51Ƶ

Sale Of Partnership Interest Agreement for Australia

Sale Of Partnership Interest Agreement Template for Australia

This document governs the sale and transfer of a partnership interest in an Australian partnership, structured in accordance with Australian partnership law and relevant state/territory legislation. It details the terms and conditions of the transfer, including purchase price, payment terms, warranties, and both pre- and post-completion obligations. The agreement ensures compliance with Australian tax laws, including GST requirements, and addresses key aspects such as asset transfer, liability allocation, and ongoing partnership arrangements. It incorporates necessary provisions for partnership consent, regulatory compliance, and dispute resolution under Australian jurisdiction.

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Get template free

Your data doesn't train Genie's AI

You keep IP ownership of your docs

4.6 / 5
4.6 / 5
4.8 / 5

What is a Sale Of Partnership Interest Agreement?

The Sale Of Partnership Interest Agreement is a crucial document used when a partner wishes to sell their interest in an Australian partnership to either an existing partner or a new incoming partner. This comprehensive agreement is essential for documenting the terms of the transfer, protecting all parties' interests, and ensuring compliance with Australian partnership law, tax regulations, and relevant state/territory legislation. It typically includes detailed provisions about the partnership interest being sold, purchase price, payment terms, warranties, representations, and both parties' obligations. The document is particularly important for maintaining clear records of ownership changes, managing liability transitions, and establishing post-sale obligations. It should be customized based on the specific partnership structure, industry requirements, and state/territory jurisdiction while ensuring all necessary consents and regulatory requirements are met.

What sections should be included in a Sale Of Partnership Interest Agreement?

1. Parties: Identifies the seller, purchaser, and other relevant parties including the partnership entity and remaining partners

2. Background: Sets out the context of the agreement, including details of the existing partnership and the partner's interest being sold

3. Definitions and Interpretation: Defines key terms used throughout the agreement and establishes interpretation principles

4. Sale and Purchase: Core terms of the sale including the partnership interest being sold and purchase price

5. Purchase Price and Payment: Details of the purchase price, payment terms, and any adjustments

6. Completion: Specifies the completion date, completion requirements, and delivery obligations

7. Seller's Warranties: Warranties regarding the partnership interest, authority to sell, and partnership affairs

8. Purchaser's Warranties: Warranties regarding authority to purchase and financial capacity

9. Partnership Consent: Confirmation of partnership and other partners' consent to the transfer

10. Pre-Completion Obligations: Obligations of parties between signing and completion

11. Post-Completion Obligations: Ongoing obligations after completion, including handover requirements

12. Confidentiality: Obligations regarding confidential information and announcements

13. Restraint of Trade: Restrictions on seller's future business activities

14. GST: GST treatment of the sale and associated obligations

15. General Provisions: Standard boilerplate clauses including notices, governing law, and dispute resolution

What sections are optional to include in a Sale Of Partnership Interest Agreement?

1. Third Party Consents: Required when the transfer needs specific third-party approvals or consents

2. Intellectual Property: Needed when specific IP rights are associated with the partnership interest

3. Employee Matters: Include when the sale affects employment arrangements or responsibilities

4. Earn-out Provisions: Used when part of the purchase price is contingent on future performance

5. Security for Performance: Include when security is required for deferred payments or performance obligations

6. Partnership Premises: Required when there are specific premises-related issues to address

7. Transitional Services: Include when the seller will provide transition support post-completion

8. Outstanding Loans: Needed when addressing partner loans or external financing

9. Tax Indemnities: Include when specific tax risks need to be allocated between parties

What schedules should be included in a Sale Of Partnership Interest Agreement?

1. Schedule 1 - Partnership Interest Details: Detailed description of the partnership interest being sold

2. Schedule 2 - Purchase Price Calculation: Breakdown of purchase price components and adjustments

3. Schedule 3 - Completion Requirements: Detailed list of documents and actions required at completion

4. Schedule 4 - Partnership Assets: List of partnership assets and their treatment

5. Schedule 5 - Existing Agreements: List of material contracts and agreements affecting the partnership

6. Schedule 6 - Outstanding Liabilities: Details of partnership liabilities and their allocation

7. Appendix A - Partnership Agreement: Copy of existing partnership agreement

8. Appendix B - Transfer Documents: Forms and documents required to effect the transfer

9. Appendix C - Financial Statements: Recent financial statements of the partnership

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents

Jurisdiction

Australia

Publisher

Genie AI

Document Type

Sale Agreement

Sector

Cost

Free to use

Find the exact document you need

Cross Purchase Buy Sell Agreement

An Australian-compliant agreement enabling business owners to purchase each other's interests upon specified triggering events, ensuring business continuity and clear exit mechanisms.

