Commentary

I6.224 Assignment of a partnership share

IHT, trusts and estates

I6.224 Assignment of a partnership share

I6.224 Assignment of a partnership share

A partner cannot, without the express consent of all his co-partners, transfer his partnership share to another and confer on that other all the rights of a partner1.

He may however (subject to any express contrary agreement) assign, either absolutely or by way of mortgage, his share both in the partnership's assets and in its profits2. His assignee will not be entitled to take part in the management of the partnership business, or to exercise any of the other functions of a partner, unless the other partners agree to him being a partner in

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial