362.195 Conveyance of real property of the partnership.

307 words·~1 min read·/ky/chapter-362/362-195

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)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.

(2)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).

(3)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.

(4)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).

(5)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.