The sale of limited partnership interests is not considered the sale of securities.

Name: The sale of limited partnership interests is not considered the sale of securities.
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Limited partnership interests are considered securities because they involve an investment of money in a common enterprise with the expectation of profits primarily from the efforts of others, which fits the definition of a security under the Howey Test used by the U.S. Supreme Court.

The Sale of Limited Partnership Interests Is Not Considered the Sale