• Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Legal Templates

Legal Templates
  • Business Forms
    Business & Contracts

    All of our legal contracts and documents are drafted and regularly updated by attorneys licensed in their respective jurisdictions, paralegals, or subject matter experts. Save your hard-earned money and time with Legal Templates.

    Top Business Forms
    Business Formation
    • Business Plan
    • LLC Operating Agreement
    • Articles of Incorporation
    • Corporate Bylaws
    • Buy-Sell Agreement
    Business Operations
    • Business Contract
    • Partnership Agreement
    • Non-Disclosure Agreement
    • Release of Liability
    • Letter of Intent
    Sales and Payments
    • Purchase Agreement
    • Sales Agreement
    • Invoice
    • Purchase Order
    • Business Purchase
    Employment and HR
    • Employment Contract
    • Employment Offer
    • Employment Verification
    • Freelance Contract
    • Non-Compete Agreement
    View All Business Forms
  • Real Estate Forms
    Real Estate

    All of our legal contracts and documents are drafted and regularly updated by attorneys licensed in their respective jurisdictions, paralegals, or subject matter experts. Save your hard-earned money and time with Legal Templates.

    Top Real Estate Forms
    Landlords
    • Lease Agreement
    • Property Management
    • Eviction Notice
    • Late Rent Notice
    • Lease Termination
    Tenants
    • Room Rental
    • Sublease Agreement
    • Roommate Agreement
    • Notice to Vacate
    • Early Lease Termination
    Home Ownership
    • Real Estate Purchase Agreement
    • Mortgage Deed
    • Quitclaim Deed
    • Deed of Trust
    • Moving Checklist
    View all Real Estate Forms
  • Personal & Family Forms
    Personal and Family

    All of our legal contracts and documents are drafted and regularly updated by attorneys licensed in their respective jurisdictions, paralegals, or subject matter experts. Save your hard-earned money and time with Legal Templates.

    Top Personal and Family Forms
    Estate Planning
    • Power of Attorney
    • Last Will & Testament
    • Living Will
    • Advance Directive
    • DNR Form
    Personal Finance
    • Bill of Sale
    • Loan Agreement
    • Purchase Agreement
    • Promissory Note
    • Sales Agreement
    Family Matters
    • Parenting Plan
    • Child Travel Consent
    • Divorce Agreement
    • Separation Agreement
    • Prenuptial Agreement
    Affidavits
    • General Affidavit
    • Gift Affidavit
    • Affidavit of Identity
    • Affidavit of Residence
    • Affidavit of Death
    View All Personal Forms
  • Support
    Resources
    • Business
    • Real Estate
    • Personal and Family
    • Financial
    • Estate Planning
    Support
    • About Us
    • Careers
    • Contact Us
    • All Legal Documents

    Monday - Friday | 9AM - 7PM EDT

    (855) 335-9779

  • Sign In
  • :email

Home Business Documents Partnership Agreement Amendment

Free Partnership Amendment

Use our Partnership Agreement Amendment form to modify a partnership agreement.

Updated November 13, 2020

Table of Contents
  • What is a Partnership Amendment?
  • When a Partnership Amendment is Needed
  • The Consequences of Not Using a Partnership Amendment Form
  • Most Common Amendment Situations
  • What Should Be Included?
  • Partnership Amendment Template Sample

What is a Partnership Amendment?

A Partnership Amendment is an internal written document detailing any changes to the terms of a partnership that were previously documented in a Partnership Agreement. A partnership is a business arrangement where two or more individuals share ownership in a company and agree to share in the profits and losses of their company. You should learn about the types of partnerships available and consider the advantages and disadvantages of a partnership before choosing or amending this business relationship.

A simple Amendment will identify the following basic elements:

  • Partners: the name of each person who owns the company
  • Partnership Name: the partnership’s name
  • Agreement: the date of the original agreement
  • Amended Sections: the specific sections of the agreement being changed

As a reference, a Partnership Amendment is known by other names:

  • Partnership Addendum
  • Amendment to Partnership Agreement
  • General Partnership Amendment
  • Business Partnership Amendment
  • Amendment to Partnership Contract
  • Amendment to Articles of Partnership
  • 50/50 Partnership Amendment

When a Partnership Amendment is Needed

There can be multiple amendments to the original agreement. As a partnership grows and develops, the needs and circumstances of the partnership will naturally change. Sometimes these changes need to be documented in writing in an Amendment to Partnership Contract. The roles of the partners may change, additional investments may be made, or the partners may decide that they need new or more specific provisions to govern their partnership.

The Consequences of Not Using a Partnership Amendment Form

Without a written Partnership Amendment, either the original Agreement or your state’s default rules on partnerships will apply. For example, if the profits and losses of the partnership are currently shared equally, but a partner makes an additional capital contribution and wants to have a larger share of the profit, a written Partnership Amendment needs to be executed.

