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What are parternship properties?

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Anonymous

14y ago
Updated: 8/20/2019

With no other information to go on, it must be assumed that the phrase refers to properties which are owned jointly by two or more individuals or corporations.

Answer

Property owned by a partnership is treated as a joint tenancy with the right of survivorship. Therefore, if a partner dies their interest in the property automatically passes to the surviving partners rather than passing to the decedent's estate. In order to create a tenancy in partnership that intention must be clearly stated on the deed.

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Wiki User

14y ago

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