Tennessee § 61-1-204 - When property is partnership property.
Full text of Tennessee Tennessee Code Annotated § 61-1-204 — When property is partnership property., with citation guidance and answers to common questions.
§ 61-1-204. When property is partnership property.
Property is partnership property if acquired in the name of: The partnership; or One (1) 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. Property is acquired in the name of the partnership by a transfer to: The partnership in its name; or One (1) 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. 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 (1) 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. Property acquired in the name of one (1) 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. Acts 2001, ch. 353. Cross-References. Employees' lien on firm property, title 66, ch. 13. Textbooks. Pritchard on Wills and Administration of Estates (4th ed., Phillips and Robinson), § 692. Tennessee Jurisprudence, 20 Tenn. Juris., Partnership, §§ 14, 16. Law Reviews. The Tennessee Corporation Act and Close Corporations for Profit (James S. Covington, Jr.), 43 Tenn. L. Rev. 183.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 61-1-204
What does Tennessee Code Annotated § 61-1-204 cover?
Section 61-1-204 ("When property is partnership property.") is part of the Tennessee Code Annotated, the codified statutory law of Tennessee. 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 Tennessee § 61-1-204?
A common citation format is "Tennessee Code Annotated § 61-1-204" (Tennessee). 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 Tennessee law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Tennessee official source linked on this page or consult a licensed Tennessee attorney.
How does Tennessee § 61-1-204 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Tennessee 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 Tennessee.