Florida Statutes 620.8501 – Partner not co-owner of partnership property
Current as of: 2023 | Check for updates
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Terms Used In Florida Statutes 620.8501
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
Partnership property is owned by the partnership as an entity, not by the partners as co-owners. A partner has no interest that can be transferred, either voluntarily or involuntarily, in specific partnership property.