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How do you document the sale and purchase of a limited liability partnership?

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Published by a ��ɫ�� Corporate expert

Published on: 09 March 2022

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We have assumed that the relevant Limited liability partnership (LLP) is established in England and Wales.

There are two Options for the sale and purchase of an LLP. The first option is for the members of an LLP to transfer their interests in the LLP to one or more third parties. See Q&A: How might a member of an LLP transfer or assign their Partnership interest to a new member?

As an alternative to the LLP’s members transferring their interests in such LLP to a third party,

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Jurisdiction(s):

United Kingdom

Key definition:

Limited Liability definition

What does Limited Liability mean?

Arises due to the legal separation of a business entity from those who own it. The liability of the shareholders of a company limited by shares is limited to the amount unpaid, if any, on the shares held by them. This distinguishes companies from sole traders and general partnerships.

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