DevM Posted May 19, 2009 Report Share Posted May 19, 2009 Hi, I know if there are two partners and one of them wish to get out of it, the remaining partner would need to get a new EIN and it would be considered as disregarded entity, but if there are five partners in an investment partnership can one partner sell his/her share to someone new? Quote Link to comment Share on other sites More sharing options...
windmill Posted May 19, 2009 Report Share Posted May 19, 2009 Review the partnership agreement. These items should be covered there. Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted May 20, 2009 Report Share Posted May 20, 2009 In general, the partnership does not usually die unless at least half the partners change in the partnership. But there can be lots of qualifiers to that, depending on the partnership agreement and state laws as well. Quote Link to comment Share on other sites More sharing options...
DevM Posted May 20, 2009 Author Report Share Posted May 20, 2009 In general, the partnership does not usually die unless at least half the partners change in the partnership. But there can be lots of qualifiers to that, depending on the partnership agreement and state laws as well. Thank you all for responding. I have asked them to send me a copy of partnership agreement so I can review. Once again Thank you. Devm Quote Link to comment Share on other sites More sharing options...
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