(1) If the partnership agreement provides that, in the event of a partner’s death, the partnership is to be continued with the partner’s heirs, each heir may make their remaining in the partnership contingent upon their being granted the status of a limited partner and retaining the previous profit share, and upon the deceased’s share of contribution devolved on them being recognised as their contribution as a limited partner.
(2) If the other partners refuse a request to this effect by the heir, the heir may declare their withdrawal from the partnership, without having to comply with a period of notice.
(3) The rights referred to above may be asserted by the heir only within a period of three months from the date on which they gained knowledge of the devolution of the inheritance. The provisions applicable to limitation in section 210 of the Civil Code apply accordingly to the running of the time period. Where the right to disclaim the inheritance has not been forfeited at the end of the three months, the time limit will not end prior to the expiry of the period for disclaimer.
(4) If the heir withdraws from the partnership within the period specified in subsection (3), or the partnership is dissolved during such period, or the heir is granted the status of a limited partner, the heir will be liable for the partnership debts incurred prior thereto only pursuant to the civil law provisions concerning the liability of heirs for obligations of the estate.
(5) The partnership agreement cannot exclude application of the provisions of subsections (1) to (4); however, in the event that the heir has made their remaining in the partnership contingent upon being granted the status of a limited partner, their profit share may be determined differently from that of the deceased.