1928

LAWS OF MARYLAND

[Ch. 311

(1)    HIS RIGHT IN SPECIFIC PARTNERSHIP
PROPERTY;

(2)   HIS INTEREST IN THE PARTNERSHIP; AND

(3)     HIS RIGHT TO PARTICIPATE IN THE

MANAGEMENT.

REVISOR'S NOTE: This section presently appears as
Art. 73A, §24.

The only changes are technical changes in
punctuation.

9-502. NATURE OF A PARTNER'S RIGHT IN SPECIFIC
PARTNERSHIP PROPERTY.

(A)    A PARTNER IS CO-OWNER WITH HIS PARTNERS OF
SPECIFIC PARTNERSHIP PROPERTY HOLDING AS A TENANT IN
PARTNERSHIP.

(B)   THE INCIDENTS OF THIS TENANCY ARE SUCH THAT:

(1)     A PARTNER, SUBJECT TO THE PROVISIONS OF
THIS TITLE AND TO ANY AGREEMENT BETWEEN THE PARTNERS,
HAS AN EQUAL RIGHT WITH HIS PARTNERS TO POSSESS SPECIFIC
PARTNERSHIP PROPERTY FOR PARTNERSHIP PURPOSES; BUT HE HAS
NO RIGHT TO POSSESS SUCH PROPERTY FOR ANY OTHER PURPOSE
WITHOUT THE CONSENT OF HIS PARTNERS;

(2) A PARTNER'S RIGHTS IN SPECIFIC
PARTNERSHIP PROPERTY IS NOT ASSIGNABLE EXCEPT IN
CONNECTION WITH THE ASSIGNMENT   OF THE RIGHTS OF ALL THE
PARTNERS IN THE SAME PROPERTY;

(3)   A PARTNER'S RIGHT IN SPECIFIC PARTNERSHIP
PROPERTY IS NOT SUBJECT TO ATTACHMENT OR EXECUTION,
EXCEPT ON A CLAIM AGAINST THE PARTNERSHIP. WHEN
PARTNERSHIP PROPERTY IS ATTACHED FOR A PARTNERSHIP DEBT
THE PARTNERS, OR ANY OF THEM, OR THE REPRESENTATIVE OF A
DECEASED PARTNER, CANNOT CLAIM ANY RIGHT UNDER THE
HOMESTEAD OR EXEMPTION LAWS;

(4)    ON THE DEATH OF A PARTNER HIS RIGHT IN
SPECIFIC PARTNERSHIP PROPERTY VESTS IN THE SURVIVING
PARTNER OR PARTNERS, EXCEPT WHERE THE DECEASED WAS THE
LAST SURVIVING PARTNER, WHEN HIS RIGHT IN SUCH PROPERTY
VESTS IN HIS LEGAL REPRESENTATIVE. THE SURVIVING
PARTNER OR PARTNERS, OR THE LEGAL REPRESENTATIVE OF THE
LAST SURVIVING PARTNER, HAS NO RIGHT TO POSSESS THE
PARTNERSHIP PROPERTY FOR ANY BUT A PARTNERSHIP PURPOSE;
AND

(5)   A PARTNER'S RIGHT IN SPECIFIC PARTNERSHIP