{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/50-73.107.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/50-73.107.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/50-73.107.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/50-73.107.html"}],"law_id":60126,"edition_id":1,"section_id":60126,"structure_id":15167,"section_number":"50-73.107","catch_line":"Transfer of partner’s transferable interest","history":"1996, c. 292.","full_text":"A\n\nA transfer, in whole or in part, of a partner’s transferable interest in the partnership:1\n\nIs permissible;2\n\nDoes not by itself cause the partner’s dissociation or a dissolution and winding up of the partnership business; and3\n\nDoes not, as against the other partners or the partnership, entitle the transferee, during the continuance of the partnership, to participate in the management or conduct of the partnership business, to require access to information concerning partnership transactions, or to inspect or copy the partnership books or records.B\n\nA transferee of a partner’s transferable interest in the partnership has a right:1\n\nTo receive, in accordance with the transfer, distributions to which the transferor would otherwise be entitled;2\n\nTo receive upon the dissolution and winding up of the partnership business, in accordance with the transfer, the net amount otherwise distributable to the transferor; and3\n\nTo seek under subdivision 6 of § 50-73.117 a judicial determination that it is equitable to wind up the partnership business.C\n\nIn a dissolution and winding up, a transferee is entitled to an account of partnership transactions only from the date of the latest account agreed to by all of the partners.D\n\nUpon transfer, the transferor retains the rights and duties of a partner other than the interest in distributions transferred.E\n\nA partnership need not give effect to a transferee’s rights under this section until it has notice of the transfer.F\n\nA transfer of a partner’s transferable interest in the partnership in violation of a restriction or prohibition on transfer contained in the partnership agreement is ineffective as to a person having notice of the restriction at the time of transfer.","order_by":null,"text":{"0":{"id":219999,"text":"A transfer, in whole or in part, of a partner’s transferable interest in the partnership:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":220000,"text":"Is permissible;","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":220001,"text":"Does not by itself cause the partner’s dissociation or a dissolution and winding up of the partnership business; and","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"A3"},"3":{"id":220002,"text":"Does not, as against the other partners or the partnership, entitle the transferee, during the continuance of the partnership, to participate in the management or conduct of the partnership business, to require access to information concerning partnership transactions, or to inspect or copy the partnership books or records.","type":"section","prefixes":["A","3"],"prefix":"3","entire_prefix":"A3","prefix_anchor":"A3","level":2,"prior_prefix":"A2","next_prefix":"B"},"4":{"id":220003,"text":"A transferee of a partner’s transferable interest in the partnership has a right:","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A3","next_prefix":"B1"},"5":{"id":220004,"text":"To receive, in accordance with the transfer, distributions to which the transferor would otherwise be entitled;","type":"section","prefixes":["B","1"],"prefix":"1","entire_prefix":"B1","prefix_anchor":"B1","level":2,"prior_prefix":"B","next_prefix":"B2"},"6":{"id":220005,"text":"To receive upon the dissolution and winding up of the partnership business, in accordance with the transfer, the net amount otherwise distributable to the transferor; and","type":"section","prefixes":["B","2"],"prefix":"2","entire_prefix":"B2","prefix_anchor":"B2","level":2,"prior_prefix":"B1","next_prefix":"B3"},"7":{"id":220006,"text":"To seek under subdivision 6 of § 50-73.117 a judicial determination that it is equitable to wind up the partnership business.","type":"section","prefixes":["B","3"],"prefix":"3","entire_prefix":"B3","prefix_anchor":"B3","level":2,"prior_prefix":"B2","next_prefix":"C"},"8":{"id":220007,"text":"In a dissolution and winding up, a transferee is entitled to an account of partnership transactions only from the date of the latest account agreed to by all of the partners.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B3","next_prefix":"D"},"9":{"id":220008,"text":"Upon transfer, the transferor retains the rights and duties of a partner other than the interest in distributions transferred.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"E"},"10":{"id":220009,"text":"A partnership need not give effect to a transferee’s rights under this section until it has notice of the transfer.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D","next_prefix":"F"},"11":{"id":220010,"text":"A transfer of a partner’s transferable interest in the partnership in violation of a restriction or prohibition on transfer contained in the partnership agreement is ineffective as to a person having notice of the restriction at the time of transfer.","type":"section","prefixes":["F"],"prefix":"F","entire_prefix":"F","prefix_anchor":"F","level":1,"prior_prefix":"E"}},"ancestry":[{"id":15167,"edition_id":1,"name":"Transferees and Creditors of Partner","identifier":"5","label":"article","depth":3,"order_by":1,"parent_id":12958,"metadata":{},"date_created":"2026-06-26 03:52:40","date_modified":"2026-06-26 03:52:40","permalink":{"id":234835,"object_type":"structure","relational_id":15167,"identifier":"5","token":"50\/2.2\/5","url":"\/50\/2.2\/5\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12958,"edition_id":1,"name":"Virginia Uniform Partnership Act","identifier":"2.2","label":"chapter","depth":2,"order_by":1,"parent_id":12957,"metadata":{},"date_created":"2026-06-26 03:44:04","date_modified":"2026-06-26 03:44:04","permalink":{"id":234691,"object_type":"structure","relational_id":12958,"identifier":"2.2","token":"50\/2.2","url":"\/50\/2.2\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12957,"edition_id":1,"name":"Partnerships","identifier":"50","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:44:04","date_modified":"2026-06-26 03:44:04","permalink":{"id":234229,"object_type":"structure","relational_id":12957,"identifier":"50","token":"50","url":"\/50\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":68416,"structure_id":15167,"section_number":"50-73.105","catch_line":"Partner