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Texas Business Organizations Code

§ 152.102 — CLASSIFICATION AS PARTNERSHIP PROPERTY

BO § 152.102Title 4. PARTNERSHIPS · Ch. 152. GENERAL PARTNERSHIPS · Art. C. PARTNERSHIP PROPERTY

Statute text

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(a)Property is partnership property if acquired in the name of:
(1)the partnership; or
(2)one or more partners, regardless of whether the name of the partnership is indicated, if the instrument transferring title to the property indicates:
(A)the person's capacity as a partner; or
(B)the existence of a partnership.
(b)Property is presumed to be partnership property if acquired with partnership property, regardless of whether the property is acquired as provided by Subsection (a).
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Legislative history

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.

Source: Texas Business Organizations Code § 152.102 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.