To be partnership property, title to real estate bought with partnership assets and used by the partnership may be put in the name of:
A) any partner in that individual's name.
B) the partnership only.
C) the partnership in its name, or 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.
D) None of these.

Question

Quizplus · Accepted Answer

To be partnership property, title to real estate purchased with partnership assets and used by the partnership can be put in the name of the partnership or one or more partners in their capacity as partners in the partnership if the name of the partnership is indicated in the document transferring title. Putting the property in the name of any individual partner or only in the name of the partnership would not make it partnership property.

To Be Partnership Property, Title to Real Estate Bought with Partnership