How do I remove myself from a business partnership?

Asked almost 5 years ago - Lansdale, PA

My brother and I own a contracting busness. I am leaving the business. How do I legally remove myself from the business?

Attorney answers (1)

  1. Daniel Andrew Pallen

    Contributor Level 11

    Answered . Legally removing yourself from a partnership "dissolves" the partnership. To dissolve a partnership any of the enumerated occurrences as defined by 15 Pa. C.S.A. 8353 must happen. If your conduct/actions are not within the scope of this statute then you have not legally removed yourself from the partnership. After the dissolution the partnership still exists for the purposes of "winding up" the corporation. (i.e. the satisfaction of any debts/liabilities the partnership has). Please contact my offices in Media, PA (Delaware County) to discuss this further or to set up a free, no-obligation 60 minute consultation. (610) 566-1001, Daniel A. Pallen, Esq.

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