Wisconsin Statutes 178.0501 – Partner not co-owner of partnership property
Current as of: 2023 | Check for updates
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Terms Used In Wisconsin Statutes 178.0501
- 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 real and personal property. See Wisconsin Statutes 990.01
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.