Property acquired by a partnership is property of the partnership and not of the partners individually.
Cal. Corp. Code § 16203
Nature of Partnership
Known as the Uniform Partnership Act
The act spans §§ 16100–16962 (85 sections).
Applied in 1 court decision — leading case 237 Cal. App. 4th 921 - In re Marriage of Lafkas (2015)
Most recently applied in 237 Cal. App. 4th 921 - In re Marriage of Lafkas (June 2015)
Added by Stats. 1996, Ch. 1003, Sec. 2
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.