Document background
A Sale of Partnership Agreement is a critical document used when one or more partners wish to sell their interest in a partnership to new or existing partners. This agreement, governed by Irish law, is essential for structuring and documenting the transfer of partnership interests while ensuring compliance with the Partnership Act 1890 and other relevant Irish legislation. The document covers crucial elements including purchase price determination, asset and liability allocation, warranties and indemnities, tax considerations, and post-completion obligations. It's particularly important for professional services firms, family businesses, and other partnership structures where ownership changes need to be carefully documented and executed. The agreement helps prevent future disputes by clearly defining the terms of the transfer and the ongoing obligations of all parties involved.
