Law 3102 Partnership Property Powerpoint.ppt POST RUPA

Law 3102 Partnership Property Powerpoint.ppt POST RUPA -...

Info icon This preview shows pages 1–6. Sign up to view the full content.

View Full Document Right Arrow Icon
PARTNERSHIP PROPERTY
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Definition Partnership Capital Contributed to partnership i.e. “originally brought into partnership” at formation or later capital contributions Total money and property that the partners contribute to use in the pship enterprise. Pship capital represents the partners’ equity in the pship. No minimimum capitalization is necessary for the pship business to commence.
Image of page 2
Definition: Partnership Property Property later acquired by the pship is conclusively deemed to be pship property. Sec 203 Property transferred to the pship in its name. Sec 204 Property transferred to one or more partners in their capacity as partners in pship if the pship name is indicated in the doc transferring title. Sec 204
Image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Definition: Partnership Property Property may be pship property even if not acquired in pship name: Property is pship property if acquired in the name of one or more of the partners with an indication in the document transferring title of either their capacity as partners; or the existence of a pship even if its name is not indicated.
Image of page 4
Definition: Partnership Property Finally, RUPA sets out some presumptions: Sec 204(c): property purchased with pship funds is presumed to be pship property without regard to name in which title is held.
Image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 6
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern