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362.195 Conveyance of real property of the partnership.
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(2)
(3)
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(5)
Where title to real property is in the partnership name, any partner may convey
title to such property by a conveyance executed in the partnership name; but
the partnership may recover such property unless the partner's act binds the
partnership under the provisions of KRS 362.190(1) or unless such property
has been conveyed by the grantee or a person claiming through such grantee
to a holder for value without knowledge that the partner, in making the
conveyance, has exceeded his authority.
Where title to real property is in the name of the partnership, a conveyance
executed by a partner, in his own name, passes the equitable interest of the
partnership, provided the act is one within the authority of the partner under the
provisions of KRS 362.190(1).
Where title to real property is in the name of one (1) or more but not all the
partners, and the record does not disclose the right of the partnership, the
partners in whose name the title stands may convey title to such property, but
the partnership may recover such property if the partners' act does not bind the
partnership under the provisions of KRS 362.190(1), unless the purchaser of
his assignee, is a holder for value, without knowledge.
Where the title to real property is in the name of one (1) or more or all the
partners, or in a third person in trust for the partnership, a conveyance
executed by a partner in the partnership name, or in his own name, passes the
equitable interest of the partnership, provided the act is one within the authority
of the partner under the provisions of KRS 362.190(1).
Where the title to real property is in the names of all the partners a conveyance
executed by all the partners passes all their rights in such property.
Effective:June 26, 2007
History: Repeal the prior repeal contained in 2006 Ky. Acts ch. 149, sec. 239,
which was to have been effective January 1, 2008, 2007 Ky. Acts ch. 137,
sec. 180, effective June 26, 2007. -- Repealed 2006 Ky. Acts ch. 149, sec. 239,
effective January 1, 2008. -- Created 1954 Ky. Acts ch. 38, sec. 10, effective
June 17, 1954.
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