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
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Six-mile-wide column of land running north-south in rectangular survey system ...
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Title that can be made null and void or defeated upon the satisfaction of a claim or the completion of some future contingency. ...
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Something that is inferred, but not explicitly stated. The inference may be deducted from the relevant information. ...
An organized group of ethical behavior guidelines governing the day-to-day activities of a profession or organization. ...
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