Pennsylvania § 8424 - When property is partnership property.
Full text of Pennsylvania Pennsylvania Consolidated Statutes § 8424 — When property is partnership property., with citation guidance and answers to common questions.
§ 8424. When property is partnership property.
(a) General rule.--Property is owned by a partnership and not by the partners individually if the property is acquired in the name of:
(1) the partnership by a transfer to:
(i) the partnership in its name; or
(ii) 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; 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 purchased with partnership assets.--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.
(c) Property acquired in name of partner.--Property acquired in the name of one or more of the partners is presumed to be separate property owned by the individual partner or partners, even if used for partnership purposes, if the property is acquired without:
(1) 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
(2) use of partnership assets.
Source: official Pennsylvania text · Last verified 2026-08-27
Frequently Asked Questions About Pennsylvania § 8424
What does Pennsylvania Consolidated Statutes § 8424 cover?
Section 8424 ("When property is partnership property.") is part of the Pennsylvania Consolidated Statutes, the codified statutory law of Pennsylvania. 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 Pennsylvania § 8424?
A common citation format is "Pennsylvania Consolidated Statutes § 8424" (Pennsylvania). 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 Pennsylvania law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Pennsylvania official source linked on this page or consult a licensed Pennsylvania attorney.
How does Pennsylvania § 8424 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Pennsylvania 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 Pennsylvania.