Michigan Cancellation of a Limited Partnership is a legal procedure that can be used to terminate a limited partnership in the state of Michigan. This procedure is used when the parties involved in the partnership wish to dissolve the agreement and end the business relationship. The process involves filing the necessary paperwork with the Michigan Department of Licensing and Regulatory Affairs (LARA). Depending on the type of partnership, the documents that need to be filed may vary, but typically include a cancellation statement and a dissolution agreement. There are two types of Michigan Cancellation of a Limited Partnership: voluntary and involuntary. A voluntary cancellation occurs when the partners agree to dissolve the partnership, while an involuntary cancellation is initiated by the court due to a legal dispute between the partners. In either case, the partnership must be formally terminated in order for the dissolution to be valid. Once the paperwork is filed, the partnership is officially cancelled and the business relationship is terminated. The partners are then free to go their separate ways and pursue other business interests.