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Legal Formats

Format of Transfer of Share in Partnership Deed

THIS DEED OF TRANSFER OF SHARE OF PARTNERSHIP PARTNERSHIP IS

          EXECUTED AT……….  ON THIS……………DAY OF —————-

                                                BETWEEN

………. PAN NUMBER ………..  son / wife  / daughter of    ………. residing at ……………..by faith…………… , by Occupation …………. , by Nationality………………., Herein after referred to and called as the “TRANSFERRING PARTNER ”

                                                        AND

………. PAN NUMBER ………..  son / wife  / daughter of    ………. residing at ……………..by faith…………… , by Occupation …………. , by Nationality………………., Herein after referred to and called as the “TRANSFEREE PARTNER

WHEREAS the TRANSFERRER and remaining Partners under a deed of partnership, dated ____________, were and are till date partners in the business known as _________, run on and from ____________.

AND WHEREAS the Transferer is a partner and all machinery, tools and finances, including the premises in which the firm and factory was housed belonged to and had been provided to the partnership by the said Transferer according to his share of —%; 

AND WHEREAS the Transferer is desirous of retiring from the said business/ transfer some of his share and the Transferee keen to purchase the share of the Transferer.

NOW, THEREFORE, THIS DEED WITNESSES as under: 

  1. That the Transferer and the Transferee have together valued the assets and liabilities, book debts, credits, stocks, outstandings, goodwill and the market value of the premises in which the business and factory is housed and both are agreed that the share of the Transferer in the said partnership is of the value of Rs ____ as detailed below: 

    Transferer’s share in the goodwill Rs ______ 

    Transferer’s share in the remaining assets after taking 

    into account all liabilities Rs ______ 

    Value of the building and premises Rs ______

    Total: Rs _____ 
  2. That by this deed of transfer of share of partnership, all book debts and credits, whether due from the partnership or by the partnership shall on and from the date hereof be paid or realisable by the Transferer, who assumes full responsibility and acquires full rights thereto as per his share. The Transferer shall not have to pay nor have the right to realise any sums of money due from or tothe partnership for the transferred share. 
  3.  That in consideration of this deed, the Transferee has this day paid to the Transferer the sum of Rs ____________, which sum the Transferer hereby acknowledges as having received.
  4. That the Transferer shall at the cost of the Transferee execute and register this deed pf transfer of share of Partnership for the share of property sold, including the building and premises occupied by the business and factory, more specifically described and detailed in the Schedule hereto and thereafter the Transferee shall acquire full rights of ownership of the purchased share over the said property hereby agreed to be sold. 
  5.  That the Transferee shall be liable to pay all taxes in and upon the said building and premises and to maintain the same and the machinery and tools in good and proper condition from the day of execution and registration of this deed. 
  6. That it is further agreed and understood that the expressions, ‘‘the Transferer’’ and ‘‘the Transferee’’ herein used, unless repugnant to the context shall include the heirs, successors and assigns of the parties. 

IN WITNESS whereof the said __________., the Transferer and the said __________, the Transferee, have hereunto signed at __________ the day and the year first above-written. 

………………………………………………………………

SIGNATURE OF TRANSFERER

………………………………………………………………

SIGNATURE OF TRANSFEREE


In the presence of:



WITNESS :

1.

2.



_____________________________

Witness Name

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