OTS 3.5

3.5 CONVEYANCES-PARTNERSHIP

Problem A:


What should be required to show the authority of partners to execute conveyances on behalf of the partnership?


Standard A:


A conveyance from a partnership holding the title is sufficient if it recites that the partners executing it are all the partners, in the absence of information to the contrary.  When it does not appear that all the partners executed the conveyance, satisfactory evidence of authority, such as a resolution or a certified copy of a Statement of Partnership Authority pursuant to 1776.33(D)(2), should be required.   Any such evidence of authority should be signed by all the partners in order to be considered satisfactory.


Authority of the partner or partners executing the conveyance should be presumed after it has been of record for five years.


(Effective as amended April 28, 2017, originally effective November 1, 1952)

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