Sec. 8. (1) All
property originally brought into the
partnership stock or subsequently acquired by purchase or otherwise, on account of the partnership, is partnership property.
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Terms Used In Indiana Code 23-4-1-8
- Grantor: The person who establishes a trust and places property into it.
- 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 Indiana Code 1-1-4-5
(3) Any estate in real property may be acquired in the partnership name. Title so acquired can be conveyed only in the partnership name.
(4) A conveyance to a partnership in the partnership name, though without words of inheritance, passes the entire estate of the grantor unless a contrary intent appears.
Formerly: Acts 1949, c.114, s.8.
