Deed of Variation (Partnerships)

Deed of Variation (Partnerships) is a simple agreement for making changes to an existing partnership agreement.

It is designed to be used alongside Long Form Partnership Agreement, which allows variations but states that any amendment must be made with the unanimous consent of all the partners.

What does Deed of Variation (Partnerships) do?

It records amendments to a partnership agreement in a single document so that, except for the stated variations, the original partnership agreement continues unchanged.

What does Deed of Variation (Partnerships) cover?

Variations can range from simple administrative or information updates through to more substantive changes to the partners’ agreed arrangements.

The template is drafted as a deed because there may be no consideration for the changes, and deeds are generally enforceable despite any lack of consideration.

When should you use Deed of Variation (Partnerships)?

Use it when the partners want to amend an existing partnership agreement and record the changes clearly in one place, while leaving the rest of the agreement in force.

What else you may need

Where the partnership is using Long Form Partnership Agreement, check that the partners give unanimous consent to the amendment, as required by that agreement.

Deed of Variation (Partnerships) is part of Corporate. Just £38.50 + VAT provides unlimited downloads from Corporate for 1 year.