Tennessee § 61-1-502 - Partner's transferable interest in partnership.
Full text of Tennessee Tennessee Code Annotated § 61-1-502 — Partner's transferable interest in partnership., with citation guidance and answers to common questions.
§ 61-1-502. Partner's transferable interest in partnership.
The only transferable interest of a partner in the partnership is the partner's share of the profits and losses of the partnership and the partner's right to receive distributions. This interest is personal property. Acts 2001, ch. 353. Law Reviews. Partnership — Conversion of Realty Into Personalty, 21 Tenn. L. Rev. 202.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 61-1-502
What does Tennessee Code Annotated § 61-1-502 cover?
Section 61-1-502 ("Partner's transferable interest in partnership.") 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 § 61-1-502?
A common citation format is "Tennessee Code Annotated § 61-1-502" (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 § 61-1-502 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.