Free Sample Offer to Purchase Partnership Interest Template
Offers to Purchase Partnership Interests are used when one partner wants to buy the interests of another partner. It sets out the name and address of the business, purchase price for the partner's interests and the closing date of the purchase transaction.
Disclaimer:This was not drafted by an attorney & should not be used as a legal document.
Offer to Purchase Partnership Interest
I, __________________, (“Buyer”) a partner, have made an Offer to Purchase another partnership interest owned by _________________ (“Seller”). Buyer offers to buy ____ (Percentage, units, or other suitable measurement) of Seller's partnership interest ("Partnership Interest") in the partnership (the "Partnership") carrying on the business of Partnership from the premises of Partnership under the name Partnership Name, upon the following terms and conditions:
1. The purchase price for the Partnership Interest will be Purchase Price of Partnership Interest, $________, which will be payable by cash or by certified check on the Closing Date, or by an installment payout plan. The Buyer will also assume all liabilities of the Partnership on the Closing Date.
2. Closing Date. Closing State shall be on _________________.
3. After acceptance of this Offer, the business of the Partnership shall be carried on in the normal course.
4. This Offer shall be irrevocable by the Buyer until 5:00 PM on ________ (Date) until which date and time offer will be open for acceptance.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.