Ohio § 1776.32
Full text of Ohio Ohio Revised Code § 1776.32, with citation guidance and answers to common questions.
§ 1776.32.
(A) Partnership property may be transferred as follows: (1) Partnership property held in the name of the partnership may be transferred by an
instrument of transfer a partner executes in the partnership name, subject to any
statement of partnership authority under section 1776.33 of the Revised Code . (2) Partnership property held in the name of one or more partners, when the instrument
transferring the property to them indicates their capacity as partners or of the existence
of a partnership but does not indicate the name of the partnership, may be transferred
by an instrument of transfer executed by the persons in whose name the property is
held. (3) Partnership property held in the name of one or more persons other than the partnership,
without an indication in the instrument transferring the property to them of their
capacity as partners or of the existence of a partnership, may be transferred by an
instrument of transfer executed by the persons in whose name the property is held. (B) A partnership may recover partnership property from a transferee only if it proves
that the execution of the instrument of initial transfer did not bind the partnership
under section 1776.31 of the Revised Code and that either of the following is true: (1) A subsequent transferee who gave value for property transferred under division (A)(1)
or (2) of this section knew or had received a notification that the person who executed
the instrument of initial transfer lacked authority to bind the partnership; (2) A transferee who gave value for property transferred under division (A)(3) of this
section, knew or had received a notification that the property was partnership property
and the person who executed the instrument of initial transfer lacked authority to
bind the partnership. (C) A partnership may not recover partnership property from a subsequent transferee if,
under division (B) of this section, the partnership would not have been entitled to
recover the property from any earlier transferee of the property. (D) If a person holds all interests of all partners in the partnership, all of the partnership
property vests in that person. The person may execute a document in the name of the partnership to evidence vesting
of the property in that person and may file or record the document.
Frequently Asked Questions About Ohio § 1776.32
What does Ohio Revised Code § 1776.32 cover?
Section 1776.32 is part of the Ohio Revised Code, the codified statutory law of Ohio. 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 Ohio § 1776.32?
A common citation format is "Ohio Revised Code § 1776.32" (Ohio). 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 Ohio law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Ohio official source linked on this page or consult a licensed Ohio attorney.
How does Ohio § 1776.32 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Ohio 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 Ohio.