Deed of Dissolution of Partnership
The Deed of Dissolution of Partnership is a one-page official guidance template, but the supplied text does not identify the issuing department, an order number or an issue date. It records the mutual dissolution of a partnership between two parties, including their acceptance of the assessed assets and liabilities and their declaration that the partnership has no cash on hand or liabilities.
What the deed does
The Deed of Dissolution of Partnership provides a template for two partners who have mutually decided to end their business partnership for personal reasons. The partners must identify themselves, give the business name and place, state when the partnership began, and enter the date from which the dissolution takes effect.
The supplied text does not name a government department or other issuing authority. It also does not contain an order number or issue date. Although the template includes the year 2017 beside the blank effective date, it does not state that this is the publication or issue date.
Who it affects
The Deed of Dissolution of Partnership is relevant to the two people identified as the First Part and the Second Part. It is intended for partners who were carrying on a business together and have agreed by mutual consent to dissolve that partnership.
The template does not refer to land, buildings, title, ownership transfers, registration procedure or stamp duty. A property buyer or owner would therefore need to consider it only if a partnership connected with their transaction is being dissolved or if partnership assets or liabilities are relevant to that transaction.
Key provisions
The Deed of Dissolution of Partnership records that:
- The two parties had been carrying on a business in partnership at a stated place and under a stated business name.
- The partnership began from a date to be entered in the form.
- The partners decided to dissolve the partnership by mutual consent because of personal reasons.
- The partnership's assets and liabilities were assessed.
- Both parties were satisfied that the assessment was correct.
- The partners agreed that the partnership would be dissolved from the effective date entered in the deed.
- The partners declared that the partnership had no cash on hand and no liabilities.
- Both parties must sign the deed on the date stated at the beginning.
Information that must be completed
The Deed of Dissolution of Partnership contains blanks for the deed date, the identities of both parties, the place of business, the partnership name, the partnership commencement date and the dissolution effective date. The supplied text does not provide witness fields, filing instructions, registration requirements, fees or a method for handling any partnership property.
This summary is generated from the source document to help you find what is relevant. The PDF above is authoritative. For advice on your own property, use LandLens One or speak to a qualified professional.
Common questions
Does this deed end the partnership automatically?
The template records that both partners dissolve the partnership by mutual consent from the effective date entered in the deed. Both the First Part and the Second Part are expected to sign it.
What does the deed say about partnership debts?
It states that the assets and liabilities have been assessed and accepted by both parties. It also includes a declaration that there are no liabilities and no cash on hand in the partnership.
Does the template transfer partnership land or buildings?
No transfer of land, buildings or other property is described in the supplied text. The template only records the dissolution and statements about the partnership's assets, liabilities and cash.
Does the document specify a registration fee or stamp duty?
No. The supplied text does not state any registration procedure, fee or stamp duty.
