48-1-5 - Partnership property.
48-1-5. Partnership property.
All property originally brought into the partnership stock, or subsequently acquired bypurchase or otherwise on account of the partnership, is partnership property.
Unless the contrary intention appears, property acquired with partnership funds ispartnership property.
Any estate in real property may be acquired in the partnership name. Title so acquired canbe conveyed only in the partnership name.
A conveyance to a partnership in the partnership name, though without words ofinheritance, passes the entire estate of the grantor, unless a contrary intent appears.
No Change Since 1953