Or if interest were not discussed in the original agreement, the state may automatically provide for interest on that additional capital contribution. If the partners prefer not to pay interest, an addendum allows them to dictate how events not contemplated in the original agreement will be handled.

Nearly every state has adopted the Uniform Partnership Act (1914) or Revised Uniform Partnership Act (1997).

Most Common Amendment Situations

When is it commonly used?

A Partnership Amendment is used whenever there is a change to the original Partnership Agreement or new provisions need to be added to the original Agreement. Often this is used when:

  • A partner leaves the partnership
  • A new partner is added to the partnership
  • To change the distribution of profits and losses
  • A partner contributes additional capital
  • The partners adopt new accounting and oversight policies
  • The partnership changes its banking institution

An Amended and Restated Partnership Agreement is an agreement that has been changed one or more times (amended), but is now appearing in its entirety with the amendments incorporated (restated).

What Should Be Included?

A simple Partnership Amendment should generally have at least the following:

  •      Who are the original partners
  •      What provisions are being changed or amended
  •      Where is the partnership’s business located
  •      When will the amendment go into effect
  •      How many other amendments have there been

Here are some other useful details to include:

Counterparts: the amendment may be signed in one or more counterparts
Governing Law: which state’s laws will apply if there is a dispute
Original Agreement: unless otherwise modified, the original agreement remains in full force and effect

Be sure to attach or file any Partnership Amendments with the original agreement.

Partnership Amendment Template Sample

Amendment to Partnership Agreement Template

Download PDF
Download MS Word

Related Business Operations Documents

View All Documents

Create a Partnership

  • Affiliate Agreement
  • Arbitration Agreement Template
  • Assignment of Partnership Interest
  • Business Contract
  • HIPAA Business Associate Agreement
  • Joint Venture Agreement
  • Partnership Agreement
  • Tolling Agreement

Manage Business Property

  • Business Purchase Agreement
  • Letter of Intent

Buy/Sell Goods & Services

  • Catering Invoice
  • Cleaning Invoice
  • Free Invoice Templates
  • Landscaping Invoice
  • Mechanic’s Lien
  • Photography Invoice
  • Plumbing Invoice
  • Purchase Order

Protect Your Business

  • Hold Harmless (Indemnity) Agreement
  • Privacy Policy
  • Release of Liability Form (Waiver)
  • Terms of Use Agreement

Buy/Sell Items

  • Purchase Agreement

Manage Your Finances

  • Receipt

Start a Business

  • Shareholders Agreement
  • Stock Certificate
  • Stock Purchase Agreement
Amendment to Partnership Agreement Template Preview PDF

Free Partnership Agreement Amendment

Create Your Partnership Agreement Amendment

Legal Documents

  • All Legal Forms
  • Business Forms
  • Real Estate Forms
  • Personal and Family Forms

Popular Forms

  • Lease Agreements
  • Power of Attorney Forms
  • Eviction Notice
  • Living Will
  • Non-Disclosure Agreement

Resources

  • Legal Resources
  • Business
  • Real Estate
  • Personal & Family
  • Estate Planning
  • Financial
  • Covid-19 Resources

Company

  • Pricing
  • About Us
  • Careers
  • Contact Us
  • Partner With Us
  • Legal Dictionary

Users

  • Account
  • Terms of Use
  • Privacy Policy
  • Do Not Sell My Personal Information
McAfee - Together is power.
Trustpilot
BBB Accredited Business

(855) 335-9779, Monday-Friday, 9AM - 7PM EDT

Facebook Twitter LinkedIn

Copyright 2023 Legal Templates LLC. Legal Templates LLC is not a lawyer, or a law firm and does not engage in the practice of law. Legal Templates cannot and does not provide legal advice or legal representation. All information, software and services provided on the site are for informational purposes and self-help only and are not intended to be a substitute for a lawyer or professional legal advice. Use of this site is subject to our Terms of Use. Legaltemplates.net is owned and operated by Resume Technologies Limited, London with offices in London United Kingdom.”

Esc

Free Partnership Amendment

Amendment to Partnership Agreement Template

The document above is a sample. Please note that the language you see here may change depending on your answers to the document questionnaire.

Fill in the details

Thank you for downloading one of our free legal templates!

Would you leave us a review?

We hope you've found what you need and are able to avoid the time, costs, and stress associated with dealing with a lawyer.

A review would mean the world to us (it only takes about 15 seconds).

Please check your download folder for MS Word or open tabs for PDF so you can access your FREE Legal Template Sample

Thanks again, and good luck!

Leave My Review