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Home Q&A Forum Can a partner assign their interest in a partnership without the consent of the other partners?
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Partnership

Assignment Of Partnership Interest

Texas

Asked on Sep 15, 2024

Can a partner assign their interest in a partnership without the consent of the other partners?

I am a partner in a small business partnership, and one of my fellow partners is looking to assign their interest in the partnership to a third party. However, we do not have any provisions in our partnership agreement regarding the assignment of partnership interests. I am concerned about the implications of this assignment and whether it can be done without the consent of the other partners. I want to understand the legal rights and obligations surrounding the assignment of partnership interests in order to make an informed decision and protect the interests of all partners involved.

1 Attorney answer

Answer

Partnership

Texas

Answered 11 days ago

Thomas D.

ContractsCounsel verified

Business Lawyer
Licensed in Wisconsin
Free Consultation

It is highly unusual that your partnership agreement does not address this issue. If there is no agreement to the contrary, then subject to very limited exceptions, a partner can assign its partnership interest.

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