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Partnership deed format

Agreement deeds 1289 views 2 replies

Can anyone please send the format of partnership deed after the death of the partner?

In my case other partner will contine as a partner and decased partner's legal heir which is his wife will be retire from  partnership

 

Replies (2)

As per the partnership deed between the partners of the firm, there should be a clause, that the firm is not dissolved by the death of a partner, and the deceased partners' heirs or legal representatives or their duly authorised agents shall have a right to join as partners of the firm.

If there is no such provision in the deed, the firm will be dissolved by the death of a partner.

Regarding format of deed, you just mention in recitals about the history of death and admission of new partner. Change name of the deceased partner to newly admitted partner. With a few modifications to the existing deed, you may write yourself. In case of difficulty consult any professional such as CA, advocate etc.

thanks a lot.


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