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N.Y. Partnership Law § 12

Partnership property

2014-09-22

§ 12. Partnership property. 1. All property originally brought into\nthe partnership stock or subsequently acquired, by purchase or\notherwise, on account of the partnership is partnership property.\n 2. Unless the contrary intention appears, property acquired with\npartnership funds is partnership property.\n 3. Any estate in real property may be acquired in the partnership\nname. Title so acquired can be conveyed only in the partnership name.\n 4. A conveyance to a partnership in the partnership name, though\nwithout words of inheritance, passes the entire estate of the grantor\nunless a contrary intent appears.\n

Official source: NYS Open Legislation (New York State Senate). Reproduced from public-domain New York statutes; confirm against the official source for the current text. Not legal advice.