§47B-5-1. Partner Not Coowner of Partnership Property
A partner is not a coowner of partnership property and has no interest in partnership property which can be transferred, either voluntarily or involuntarily.
A partner is not a coowner of partnership property and has no interest in partnership property which can be transferred, either voluntarily or involuntarily.
The only transferable interest of a partner in the partnership is the partner's share of the profits and losses of the partnership and the partner's right to receive distributions. The interest is personal property.
(a) A transfer, in whole or in part, of a partner's transferable interest in the partnership: (1) Is permissible;
(a) On application by a judgment creditor of a partner or of a partner's transferee, a court having jurisdiction may charge the transferable interest of the judgment debtor to satisfy the judgment. The court may appoint a receiver of the share of the distributions due or to become due to the judgment debtor in respect […]