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Assignment Of Interest To Third Party
ASSIGNMENT OF INTEREST TO THIRD PARTY
Any partner relinquishing either partial or entire partnership interest to a third party shall do so knowing they will consequently be forfeiting all of the rights previously held as partner. All powers, rights, and duties shall be terminated as any partner who assigns interest in the partnership to a third party who is not a partner, whether the assignment consists of the partners total interest or only a partial interest, shall thereafter be considered as having withdrawn from the partnership, and the partners rights, duties, and powers as a partner shall be terminated as follows:
[Description of termination]
Signature and Title Dated
Signature and Title Dated
Signature and Title Dated