Partnership Dissolution and Winding Up in Florida
Dissolution (Section 620.8801) triggers: partner withdrawal, term expiration, unanimous consent, or judicial order. Winding up: complete business, collect receivables, pay debts (creditors first, then partner loans, capital, profits), distribute assets. Fiduciary duties continue through winding up. File dissolution statement with FL DOS.
Dissolution Triggers
- Partner withdrawal, term expiration
- Agreement event, unanimous consent
- Judicial dissolution, illegality
Winding Up Order
- 1: creditors
- 2: partner loans
- 3: capital contributions
- 4: profit shares
Ongoing Duties
- Loyalty, care, good faith continue
- No competition until complete
- Breach = personal liability
Related Terms
- Partnership Agreement — Governing document
Barnes Walker Business Law
Barnes Walker’s attorneys handle partnership dissolutions in Florida. Request a legal inquiry for assistance.
Florida Law Reference
Fla. Stat. Ch. 620
Governs the creation and operation of limited partnerships and limited liability limited partnerships in Florida.
Fla. Stat. Ch. 61
Governs dissolution of marriage proceedings in Florida, including equitable distribution of marital assets, alimony, and parental responsibility.
Reviewed by the attorneys at Barnes Walker, Goethe, Shea & Robinson, PLLC