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Notice of Withdrawal from Partnership

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Notice of Withdrawal from Partnership Powered By Docstoc
					Notice of Withdrawal from
Partnership
This notice can be used by a partner that intends to withdraw from a partnership. The
original partnership agreement must allow for voluntary withdrawal for this notice to be
effective. Customize the information of the parties, the partnership’s information, the
date of withdrawal, and more. In addition, the remaining partners must make a written
offer for the withdrawing partner’s equity upon receipt of this notice. This notice is ideal
for individuals that want to withdraw from a partnership.
      ______________________ [Instructions: Insert the Withdrawing Partner’s name]
     ______________________ [Instructions: Insert the Withdrawing Partner’s address]
     ______________________ [Instructions: Insert the Withdrawing Partner’s address]

                                               ______________________ [Instructions: Insert the date]

______________________ [Instructions: Insert the Partnership’s name]
______________________ [Instructions: Insert the Partnership’s address]
______________________ [Instructions: Insert the Partnership’s address]

         RE:      Notice of Intent to Withdraw from Partnership

Gentlepersons:

        This letter shall serve as formal notice that I intend to withdraw from
_______________________ [Instructions: Insert the Partnership’s name] (the “Partnership”).
Paragraph ___ [Instructions: Insert the paragraph number of the Partnership Agreement
that allows for withdrawal] of the Partnership Agreement entered into between the partners of
the Partnership on __________________ [Instructions: Insert the date of the Partnership
Agreement] (the “Partnership Agreement”), as amended, provides that any partner may
voluntarily withdraw from the Partnership and cease to be a partner, provided that such
withdrawing partner provides ___________ (___) [Instructions: Insert the number of days
notice required to withdraw from the Partnership] days prior written notice. Accordingly, by
this notice, I am withdrawing from the Partnership and shall cease being a partner of the
Partnership effective ___________________. [Instructions: Insert the effective date of
withdrawal]

       Pursuant to paragraph __ [Instructions: Insert the paragraph number of the
Partnership Agreement that requires the Partnership to make an offer for the
Withdrawing Partner’s equity] of the Partnership Agreement, I am formally requesting that the
Partnership (and/or any of the remaining partners) provide a written offer to purchase my equity
in the Partnership within ___________ (___) [Instructions: Insert the number of days
following this notice that the Partnership must provide an offer for the Withdrawing
Partner’s equity] days following the receipt of this notice.

                                                                 Very truly yours,




                                                                 __________ [Instructions: Insert name]




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DOCUMENT INFO
Description: This notice can be used by a partner that intends to withdraw from a partnership. The original partnership agreement must allow for voluntary withdrawal for this notice to be effective. Customize the information of the parties, the partnership’s information, the date of withdrawal, and more. In addition, the remaining partners must make a written offer for the withdrawing partner’s equity upon receipt of this notice. This notice is ideal for individuals that want to withdraw from a partnership.