Deed of Partnership

Updated at:March 2010
 
FREE EXCERPT

THIS DEED of partnership made at ............ this .................... day of ...................... 20............

BETWEEN

A son of __________ residing at................................... hereinafter called the said A,

B son of _____________ residing at .............................. hereinafter called the said B,

C son of _________residing at ....................................... hereinafter called the said C,

D .son of _________ residing at ............................ hereinafter called the said D,

E son of _________ residing at ..................... hereinafter called the said E,

F son of _________residing at ...................... hereinafter called said F (the said 1 to 6 are hereinafter collectively referred to as the Continuing Partners),

G son of _________ residing at......................... hereinafter called the said G,

H son of _________residing at ....................... hereinafter called the said H,

I son of _________ residing at....................... hereinafter called the said I,

J son of _________ residing at ............................................... hereinafter called the said J,

K son of _________ residing at ................................. hereinafter called the said K and

L son of _________ residing at ...................... hereinafter called the said L (the said 7 to 12 are hereinafter referred to as the Incoming Partners).

WHEREAS the Continuing Partners carry on business of ___________ under the firm name and style of ___________, having their office at........................... with effect from _______________

AND WHEREAS the Continuing Partners have acquired an immovable property being a piece of land together with the structures standing thereon situate at _______________admeasuring ............... sq. metres or thereabouts (hereinafter referred to as the said property) and more particularly described in the Schedule hereunder by virtue of a deed of conveyance dated ............... registered with the Sub-Registrar of Assurances at........... under Sr. No. ............ on ................ and as such they are absolutely entitled to the said property and nobody else is entitled to the same.

AND WHEREAS the Continuing Partners have agreed to admit the Incoming Partners into the said partnership with effect from ................. and upon the terms and conditions hereinafter appearing:

NOW IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES HERETO AS FOLLOWS:

(1) The Continuing Partners declare and confirm that the title of the said property is clear, marketable and free from all encumbrances.

(2) The Continuing Partners do hereby further declare and confirm that the Incoming Partners have been admitted to the business of the said firm with effect from and inclusive of ......................20.......

(3) The business of the partnership shall be carried on by the parties hereto at ......................................................................

(4) The business of the partnership shall be of builders, developers and contractors in respect of the said property more...

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