This template is called a Deed of Retirement from Partnership.
It can be used when a Partner retires from a partnership with the consent of the other Partners who want to continue the partnership business.
This Deed is suitable when all Partners are individuals rather than companies or trusts.
It is suitable if the retiring partner’s share in the partnership is purchased by the continuing Partners.
If the partnership is to be dissolved instead of the partnership business continuing, then a Deed of Dissolution of Partnership should be used.
If there is more than one retiring Partner, each of them may use a separate Deed of Retirement.
This template is provided free of charge and on the terms and conditions set out on the LegalRocket website.
It has been drafted by an incorporated legal practice registered under the Legal Profession Uniform Law in Australia.