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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Financial statement with amounts or other information that are completely or partially assumed. The assumptions supporting the amounts are usually provided. The statement may be prepared in ...
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Principle stating that all joint tenants must acquire their interest from the same deed or will. ...
Agreement by a lender to lend money to a borrower. A loan commitment typically includes the amount of money to be lent, the interest rate, and the period of the loan. ...
New cost less accumulated depreciation to date. ...
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Past action of a property owner or tenant. ...
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