Limited Partnership
Definition of "Limited partnership"
A business in which one or more person, with unlimited liability, called general partners, manage the partnership. There are also limited partners who contribute capital, but do not manage the operations nor do they have liability for partnership debts exceeding their capital balances. Limited partnership are popular in real estate because of advantageous tax aspects in which double taxation of income is avoided. There also exist pass-through of losses from the partnership tax return (Form 1065) to the individual's tax return (Form 1040).
Popular Real Estate Terms
Decline in the credit status of a prospective homebuyer. ...
Dry ravine formed by water runoff. ...
How much of an investment made in real estate has been recovered expressed in dollars or in percentage terms. ...
Residential structure designed to house more than one family. Smaller multifamily housing units include duplexes, triplexes, and quadriplexes. Larger multifamily housing is normally termed ...
Fibrous, fire-proofing material that was used in buildings and homes for insulation. ...
fee to use a bridge or tunnel. Fee assessed to use someone else's property. ...
Circumstance where no people or contents occupy or are kept in a building for at least 60 consecutive days. The same stipulations apply to property coverages as found in unoccupancy. ...
One-time charge assessed by a bank or other financial institution at the closing of buying real property. The fee increases the effective cost to the borrower. One discount point translates ...
Guarantee by a seller to a buyer to satisfy, for a specified time period, problems in the quality or performance of items within the home. There is usually no additional charge during the ...
Have a question or comment?
We're here to help.