Resignation by a member of the limited liability partnership (recommended format)
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What's a resignation by a member of the limited liability partnership (recommended format), and when do you need it?
This is a standard resignation letter for a member of a limited liability partnership (LLP) to exit that business. (Partners of Limited Liability Partnerships are called 'members'.) The letter is drafted as a deed, which means that the resigning member will need to have it witnessed.
Why is it done by deed? Deeds are contracts, but they have more exacting signature provisions, incorporating witnesses of signatures, which means they tend to be used in certain circumstances where a straightforward contract would be considered insufficient. The point of including the witnesses is to make clear, unequivocally, that both the signing parties fully understood what they were signing and that they intended to agree to the terms set out in the deed.
Powers of attorney, transfers of property and other valuable items will usually be done by way of a deed. Setting up an LLP, joining or leaving one is also a situation where a deed is considered appropriate, to evidence that the persons identified as members fully intended to commit to the obligations and responsibilities of members in this business – some of which may well endure after the partner leaves.
The LLP deed, which forms the contract between the member and the LLP, may well include a notice period for resigning members. You’ll need to check what this sets out. Our template includes the drafting options and guidance notes to ensure you’re including the relevant detail.