Law 3102 Partnership Property Powerpoint.ppt POST RUPA

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

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

View Full Document Right Arrow Icon
PARTNERSHIP PROPERTY
Background image of page 1

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

View Full DocumentRight 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.
Background 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
Background image of page 3

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

View Full DocumentRight 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.
Background 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. Sec 204(d):
Background image of page 5

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

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

This note was uploaded on 12/09/2011 for the course LAW 1101 taught by Professor Reed during the Spring '08 term at CUNY Baruch.

Page1 / 14

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

This preview shows document pages 1 - 6. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online