Washington Code 25.05.205 – Partner’s transferable interest in partnership
Current as of: 2023 | Check for updates
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The only transferable interest of a partner in the partnership is the partner’s share of the profits and losses of the partnership and the partner’s right to receive distributions. The interest is personal property.
[ 1998 c 103 § 502.]
Terms Used In Washington Code 25.05.205
- 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.