48-1-5. Partnership property.
All property originally brought into the partnership stock, or subsequently acquired by
purchase or otherwise on account of the partnership, is partnership property.
Unless the contrary intention appears, property acquired with partnership funds is
partnership property.
Any estate in real property may be acquired in the partnership name. Title so acquired can
be conveyed only in the partnership name.
A conveyance to a partnership in the partnership name, though without words of
inheritance, passes the entire estate of the grantor, unless a contrary intent appears.
No Change Since 1953
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Last revised: Wednesday, July 23, 2008