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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Money payments to be delayed for a future date or extended over a period of time. ...
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Recurring obligation or assurance given. ...
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A tender has several meanings in everyday discourse. Most generally, tender means a formal offer designed for acceptance with the anticipation of soliciting a response in return. Bidding ...
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Distance from the location of natural ground and water to the actual ground level. ...
Legal obligation to pay taxes associated with owning property or earning income. For example, a real estate owner must pay property taxes. ...
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