§ 16501 Partner Property Ownership Limits

Corporations Code·California

AI SummaryVerified

This law says a partner does not own partnership property and cannot give away or lose any interest in it.

Key Takeaways

•A partner is not considered a co‑owner of the partnership’s stuff.
•The partner has no share that can be given away or taken away.
•This applies whether the partner tries to transfer the interest voluntarily or it happens without their choice.

Example

Two friends run a coffee shop together. One friend tries to sell the shop's espresso machine to a third person without the other's permission.

Because the friend is only a partner, not an owner, the law says they can't transfer the machine or claim any ownership share in it.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source

View on CA.gov

§ 16501 Partner Property Ownership Limits

A partner is not a coowner of partnership property and has no interest in partnership property that can be transferred, either voluntarily or involuntarily. (Added by Stats. 1996, Ch. 1003, Sec. 2. Effective January 1, 1997.)

Last verified: January 10, 2026

Key Terms

partner coowner partnership property transferred voluntarily or involuntarily

References

Official text at leginfo.legislature.ca.gov
California Legislature. Corporations Code. Section 16501.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References