Tex. Bus. Orgs. Code § 152.102 · Subchapter C. PARTNERSHIP PROPERTY
CLASSIFICATION AS PARTNERSHIP PROPERTY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Property is partnership property if acquired in the name of:
(1) the partnership; or
(2) one or more partners, regardless of whether the name of the partnership is indicated, if the instrument transferring title to the property indicates:
(A) the person's capacity as a partner; or
(B) the existence of a partnership.
(b) Property is presumed to be partnership property if acquired with partnership property, regardless of whether the property is acquired as provided by Subsection (a).
(c) Property acquired in the name of one or more partners is presumed to be the partner's property, regardless of whether the property is used for partnership purposes, if the instrument transferring title to the property does not indicate the person's capacity as a partner or the existence of a partnership, and if the property is not acquired with partnership property.
(d) For purposes of this section, property is acquired in the name of the partnership by a transfer to:
(1) the partnership in its name; or
(2) one or more partners in the partners' capacity as partners in the partnership, if the name of the partnership is indicated in the instrument transferring title to the property.
Notes and commentary — not statutory text
History
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/BO/htm/BO.152.htm
- Text hash
- sha256 dc7240a33df0961c04781ae5ed7c48032839e005244e27009ad1c41c912b1d4c
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.