Section 51. Nature of a partner's right in specific partnership property  


Latest version.
  • 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.