Kansas Statutes 56a-501. Partner not co-owner of partnership property
Current as of: 2023 | Check for updates
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Terms Used In Kansas Statutes 56a-501
- 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.
- Property: includes personal and real property. See Kansas Statutes 77-201
A partner is not a co-owner of partnership property and has no interest in partnership property which can be transferred, either voluntarily or involuntarily.