§ 7-64-204 — When property is partnership property

Colorado § 7-64-204

• Jurisdiction: Colorado
• Title 07: Corporations
• Art.: Colorado Uniform Partnership Act (1997)

Text

(1) Property is
partnership property if acquired in the name of:

(a) The partnership; or

(b) 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.

(2) Property is acquired in the name of the partnership by a transfer to:

(a) The partnership in its name; or

(b) 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.

(3) Property is presumed to be partnership property if purchased with
partnership assets, even if 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.

(4) 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.

Legislative History

Source: L. 97: Entire article added, p. 874, � 1, effective January 1, 1998.