Part 3Relationship of partners to third persons and to each other
Relationship of partners to one another
40Partnership land treated as personal property as between partners
Land that has become partnership property must be treated as between the partners as personal property and not real property.
If a partner is deceased,—
- the reference to the partners in subsection (1) includes the personal representatives of the deceased partner; and
- subsection (1) also applies as between the heirs of the deceased partner and the deceased partner’s personal representatives.
This section applies unless the contrary intention appears.
Compare
- 1908 No 139 s 25