New Jersey Statutes 42:1A-27. Partner not co-owner
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Terms Used In New Jersey Statutes 42:1A-27
- 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.
27. 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.
L.2000,c.161,s.27.