On the death of a limited partner the executor or administrator shall have all the rights of a limited partner for the purpose of settling the estate, and such power as the deceased had to constitute an assignee a substituted limited partner.

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Terms Used In Minnesota Statutes 322.21

  • Decedent: A deceased person.
  • Executor: A male person named in a will to carry out the decedent
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.

The estate of a deceased limited partner shall be liable for all the decedent‘s liabilities as limited partner.