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Richard, Attorney
Category: Business Law
Satisfied Customers: 53673
Experience:  32 years of experience practicing law and a businessman.
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what is involved in changing a members percentage of ownership

Resolved Question:

what is involved in changing a members percentage of ownership in a limited partnership
Submitted: 7 years ago.
Category: Business Law
Expert:  Richard replied 7 years ago.

Good evening. You can do that one of two ways...You can amend and restate the partnership agreement to restate the ownership interests, or you can have the partner whose interest is being reduced execute an assignment of that portion of that partner's interest to the other partners to whom it is being allocated. Nothing needs to be filed with the Secretary of State for a change in ownership interest.


I hope this has given you the guidance you were seeking. I wish you the best of luck!


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The information given here is not legal advice. As all states have different intricacies in their laws, the information given is general only. This communication does not establish an attorney-client relationship with you. I hope this answer has been helpful to you.



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