2006 Nebraska Revised Statutes - § 67-308 — Partnership property; what constitutes.

Section 67-308
Partnership property; what constitutes.

(1) All property originally brought into the partnership stock or subsequently acquired by purchase or otherwise, on account of the partnership, is partnership property.

(2) Unless the contrary intention appears, property acquired with partnership funds is partnership property.

(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.

Source:

Laws 1943, c. 143, § 8, p. 489

Termination date January 1, 2001

Annotations:

Where property is sold and proceeds of sale turned over to partnership, it is indicative that property belonged to partnership. Bode v. Prettyman, 149 Neb. 179, 30 N.W.2d 627 (1948).

~Reissue Revised Statutes of Nebraska