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Arizona Revised Statutes Title 29. Partnership § 29-1014. When property is partnership property

Current as of March 08, 2022 | Updated by FindLaw Staff

A. Property is partnership property if acquired in the name of either:

1. The partnership.

2. One or more partners with an indication in the instrument transferring title to the property of the person's capacity as a partner or of the existence of a partnership but without an indication of the name of the partnership.

B. Property is acquired in the name of the partnership by a transfer to either:

1. The partnership in its name.

2. One or more partners in their capacity as partners in the partnership, if the name of the partnership is indicated in the instrument transferring title to the property.

C. Property is presumed to be partnership property if it is purchased with partnership assets, even if it is not acquired in the name of the partnership or of one or more partners with an indication in the instrument transferring title to the property of the person's capacity as a partner or of the existence of a partnership.

D. Property acquired in the name of one or more of the partners, without an indication in the instrument transferring title to the property of the person's capacity as a partner or of the existence of a partnership and without use of partnership assets, is presumed to be separate property, even if used for partnership purposes.

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Cite this article: FindLaw.com - Arizona Revised Statutes Title 29. Partnership § 29-1014. When property is partnership property - last updated March 08, 2022 | https://codes.findlaw.com/az/title-29-partnership/az-rev-st-sect-29-1014/

Read this complete Arizona Revised Statutes Title 29. Partnership § 29-1014. When property is partnership property on Westlaw. Westlaw subscription required.

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