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Notice of Retirement from Partnership

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In some cases, when a partner retires, the entire partnership is dissolved. In particular, if the partnership only involved two partners, and one of those partners ("the First Partner") retires, then the partnership will be unable to continue. The other partner ("the Second Partner") may however choose to take over the running of the business alone (not in partnership). In this case the partnership may be dissolved, and business assets may be transferred to the Second Partner. In addition, some partnership agreements state that if a partner retires from the partnership (even if the partnership involved more than two partners), then the partnership will be dissolved. Alternatively, in some cases, (provided that the partnership involved more than two partners), if one partner retires, then the other partners may keep operating the partnership. If the partnership is going to be dissolved, select "Partnership will be dissolved". If the partnership is not going to be dissolved, select "Partnership will continue without the retired partner".

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NOTICE OF DISSOLUTION OF PARTNERSHIP

Partnership Act 1892 (NSW)


Take notice that as and from ________, the partnership of the following partners ("the Partnership") is dissolved:

(1) ________, of the following address:

________

(2) ________, of the following address:

________

________ has retired from the Partnership.

The Partnership traded as ________.



This notice is dated ________.



_____________________________

________

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NOTICE OF DISSOLUTION OF PARTNERSHIP

Partnership Act 1892 (NSW)


Take notice that as and from ________, the partnership of the following partners ("the Partnership") is dissolved:

(1) ________, of the following address:

________

(2) ________, of the following address:

________

________ has retired from the Partnership.

The Partnership traded as ________.



This notice is dated ________.



_____________________________

________