{"data":{"id":"us-ky/krs-362.1-302","jurisdiction":"us-ky","citation":"KRS 362.1-302","heading":"Transfer of partnership property.","body":"(1) Partnership property may be transferred as follows:\n(a) Subject to the effect of a statement of partnership authority under KRS 362.1 -\n303, partnership property held in the name of the partnership may be\ntransferred by an instrument of transfer executed by a partner in the\npartnership name.\n(b) Partnership property held in the name of one (1) or more partners with an\nindication in the instrument transferring the property to them of their capacity\nas partners or of the existence of a partnership, but without an indication of\nthe name of the partnership, may be transferred by an instrument of transfer\nexecuted by the persons in whose name the property is held.\n(c) Partnership property held in the name of one (1) or more persons other than\nthe partnership, witho ut an indication in the instrument transferring the\nproperty to them of their capacity as partners or of the existence of a\npartnership, may be transferred by an instrument of transfer executed by the\npersons in whose name the property is held.\n(2) A partnership may recover partnership property from a transferee only if it proves\nthat execution of the instrument of initial transfer did not bind the partnership under\nKRS 362.1-301 and:\n(a) As to a subsequent transferee who gave value for property transferred  under\nsubsection (1)(a) or (b) of this section, proves that the subsequent transferee\nhad notice that the person who executed the instrument of initial transfer\nlacked authority to bind the partnership; or\n(b) As to a transferee who gave value for propert y transferred under subsection\n(1)(c) of this section, proves that the transferee had notice that the property\nwas partnership property and that the person who executed the instrument of\ninitial transfer lacked authority to bind the partnership.\n(3) A partnership shall not recover partnership property from a subsequent transferee if\nthe partnership would not have been entitled to recover the property, under\nsubsection (2) of this section, from any earlier transferee of the property.\n(4) If a person holds all of the partners' interests in the partnership, all of the partnership\nproperty vests in that person. The person may execute a document in the name of\nthe partnership to evidence vesting of the property in that person and may file or\nrecord the document.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=34478","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:57Z","sha256":"6fd2d6ee549bb1ececcdb092369cb0dae0be7f4cff950f6b22bae5175d3051a0","source_id":"us-ky","stale":false,"prev":"us-ky/krs-362.1-301","next":"us-ky/krs-362.1-303"},"notice":"GroundRules: Original legal text. Not legal advice."}