New York § 12 Partnership property

New York Statutes

§ 12 — Partnership property

New York § 12

Law PTRPartnership

Art. 2Nature of a Partnership

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Bluebook

N.Y. Partnership § 12 (2026).

Text

§ 12. Partnership property.

1.All property originally brought into\nthe partnership stock or subsequently acquired, by purchase or\notherwise, on account of the partnership is partnership property.\n 2. Unless the contrary intention appears, property acquired with\npartnership funds is partnership property.\n 3. Any estate in real property may be acquired in the partnership\nname. Title so acquired can be conveyed only in the partnership name.\n 4. A conveyance to a partnership in the partnership name, though\nwithout words of inheritance, passes the entire estate of the grantor\nunless a contrary intent appears.\n

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§ 12. Partnership property. 1. All property originally brought into\nthe partnership stock or subsequently acquired, by purchase or\notherwise, on account of the partnership is partnership property.\n 2. Unless the contrary intention appears, property acquired with\npartnership funds is partnership property.\n 3. Any estate in real property may be acquired in the partnership\nname. Title so acquired can be conveyed only in the partnership name.\n 4. A conveyance to a partnership in the partnership name, though\nwithout words of inheritance, passes the entire estate of the grantor\nunless a contrary intent appears.\n