Guam § 25302 - Conveyance of Real Property of the Partnership.

§ 25302. Conveyance of Real Property of the Partnership.

(1) Where title to real property is in the partnership name, any partner

may convey title to such property by 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 paragraph (1) of §

25301, 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 paragraph (1) of § 25301.

(3) Where title to real property is in the name of one 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 partner's act

does not bind the partnership under the provisions of paragraph (1) of §

25301, unless the purchaser or his assignee, is the holder for value, without

knowledge.

(4) Where the title to real property is in the name of one 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 paragraph (1) of § 25301.

(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.