New Jersey § 42:1a-12
Full text of New Jersey New Jersey Statutes § 42:1a-12, with citation guidance and answers to common questions.
§ 42:1a-12.
a. Property is partnership property if acquired in the name of: (1) the partnership; or (2) one or more partners with an indication in the instrument transferring title to
the property of the person's capacity as a partner or of the existence of a partnership
but without an indication of the name of the partnership. b. 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 their capacity as partners in the partnership, if the
name of the partnership is indicated in the instrument transferring title to the property. c. Property is presumed to be partnership property if purchased with partnership assets,
even if not acquired in the name of the partnership or of one or more partners with
an indication in the instrument transferring title to the property of the person's
capacity as a partner or of the existence of a partnership. d. Property acquired in the name of one or more of the partners, without an indication
in the instrument transferring title to the property of the person's capacity as a
partner or of the existence of a partnership and without use of partnership assets,
is presumed to be separate property, even if used for partnership purposes.
Frequently Asked Questions About New Jersey § 42:1a-12
What does New Jersey Statutes § 42:1a-12 cover?
Section 42:1a-12 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 42:1a-12?
A common citation format is "New Jersey Statutes § 42:1a-12" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 42:1a-12 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.