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This entry was published on 2014-09-22
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SECTION 51
Nature of a partner's right in specific partnership property
Partnership (PTR) CHAPTER 39, ARTICLE 5
§ 51. Nature of a partner's right in specific partnership property.
1. A partner is co-owner with his partners of specific partnership
property holding as a tenant in partnership.

2. The incidents of this tenancy are such that:

(a) A partner, subject to the provisions of this chapter and to any
agreement between the partners, has an equal right with his partners to
possess specific partnership property for partnership purposes; but he
has no right to possess such property for any other purpose without the
consent of his partners.

(b) A partner's right in specific partnership property is not
assignable except in connection with the assignment of the rights of all
the partners in the same property.

(c) A partner's right in specific partnership property is not subject
to attachment or execution, except on a claim against the partnership.
When partnership property is attached for a partnership debt the
partners, or any of them, or the representatives of a deceased partner,
cannot claim any right under the homestead or exemption laws.

(d) On the death of a partner his right in specific partnership
property vests in the surviving partner or partners, except where the
deceased was the last surviving partner, when his right in such property
vests in his legal representative. Such surviving partner or partners,
or the legal representative of the last surviving partner, has no right
to possess the partnership property for any but a partnership purpose.

(e) A partner's right in specific partnership property is not subject
to dower, curtesy, or allowances to surviving spouses, heirs, or next of
kin.