners
  • Schedule 2The Partnership Agreement
  • Schedule 3The Properties

DRAFTING FOR BREXIT: For the latest information on the impact of Brexit on the drafting, negotiation and enforceability of this Precedent, see Practice Note: Brexit—drafting boilerplate clauses.

This Deed of retirement is made on [insert day and month] 20[insert year]

Parties

  1. 1

    [Insert name of retiring partner] of [insert address] (Retiring Partner), and

  1. 2

    The persons whose names and addresses are set out in Schedule 1 (Continuing Partners).

Recitals:

    1. (A)

      The Partners have been carrying on business in partnership under the terms of the Partnership Agreement.

    2. (B)

      The Retiring Partner is to retire from the Partnership on the Retirement Date.

    3. (C)

      The provisions of this deed shall apply to the retirement of the Retiring Partner in place of any provisions of the Partnership Act 1890 and the Partnership Agreement that would otherwise apply to the retirement of the Retiring Partner.

The parties agree:

  1. 1

    Definitions and interpretation

    1. 1.1

      In this deed:

    2. Accountants

      1. means [insert name of Partnership's accountants] or such other firm of accountants as may be appointed to replace them in accordance with the provisions of the Partnership Agreement;

      Accounting Date

      1. means [insert Partnership accounting date];

      Accounting Period

      1. means a period commencing on the day following