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FORMAT / DRAFT ON RECONSTITUTION OF PARTNERSHIP DEED ON ACCOUNT OF DEATH OF PARTNER

DINESH TIBAREWALA

Dear Sir

I need a format / draft on reconstitution of partnership when out of 3 partner 1 partner died and firm continue to run the business after death of a partner.

Please forward the draft if you have any.

Reconstitution of partnership: procedures for continuing firm after partner's death and need for tailored drafting. Reconstitution of a partnership after the death of one partner requires amending or drafting a new partnership deed to reflect continuation by surviving partners, settlement or buy-out of the deceased partner's share, treatment of goodwill, allocation of profits and management authority, and to address creditor consent, registrations, and succession rights; tailored drafting and professional legal advice are recommended. (AI Summary)
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DR.MARIAPPAN GOVINDARAJAN on Dec 27, 2015

You may approach Advocate who is well versed in drafting for this purpose. The draft is based on the nature of partnerships etc,

Ganeshan Kalyani on Dec 27, 2015
I agree with Mariappan Sir.
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