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We have a client property, Father & 2 sons were holding

Customer Question
We have a client...

We have a client property,

Lawyer's Assistant: What state are you in? It matters because laws vary by location.

Father & 2 sons were holding title in California Limited Partnership. From my understanding in California under Corporations code this would make this a Joint Tenancy. Under Joint Tenancy title would convey to the remainder 2 partners. I need a letter from an attorney to our Stanislaus County Recorder/ assessor to this fact.

Lawyer's Assistant: Has any paperwork been filed?

No I am Broker I usually do the filings, but this time I need an Attorney's letter to clarify this matter

Submitted: 8 months ago.Category: Legal
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Answered in 2 hours by:
9/11/2017
Lawyer: Irwin Law, Attorney replied 8 months ago
Irwin Law
Irwin Law, Attorney
Category: Legal
Satisfied Customers: 7,559
Experience: Lawyer & Real Estate Broker, 30+ years, foreclosure, land contracts, inheritance, probate.
Verified

From my understanding in California under Corporations code this would make this a Joint Tenancy.

Do you have a CA Corp Code section to support that understanding? IMO, if the title is in the name of a Limited Partnership, and one partner dies, the deceased partner's share would pass according to the terms of the partnership agreement. Failing that, it would pass to his estate and his heirs. Besides that, I can't imagine anyone, especially a County Recorder accepting a letter from an attorney explaining how title to property has passed as a matter of law. But bringing a local real estate attorney in at this point is an excellent idea.

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Lawyer: Irwin Law, Attorney replied 8 months ago

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Customer reply replied 8 months ago
I believe the Statues and codes are listed below that verify and LP is a Joint Tenancy in California. Combined with LP Bylaws which state the same.We have an ingnorant Clerk assitant that thinks she is an attorney and knows it all. This is why I need a letter to this affect.2007 California Corporations Code Chapter 2. Uniform Limited Partnership Act
CA Codes (corp:15501-15534)CORPORATIONS CODESECTION 15501-15534
Lawyer: Irwin Law, Attorney replied 8 months ago

the following section of the code is what applies when the general partner has died:

15520.5. If the partnership is formed on or after November 1, 1973, or if the partnership is formed prior to that date and amends its certificate to specifically elect to be governed by this Section 15520.5 rather than Section 15520, the following provision shall apply: The retirement, death or insanity of a general partner dissolves the partnership, unless the business is continued by the remaining general partners (a) Under a right so to do stated in the certificate, or (b) With the consent of all members.

This says nothing about how partnership real estate is held, or what happens to it on dissolution; however, whatever is the case, I am not permitted by our rules to write the kind of letter that you are asking for. That would constitute practicing law in CA.

I don't know the details of what is actually going on. If I can help with any other information, please don't hesitate to send me a reply.

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