Which of the following statements about a partner's partnership interest is false?
A)The RUPA gives ownership of partnership property to the partners.
B)A partner's partnership interest includes his transferable interest.
C)A partner has no individual ownership rights in partnership property.
D)Partners have the right to use partnership property for partnership purposes.

Question

Quizplus · Accepted Answer

A partner's ownership interest,called a partnership interest,embodies all a partners' rights in a partnership: (1)the partner's transferable interest and (2)the partner's management and other rights.Note that a partner has no individual ownership rights in partnership property.The RUPA gives ownership of partnership property to the partnership only.Partners do,however,have the right to use partnership property for partnership purposes.

Which of the Following Statements About a Partner's Partnership Interest