8322 - Conveyance of real property of the partnership.
§ 8322. Conveyance of real property of the partnership. (a) General rule.--Where title to real property is in the partnership name, any partner may convey title to the property by a conveyance executed in the partnership name, but the partnership may recover the property unless the act of the partner binds the partnership under the provisions of section 8321(a) (relating to partner agent of partnership as to partnership business) or unless the property has been conveyed by the grantee or a person claiming through the grantee to a holder for value without knowledge that the partner, in making the conveyance, has exceeded his authority. (b) Equitable ownership where partnership is record owner.-- Where title to real property is in the name of the partnership, a conveyance executed by a partner in his own name passes the equitable interest of the partnership if the act is one within the authority of the partner under the provisions of section 8321(a). (c) Conveyance by record owners.--Where title to real property is in the name of one or more but not all the partners and the record does not disclose the right of the partnership, the partners in whose name the title stands may convey title to the property, but the partnership may recover the property if the act of the partners does not bind the partnership under the provisions of section 8321(a) unless the purchaser or his assignee is a holder for value, without knowledge. (d) Equitable ownership where partnership is not record owner.--Where the title to real property is in the name of one or more or all the partners, or in a third person in trust for the partnership, a conveyance executed by a partner in the partnership name or in his own name passes the equitable interest of the partnership if the act is one within the authority of the partner under the provisions of section 8321(a). (e) Effect of conveyance by all partners.--Where the title to real property is in the names of all the partners, a conveyance executed by all the partners passes all their rights in the property.