19 June 2009
I have to change in Partnership deed in which there are three partners but now one partner has expired,Can anybody help me how to make chainging in partnership deed and how to draft it
19 June 2009
Dear Gautam Take Rs.100 Stamp paper, draft the Deed with the heading of "Amendmend Deed of Partnership" draft only changes and give the reference of original deed where there is no changes. take the signature of remaining two partner and two witnesses
19 July 2024
Certainly, I can guide you on how to make changes to the partnership deed due to the unfortunate circumstance of a partner's passing. Here’s a basic outline and a sample draft for amending the partnership deed:
### Steps to Amend the Partnership Deed
1. **Review Existing Partnership Deed:** - Obtain a copy of the current partnership deed that outlines the terms and conditions agreed upon by all partners. - Identify the specific changes needed due to the partner's passing.
2. **Consultation and Agreement:** - Discuss the proposed changes with the remaining partners and agree on how to proceed. - Consider consulting with a legal advisor or a solicitor specializing in partnership law to ensure compliance with relevant laws and regulations.
3. **Drafting the Amendment:** - Prepare a written amendment to the partnership deed outlining the changes. - Include details such as the name of the deceased partner, the effective date of their cessation from the partnership, and any adjustments to profit-sharing, capital contributions, etc., as a result of their passing. - Ensure clarity in language and mutual agreement among the remaining partners.
4. **Signing the Amendment:** - All remaining partners should sign the amended partnership deed to signify their acceptance and agreement to the changes.
5. **Registration and Formalities:** - Depending on local laws, the amended partnership deed may need to be registered with the relevant authorities (such as the Registrar of Firms). - Obtain any necessary approvals or endorsements to validate the changes legally.
### Sample Draft of Amendment to Partnership Deed
Here is a sample draft for amending the partnership deed:
---
**AMENDMENT TO PARTNERSHIP DEED**
This Amendment to the Partnership Deed is made on [Date], by and between the partners of [Name of Partnership Firm], a partnership firm constituted under the laws of [Country/State], having its principal place of business at [Address of Partnership Firm].
**RECITALS:**
1. The existing partnership deed of [Name of Partnership Firm], dated [Date of Original Partnership Deed], entered into by and between [Name of Partner 1], [Name of Partner 2], and [Name of Deceased Partner], as partners, hereby referred to as the "Partnership Deed".
2. Unfortunately, [Name of Deceased Partner] (hereinafter referred to as the "Deceased Partner") has passed away on [Date of Passing].
3. The remaining partners, [Name of Partner 1] and [Name of Partner 2], wish to amend the Partnership Deed to reflect the cessation of the Deceased Partner from the partnership.
**AMENDMENTS:**
1. Clause [Insert Clause Number] of the Partnership Deed is hereby amended to delete the name of the Deceased Partner, [Name of Deceased Partner], from the list of partners.
2. Effective from the date of [Date of Passing], the Deceased Partner shall cease to be a partner of the partnership firm.
3. All references to the Deceased Partner in the Partnership Deed, including but not limited to profit-sharing ratios, capital contributions, rights, and obligations, shall be deemed null and void.
**GENERAL PROVISIONS:**
1. Except as amended herein, all terms and provisions of the Partnership Deed shall remain in full force and effect.
2. This Amendment to the Partnership Deed shall be governed by and construed in accordance with the laws of [Country/State].
IN WITNESS WHEREOF, the undersigned partners have executed this Amendment to the Partnership Deed on the date first above written.
[Signature of Partner 1] [Signature of Partner 2]
[Name of Partner 1] [Name of Partner 2]
---
**Note:** This is a basic sample draft. Please customize it according to your specific partnership agreement and seek legal advice to ensure compliance with local laws and regulations.
### Final Steps
- **Execution:** Ensure all partners sign the amendment in the presence of witnesses, as required by law. - **Registration:** If necessary, register the amended partnership deed with the relevant authorities. - **Distribution:** Provide copies of the amended partnership deed to all partners for their records.
By following these steps and using the sample draft as a guide, you can effectively amend the partnership deed to reflect the changes due to the partner's passing.
CAclubindia
