New Jersey § 42:3-6 Real estate;  purchase, ownership and disposition

New Jersey Statutes

§ 42:3-6 — Real estate; purchase, ownership and disposition

New Jersey § 42:3-6

Title 42PARTNERSHIPS AND PARTNERSHIP ASSOCIATIONS

This text of New Jersey § 42:3-6 (Real estate; purchase, ownership and disposition) is published on Counsel Stack Legal Research, covering New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.J. Stat. Ann. § 42:3-6 (2026).

Text

A limited partnership association may purchase and hold real estate and dispose of the same in fee simple, or less estate, the title thereof to be in the name adopted by the association, and shall be as valid and effectual as if the same were held in the individual names of the partners of the association. The title to any real estate acquired by any such association prior to March twenty-third, one thousand eight hundred and eighty-three, and held in the association name on that date, shall be as valid as if the same had been acquired under this section. Amended by L.1953, c. 40, p. 760, s. 5, eff. March 19, 1953.

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A limited partnership association may purchase and hold real estate and dispose of the same in fee simple, or less estate, the title thereof to be in the name adopted by the association, and shall be as valid and effectual as if the same were held in the individual names of the partners of the association. The title to any real estate acquired by any such association prior to March twenty-third, one thousand eight hundred and eighty-three, and held in the association name on that date, shall be as valid as if the same had been acquired under this section. Amended by L.1953, c. 40, p. 760, s. 5, eff. March 19, 1953.