Download

Sales Exclusivity Agreement

An Australian-law governed agreement establishing exclusive sales or distribution rights within a specified territory, including performance requirements and compliance with local competition laws.

Download

Sales Rep Agreement

An Australian-law governed agreement establishing the relationship between a company and its sales representative, including commission terms and mutual obligations.

Download

Commission Agent Agreement

An Australian-law governed agreement establishing a commission-based sales relationship between a principal and an agent, defining authority, obligations, and compensation terms.

Download

Vehicle Sales Agreement Form

An Australian-compliant legal agreement for the sale and purchase of vehicles, covering essential terms and conditions under Australian law.

Download

Lease Option Agreement For Sale

An Australian legal agreement combining a property lease with an option for the tenant to purchase the property during or after the lease term.

Download

Seller Rent Back Agreement Form

An Australian legal agreement allowing property sellers to remain as tenants after sale completion, combining property sale and residential tenancy provisions under Australian law.

Download

Agreement Of Sale And General Power Of Attorney

An Australian legal document combining a sale agreement and general power of attorney, enabling both asset transfer and authorized representation in the transaction process.

Download

Oil Purchase And Sale Agreement

An Australian-law governed agreement setting out terms and conditions for the sale and purchase of oil products, including specifications, pricing, delivery, and regulatory compliance.

Download

Agreement To Split Proceeds Of Sale

An Australian legal agreement establishing terms for distributing property sale proceeds among multiple parties, compliant with Australian property and contract law.

Download

Retail Installment Sales Contract

An Australian-compliant contract for the sale of goods through installment payments, incorporating consumer credit protections and payment terms.

Download

Sale Of Partnership Interest Agreement

An Australian law-governed agreement for the sale and transfer of partnership interests, detailing terms, conditions, and obligations of all parties involved.

Download

Plot Sale Agreement

An Australian legal agreement for the sale and purchase of land plots, outlining terms, conditions, and obligations of all parties involved.

Download

Sale And Purchase Agreement Key Terms

An Australian law-governed document outlining the essential terms and conditions for a proposed sale transaction, serving as the basis for a detailed purchase agreement.

Download

Point Of Sale Contract

An Australian-law governed agreement setting out terms and conditions for point of sale transactions, ensuring compliance with Australian Consumer Law and protecting both merchant and customer interests.

Download

Business Sale Confidentiality Agreement

An Australian-law governed confidentiality agreement for protecting sensitive information during business sale transactions.

Download

Salesperson Contract

An Australian-compliant employment contract for sales professionals, covering compensation, duties, and performance expectations.

Download

Motorcycle Sales Agreement

An Australian-compliant legal agreement for the sale and purchase of motorcycles, incorporating federal and state regulatory requirements.

Download

Gas Purchase Agreement

An Australian law-governed agreement establishing terms and conditions for natural gas sale and purchase, including delivery, pricing, and operational requirements.

Download

General Sales Contract

An Australian law-compliant contract template for the sale of goods, covering essential commercial terms and consumer protection requirements.

Download

Sales And Distribution Agreement

An Australian-law governed Sales and Distribution Agreement establishing terms between supplier and distributor, including appointment, territory rights, and operational requirements.

Download

Power Sales Agreement

An Australian-law governed agreement establishing terms for electricity sale and purchase between generators and buyers, compliant with National Electricity Market requirements.

Download

Sales And Service Agreement

An Australian-law governed agreement combining sales and service provisions, establishing terms for supply of goods and related services with necessary consumer protections.

Download

Sale And Buy Back Agreement

An Australian law-governed agreement establishing terms for asset sale and subsequent repurchase by the original seller, including pricing, timing, and interim obligations.

Download

Installment Sale Agreement

An Australian-law governed agreement for the sale of goods with payment structured in installments, incorporating security interests and compliance with Australian consumer and commercial law.

Download
See more related templates

ұԾ’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; ұԾ’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

We are ISO27001 certified, so your data is secure

Organizational security:

You retain IP ownership of your documents and their information

You have full control over your data and who gets to see it