google bot detected Family Limited Partnership | Insurance Glossary | Realestateagent.com

Family Limited Partnership


Definition of "Family limited partnership"

Partnership in which family members hold all interest in the partnership. This partnership is treated as a cash flow through stand-alone entity. All sums of income and credits, as well as deductions, flow through the partnership to the partners on a pro rata basis. The partners report their pro rata share on their individual personal income tax returns.



Related Real Estate Glossary terms

Related Real Estate FAQ