Release to Partnership Agreement

Business Letter

Dear …

It is hereby agreed between the two parties;

__(Full Name)__ of __(address)__ and __(Full Name)__ of __(address)__,

that effective __(date)__, the partnership of the existing __(type of practice/business)__ at __(location)__, __(will be/was/is)__ dissolved. Both parties are in full Agreement that immediately upon __(Name’s)__ receipt of __($amount)__ from __(Full Name)__, the said partnership __(will be/was/is)__ severed in its entirety.

Hence, it is further agreed that all responsibilities and liabilities including any and all other obligations that had previously tied these two parties together under their partnership arrangement, __(will cease/ceased/ceases)__ to exist effective __(date)__.

Receipt of monies paid to __(Full Name)__ for release of ownership in the aforementioned __(practice/business)__ signifies the date this Agreement takes effect.

The signatures below represent those parties who have entered into this Agreement.

__________________________ _________________

Signature - __(Name)__ Date

__________________________ _________________

Signature - __(Name)__ Date