1997 Minnesota Statutes

     323.09 Conveyance of real property of the partnership.  

    Where title to real property is in the partnership name, 
 any partner may convey title to such property by a conveyance 
 executed in the partnership name; but the partnership may 
 recover such property unless the partner's act binds the 
 partnership under the provisions of section 323.08, or unless 
 the property has been conveyed by the grantee or a person 
 claiming through such grantee to a holder for value without 
 knowledge that the partner, in making the conveyance, has 
 exceeded authority.  

    Where title to real property is in the name of the 
 partnership, a conveyance executed by a partner, in that 
 partner's own name, passes the equitable interest of the 
 partnership, provided the act is one within the authority of the 
 partner under the provisions of section 323.08.  

    Where title to real property is in the name of one or more 
 but not all the partners, and the record does not disclose the 
 right of the partnership, the partners in whose names the title 
 stands may convey title to such property, but the partnership 
 may recover such property if the partners' act does not bind the 
 partnership under the provisions of section 323.08, unless the 
 purchaser, or the purchaser's assignee, is a holder for value, 
 without knowledge.  

    Where the title to real property is in the name of one or 
 more or all the partners, or in a third person in trust for the 
 partnership, a conveyance executed by a partner in the 
 partnership name, or in that partner's own name, passes the 
 equitable interest of the partnership, provided the act is one 
 within the authority of the partner under the provisions of 
 section 323.08. 

    Where the title to real property is in the names of all the 
 partners, a conveyance executed by all the partners passes all 
 their rights in such property.  

    HIST: (7393) 1921 c 487 s 10; 1986 c 444