{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/50-73.92.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/50-73.92.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/50-73.92.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/50-73.92.html"}],"law_id":62308,"edition_id":1,"section_id":62308,"structure_id":15631,"section_number":"50-73.92","catch_line":"Transfer of partnership property","history":"1996, c. 292.","full_text":"A\n\nPartnership property may be transferred as follows:1\n\nSubject to the effect of a statement of partnership authority under § 50-73.93, partnership property held in the name of the partnership may be transferred by an instrument of transfer executed by a partner in the partnership name.2\n\nPartnership property held in the name of one or more partners with an indication in the instrument transferring the property to them of their capacity as partners or of the existence of a partnership, but without an indication of the name of the partnership, may be transferred by an instrument of transfer executed by the persons in whose name the property is held.3\n\nPartnership property held in the name of one or more persons other than the partnership, without an indication in the instrument transferring the property to them of their capacity as partners or of the existence of a partnership, may be transferred by an instrument of transfer executed by the persons in whose name the property is held.B\n\nA partnership may recover partnership property from a transferee only if it proves that execution of the instrument of initial transfer did not bind the partnership under \u00a7 50-73.91 and:1\n\nAs to a subsequent transferee who gave value for property transferred under subdivisions A 1 or A 2, proves that the subsequent transferee knew or had received a notification that the person who executed the instrument of initial transfer lacked authority to bind the partnership; or2\n\nAs to a transferee who gave value for property transferred under subdivision A 3, proves that the transferee knew or had received a notification that the property was partnership property and that the person who executed the instrument of initial transfer lacked authority to bind the partnership.C\n\nA partnership may not recover partnership property from a subsequent transferee if the partnership would not have been entitled to recover the property, under subsection B, from any earlier transferee of the property.D\n\nIf a person holds all of the partners’ interests in the partnership, all of the partnership property vests in that person. The person may execute a document in the name of the partnership to evidence vesting of the property in that person and may file or record the document.","order_by":null,"text":{"0":{"id":227271,"text":"Partnership property may be transferred as follows:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":227272,"text":"Subject to the effect of a statement of partnership authority under § 50-73.93, partnership property held in the name of the partnership may be transferred by an instrument of transfer executed by a partner in the partnership name.","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":227273,"text":"Partnership property held in the name of one or more partners with an indication in the instrument transferring the property to them of their capacity as partners or of the existence of a partnership, but without an indication of the name of the partnership, may be transferred by an instrument of transfer executed by the persons in whose name the property is held.","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"A3"},"3":{"id":227274,"text":"Partnership property held in the name of one or more persons other than the partnership, without an indication in the instrument transferring the property to them of their capacity as partners or of the existence of a partnership, may be transferred by an instrument of transfer executed by the persons in whose name the property is held.","type":"section","prefixes":["A","3"],"prefix":"3","entire_prefix":"A3","prefix_anchor":"A3","level":2,"prior_prefix":"A2","next_prefix":"B"},"4":{"id":227275,"text":"A partnership may recover partnership property from a transferee only if it proves that execution of the instrument of initial transfer did not bind the partnership under \u00a7 50-73.91 and:","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A3","next_prefix":"B1"},"5":{"id":227276,"text":"As to a subsequent transferee who gave value for property transferred under subdivisions A 1 or A 2, proves that the subsequent transferee knew or had received a notification that the person who executed the instrument of initial transfer lacked authority to bind the partnership; or","type":"section","prefixes":["B","1"],"prefix":"1","entire_prefix":"B1","prefix_anchor":"B1","level":2,"prior_prefix":"B","next_prefix":"B2"},"6":{"id":227277,"text":"As to a transferee who gave value for property transferred under subdivision A 3, proves that the transferee knew or had received a notification that the property was partnership property and that the person who executed the instrument of initial transfer lacked authority to bind the partnership.","type":"section","prefixes":["B","2"],"prefix":"2","entire_prefix":"B2","prefix_anchor":"B2","level":2,"prior_prefix":"B1","next_prefix":"C"},"7":{"id":227278,"text":"A partnership may not recover partnership property from a subsequent transferee if the partnership would not have been entitled to recover the property, under subsection B, from any earlier transferee of the property.