not co-owner of partnership property","url":"\/50-73.105\/","token":"50\/2.2\/5\/50-73.105","metadata":false},{"id":71011,"structure_id":15167,"section_number":"50-73.106","catch_line":"Partner's transferable interest in partnership","url":"\/50-73.106\/","token":"50\/2.2\/5\/50-73.106","metadata":false},{"id":60126,"structure_id":15167,"section_number":"50-73.107","catch_line":"Transfer of partner's transferable interest","url":"\/50-73.107\/","token":"50\/2.2\/5\/50-73.107","metadata":false},{"id":57773,"structure_id":15167,"section_number":"50-73.108","catch_line":"Partner's transferable interest subject to charging order","url":"\/50-73.108\/","token":"50\/2.2\/5\/50-73.108","metadata":false}],"previous_section":{"id":71011,"structure_id":15167,"section_number":"50-73.106","catch_line":"Partner's transferable interest in partnership","url":"\/50-73.106\/","token":"50\/2.2\/5\/50-73.106","metadata":false},"next_section":{"id":57773,"structure_id":15167,"section_number":"50-73.108","catch_line":"Partner's transferable interest subject to charging order","url":"\/50-73.108\/","token":"50\/2.2\/5\/50-73.108","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/50-73.107\/","history_text":"

This law was first created in 1996. The record of its establishment is cataloged in chapter 292<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":false,"refers_to":[{"id":56128,"section_number":"50-73.117","catch_line":"Events causing dissolution and winding up of partnership business","order_by":null,"url":"\/50-73.117\/"}],"permalink":{"id":234845,"object_type":"law","relational_id":60126,"identifier":"50-73.107","token":"50\/2.2\/5\/50-73.107","url":"\/50-73.107\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/50-73.107\/","token":"50\/2.2\/5\/50-73.107","dublin_core":{"Title":"Transfer of partner’s transferable interest","Type":"Text","Format":"text\/html","Identifier":"\u00a7 50-73.107","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> A transfer<\/span>, in whole or in part, of a partner’s transferable interest in the partnership<\/span>: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Is permissible; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Does not by itself cause the partner’s dissociation or a dissolution and winding up of the partnership<\/span> business<\/span>; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Does not, as against the other partners or the partnership<\/span>, entitle the transferee, during the continuance<\/span> of the partnership<\/span>, to participate in the management or conduct of the partnership<\/span> business<\/span>, to require access to information concerning partnership<\/span> transactions, or to inspect or copy the partnership<\/span> books or records. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> A transferee of a partner’s transferable interest in the partnership<\/span> has a right: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> To receive, in accordance with the transfer<\/span>, distributions<\/span> to which the transferor would otherwise be entitled; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> To receive upon the dissolution and winding up of the partnership<\/span> business<\/span>, in accordance with the transfer<\/span>, the net amount otherwise distributable to the transferor; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> To seek under subdivision 6 of § 50-73.117<\/a> a judicial determination that it is equitable<\/span> to wind up the partnership<\/span> business<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> In a dissolution and winding up, a transferee is entitled to an account of partnership<\/span> transactions only from the date of the latest account agreed to by all of the partners. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> Upon transfer<\/span>, the transferor retains the rights and duties of a partner other than the interest in distributions<\/span> transferred. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> A partnership<\/span> need not give effect to a transferee’s rights under this section until it has notice of the transfer<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

F.<\/span> A transfer<\/span> of a partner’s transferable interest in the partnership in violation of a restriction or prohibition on transfer<\/span> contained in the partnership agreement<\/span> is ineffective as to a person<\/span> having notice of the restriction at the time of transfer<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nTRANSFER OF PARTNER’S TRANSFERABLE INTEREST (\u00a7 50-73.107)\n\nA. A transfer, in whole or in part, of a partner’s transferable interest\nin the partnership:\n\n 1. Is permissible;\n\n 2. Does not by itself cause the partner’s dissociation or a dissolution\n and winding up of the partnership business; and\n\n 3. Does not, as against the other partners or the partnership, entitle the\n transferee, during the continuance of the partnership, to participate in the\n management or conduct of the partnership business, to require access to\n information concerning partnership transactions, or to inspect or copy the\n partnership books or records.\n\nB. A transferee of a partner’s transferable interest in the partnership\nhas a right:\n\n 1. To receive, in accordance with the transfer, distributions to which the\n transferor would otherwise be entitled;\n\n 2. To receive upon the dissolution and winding up of the partnership business,\n in accordance with the transfer, the net amount otherwise distributable to the\n transferor; and\n\n 3. To seek under subdivision 6 of § 50-73.117 a judicial determination\n that it is equitable to wind up the partnership business.\n\nC. In a dissolution and winding up, a transferee is entitled to an account of\npartnership transactions only from the date of the latest account agreed to by\nall of the partners.\n\nD. Upon transfer, the transferor retains the rights and duties of a partner\nother than the interest in distributions transferred.\n\nE. A partnership need not give effect to a transferee’s rights under this\nsection until it has notice of the transfer.\n\nF. A transfer of a partner’s transferable interest in the partnership in\nviolation of a restriction or prohibition on transfer contained in the\npartnership agreement is ineffective as to a person having notice of the\nrestriction at the time of transfer.\n\nHISTORY: 1996, c. 292.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}