Notice of Withdrawal from Partnership
Simply complete the Notice of Withdrawal from Partnership form below then click on View Results to see your completed contract.

Notice of Withdrawal from Partnership Features:

  • Used where a partner is voluntarily selling his partnership interest (leaving the partnership) and wishes to give notice to the partnership.
  • Used where a partner is involuntarily withdrawn from the partnership by notice from the partnership due to death of the partner, incapacity of the partner, disability of the partner, incompetence of the partner, breach of fiduciary duty by the partner, criminal conviction of the partner, operation of law against the partner, or legal judgment against the partner.

If you are looking for the partnership agreement itself, try our Partnership Agreement. If you are looking to transfer or assign your partnership interest, try our Assignment of Partnership Interest.

We regularly maintain this contract. Last Modified: May 2008

Notice of Withdrawal from Partnership Details
Check to Show Hints for Completing this Form

This software has the flexibility to let you quickly create the Notice of Withdrawal from Partnership document you want. It does this by providing many options with appropriate defaults.

If you are unsure of an answer, you can leave the answer blank and a blank line will be inserted in the place of your answer. You will be able to fill in that answer later (but before the contract is signed).
Governing Law
State:
Partnership Information
Partnership Name: (eg. XYZ Partnership)
Partnership Established: Click here to select a date from calendar
Partnership Purpose:
(eg. creating and managing a for-profit electronics manufacturing facility)
Withdrawing Partner Information
Partner Name:
Partner Address:
Type of Party:
Withdrawal

Type of Withdrawal Voluntary Withdrawal is where a partner is voluntarily withdrawing from the Partnership and wishes to give notice to the Partnership. An example would be selling one's Partnership interest to another party in order to retire.
Involuntary Withdrawal is where a partner is withdrawn from the Partnership without that partner's consent. Here the Partnership is giving notice to that partner. Examples of involuntary withdrawal are: death of partner, incapacity of partner, disability of partner, incompetence of partner, breach of fiduciary duty by partner, criminal conviction of partner, operation of law against partner, and legal judgment against partner.

Reason for Involuntary Withdrawal
"Operation of Law" means rights or duties that are applied against a party by the law such as an assignment for the benefit of creditors, a divorce, or a bankruptcy.
Reason:
Number of Remaining Partners:
Enter the name, address and other partner specific information for each Remaining Partner in the Partnership.
Remaining Partner 1
Partner Name:
Type of Party:
Remaining Partner 2
Partner Name:
Type of Party:
Remaining Partner 3
Partner Name:
Type of Party:
Remaining Partner 4
Partner Name:
Type of Party:
Remaining Partner 5
Partner Name:
Type of Party:
Remaining Partner 6
Partner Name:
Type of Party:
Remaining Partner 7
Partner Name:
Type of Party:
Remaining Partner 8
Partner Name:
Type of Party:
Remaining Partner 9
Partner Name:
Type of Party:
Remaining Partner 10
Partner Name:
Type of Party:
Withdrawal Date: Click here to select a date from calendar
Notice Period:(eg. 2 weeks, 90 days, 6 months, etc.)
Include a clause outlining the buyout period? Yes No
Buyout period:
The Partnership must provide a buyout offer within this period or the Partnership will be dissolved and liquidated. (eg. 2 weeks, 90 days, 6 months, etc.)
Additional Clauses: You can add additional terms and provisions that are unique to your situation.
First Additional Clause:
Second Additional Clause:
Third Additional Clause:
Fourth Additional Clause:
Fifth Additional Clause:
Sixth Additional Clause:
Seventh Additional Clause:
Signing Details
Are witnesses wanted to witness the signing of the agreement? Yes No
Is a guardian or agent signing for the withdrawing Partner? Yes No
Guardian Name: