Changing Partners

Changing Partners

Some partnerships find it necessary to drop or add partners. Traditionally, any change of partners was actually the termination of the old partnership and the formation of a new partnership. Today, the Revised Uniform Partnership Act (RUPA) and the Uniform Partnership Act (UPA) govern how partners are added and dropped. Depending on the type of partnership, this may occur in various ways. Each of these situations will be handled differently.