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B2","next_prefix":"D"},"8":{"id":227279,"text":"If a person holds all of the partners’ interests in the partnership, all of the partnership property vests in that person. The person may execute a document in the name of the partnership to evidence vesting of the property in that person and may file or record the document.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C"}},"ancestry":[{"id":15631,"edition_id":1,"name":"Relations of Partners to Persons Dealing With Partnership","identifier":"3","label":"article","depth":3,"order_by":1,"parent_id":12958,"metadata":{},"date_created":"2026-06-26 03:57:08","date_modified":"2026-06-26 03:57:08","permalink":{"id":234775,"object_type":"structure","relational_id":15631,"identifier":"3","token":"50\/2.2\/3","url":"\/50\/2.2\/3\/","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":78463,"structure_id":15631,"section_number":"50-73.91","catch_line":"Partner agent of partnership","url":"\/50-73.91\/","token":"50\/2.2\/3\/50-73.91","metadata":false},{"id":62308,"structure_id":15631,"section_number":"50-73.92","catch_line":"Transfer of partnership property","url":"\/50-73.92\/","token":"50\/2.2\/3\/50-73.92","metadata":false},{"id":59704,"structure_id":15631,"section_number":"50-73.93","catch_line":"Statement of partnership authority","url":"\/50-73.93\/","token":"50\/2.2\/3\/50-73.93","metadata":false},{"id":75044,"structure_id":15631,"section_number":"50-73.94","catch_line":"Statement of denial","url":"\/50-73.94\/","token":"50\/2.2\/3\/50-73.94","metadata":false},{"id":61175,"structure_id":15631,"section_number":"50-73.95","catch_line":"Partnership liable for partner's actionable conduct","url":"\/50-73.95\/","token":"50\/2.2\/3\/50-73.95","metadata":false},{"id":78386,"structure_id":15631,"section_number":"50-73.96","catch_line":"Partner's liability","url":"\/50-73.96\/","token":"50\/2.2\/3\/50-73.96","metadata":false},{"id":84681,"structure_id":15631,"section_number":"50-73.97","catch_line":"Actions by and against partnership and partners","url":"\/50-73.97\/","token":"50\/2.2\/3\/50-73.97","metadata":false},{"id":86574,"structure_id":15631,"section_number":"50-73.98","catch_line":"Liability of purported partner","url":"\/50-73.98\/","token":"50\/2.2\/3\/50-73.98","metadata":false}],"previous_section":{"id":78463,"structure_id":15631,"section_number":"50-73.91","catch_line":"Partner agent of partnership","url":"\/50-73.91\/","token":"50\/2.2\/3\/50-73.91","metadata":false},"next_section":{"id":59704,"structure_id":15631,"section_number":"50-73.93","catch_line":"Statement of partnership authority","url":"\/50-73.93\/","token":"50\/2.2\/3\/50-73.93","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/50-73.92\/","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":[{"id":66295,"section_number":"50-73.131","catch_line":"Statement of merger","order_by":null,"url":"\/50-73.131\/"}],"refers_to":[{"id":78463,"section_number":"50-73.91","catch_line":"Partner agent of partnership","order_by":null,"url":"\/50-73.91\/"},{"id":59704,"section_number":"50-73.93","catch_line":"Statement of partnership authority","order_by":null,"url":"\/50-73.93\/"}],"permalink":{"id":234781,"object_type":"law","relational_id":62308,"identifier":"50-73.92","token":"50\/2.2\/3\/50-73.92","url":"\/50-73.92\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/50-73.92\/","token":"50\/2.2\/3\/50-73.92","dublin_core":{"Title":"Transfer of partnership property","Type":"Text","Format":"text\/html","Identifier":"\u00a7 50-73.92","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Partnership<\/span> property<\/span> may be transferred as follows: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Subject to the effect of a statement<\/span> of partnership<\/span> authority under § 50-73.93<\/a>, partnership<\/span> property<\/span> held in the name of the partnership<\/span> may be transferred by an instrument of transfer<\/span> executed by a partner in the partnership<\/span> name. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Partnership<\/span> property<\/span> held in the name of one or more partners with an indication in the instrument transferring the property<\/span> to them of their capacity as partners or of the existence of a partnership<\/span>, but without an indication of the name of the partnership<\/span>, may be transferred by an instrument of transfer<\/span> executed by the persons<\/span> in whose name the property<\/span> is held. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Partnership<\/span> property<\/span> held in the name of one or more persons<\/span> other than the partnership<\/span>, without an indication in the instrument transferring the property<\/span> to them of their capacity as partners or of the existence of a partnership<\/span>, may be transferred by an instrument of transfer<\/span> executed by the persons<\/span> in whose name the property<\/span> is held. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> A partnership<\/span> may recover partnership<\/span> property<\/span> from a transferee only if it proves that execution of the instrument of initial transfer<\/span> did not bind the partnership<\/span> under \u00a7 50-73.91<\/a> and: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> As to a subsequent transferee who gave value for property<\/span> transferred under subdivisions A 1 or A 2, proves that the subsequent transferee knew or had received a notification that the person<\/span> who executed the instrument of initial transfer<\/span> lacked authority to bind the partnership<\/span>; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> As to a transferee who gave value for property<\/span> transferred under subdivision A 3, proves that the transferee knew or had received a notification that the property<\/span> was partnership<\/span> property<\/span> and that the person<\/span> who executed the instrument of initial transfer<\/span> lacked authority to bind the partnership<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> A partnership<\/span> may not recover partnership<\/span> property<\/span> from a subsequent transferee if the partnership<\/span> would not have been entitled to recover the property<\/span>, under subsection B, from any earlier transferee of the property<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> If a person<\/span> holds all of the partners’ interests in the partnership<\/span>, all of the partnership<\/span> property<\/span> vests in that person<\/span>. The person<\/span> may execute a document in the name of the partnership<\/span> to evidence<\/span> vesting of the property<\/span> in that person<\/span> and may file or record the document. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nTRANSFER OF PARTNERSHIP PROPERTY (\u00a7 50-73.92)\n\nA. Partnership property may be transferred as follows:\n\n 1. Subject to the effect of a statement of partnership authority under §\n 50-73.93, partnership property held in the name of the partnership may be\n transferred by an instrument of transfer executed by a partner in the\n partnership name.\n\n 2. Partnership property held in the name of one or more partners with an\n indication in the instrument transferring the property to them of their\n capacity as partners or of the existence of a partnership, but without an\n indication of the name of the partnership, may be transferred by an instrument\n of transfer executed by the persons in whose name the property is held.\n\n 3. Partnership property held in the name of one or more persons other than the\n partnership, without an indication in the instrument transferring the property\n to them of their capacity as partners or of the existence of a partnership,\n may be transferred by an instrument of transfer executed by the persons in\n whose name the property is held.\n\nB. A partnership may recover partnership property from a transferee only if it\nproves that execution of the instrument of initial transfer did not bind the\npartnership under \u00a7 50-73.91 and:\n\n 1. As to a subsequent transferee who gave value for property transferred under\n subdivisions A 1 or A 2, proves that the subsequent transferee knew or had\n received a notification that the person who executed the instrument of initial\n transfer lacked authority to bind the partnership; or\n\n 2. As to a transferee who gave value for property transferred under\n subdivision A 3, proves that the transferee knew or had received a\n notification that the property was partnership property and that the person\n who executed the instrument of initial transfer lacked authority to bind the\n partnership.\n\nC. A partnership may not recover partnership property from a subsequent\ntransferee if the partnership would not have been entitled to recover the\nproperty, under subsection B, from any earlier transferee of the property.\n\nD. If a person holds all of the partners’ interests in the partnership,\nall of the partnership property vests in that person. The person may execute a\ndocument in the name of the partnership to evidence vesting of the property in\nthat person and may file or record the document.\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}}