General partners have unrestricted transferability of ownership, while limited partners must have the consent of all partners to transfer their ownership.

Question

Quizplus · Accepted Answer

General partners and limited partners both have restrictions on the transferability of their ownership. General partners may need the consent of other partners or may have restrictions outlined in the partnership agreement. Limited partners are specifically restricted from having unrestricted transferability without the consent of all partners.

General Partners Have Unrestricted Transferability of Ownership, While Limited Partners