Fill and Sign the Partnership Interest Assignment PDF Form

ASSIGNMENT OF PARTNERSHIP INTEREST Assignor___________________________________ Assignee___________________________________ Address___________________________________ Address____________________________________ __________________________________________ __________________________________________ City/County/State/Zip City/County/State/Zip AGREEMENT MADE between ASSIGNOR and ASSIGNEE. Recitals: 1. Assignor is a partner in a firm known as _____________________________________________________, doing business in the area of __________________________. The partners are bound by a partnership agreement dated ______________________, herein referred to as the Partnership. 2. Assignor desires to assign his interest in the Partnership for a consideration. 3. Assignee desires to obtain the interest for consideration. In consideration of the mutual covenants contained herein, the parties agree as follows: 1. Assignor assigns all his right, title, and interests in the Partnership, being a ______________ per cent share of the business, to Assignee for $________________ payable as follows: 2. Assignor shall be relieved of any future liability for Partnership debts and shall no longer be entitled to any share of the Partnership profits or assets. 3. Assignee shall be entitled to all future shares of the Partnership profits or any distribution of assets, and shall assume the liability for a proportionate share of all future Partnership losses. IN WITNESS WHEREOF, the parties have executed this Agreement at ______________ o’clock [a.m.][p.m.] on this _____ day of _______________________________, 20___. __________________________________________ ______________________________________ Assignor Assignee And as the remaining partners in the Partnership, do hereby endorse the above assignment of Partnership interest by the departing partner. The Assignee shall be entitled to share in all future distributions of profits and assets and likewise be liable for all future Partnership losses. The undersigned release the Assignor from any additional liabilities herewith. Assignee shall be entitled to participate in the management and control of the Partnership business, as specified in the Partnership Agreement. Dated: ____________________________ __________________________________ ____________________________________ Partner Partner