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 the above.

Question

Quizplus · Accepted Answer

Title to real estate bought with partnership assets and used by the partnership may be put in the name of 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. This allows for clear ownership and avoids confusion in the event of a dispute or dissolution of the partnership. Option A would only give ownership to one partner, while option B would not specify individual ownership within the partnership. Option D is not a valid choice as there must be clear ownership established for partnership property.

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