|§ 50||Extent of Property Rights of a Partner|
|§ 51||Nature of a Partner’s Right in Specific Partnership Property|
|§ 52||Nature of Partner’s Interest in the Partnership|
|§ 53||Assignment of Partner’s Interest|
|§ 54||Partner’s Interest Subject to Charging Order|
Terms Used In New York Laws > Partnership > Article 5 - Property Rights of a Partner.
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Continuance: Putting off of a hearing ot trial until a later time.
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Dower: A widow
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Fraud: Intentional deception resulting in injury to another.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
- 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.
- Personal property: All property that is not real property.