N.Y. PTR Law § 12
This is the official text of N.Y. PTR Law § 12, part of New York’s PTR Law — part of the compiled statutory law of New York, published by the state as "PTR Law." Browse the sections below, each linked to its official government source.
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Partnership property
Official statutory 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
Status: in_force · Read it on the official government site
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