Legal Question in Business Law in United Kingdom

Re: deed of ownership

Changes to the contract between the members of an LLP can be dealt with relatively informally as long as the change is written down in a clear way and signed by both parties.

In order to check that the agreement between you properly varies or excludes the default provisions implied, you should refer to the Limited Liability Partnership Regulations 2001 as a checklist of matters to deal with in your agreement.

If your partner wishes to cease to be a member completely then all he need do is give notice of retirement under the Regulations. However, as an LLP must have two members, you will then need to appoint a second member or alternatively apply to wind the LLP up.

If a member ceases to be a member then notice of that cessation must be given to the registrar of companies.

As far as we are aware there are no proforma agreements for sale by commercial organisations.

Like all things in life, pursuing the cheapest option to deal with this may be risky, and we would recommend instructing a solicitor who has good working experience of Company Law to deal with these changes on the LLP's behalf.

Re: deed of ownership

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I am not entirely certain of the document you require and at the moment our site is still under construction and only a few basic agreements are ready for posting. However my colleagues and I have a large library and we will certainly have what you require. Let me know and we will fix you up for a price which will make you laugh.

Andrew Dutton

[email protected]