Section 449.8 - Partnership property; definition(Partnership property).
(1) All property originally brought into the partnership stock or subsequently acquired, by purchase or otherwise, on account of the partnership is partnership property;(2) Unless the contrary intention appears, property acquired with partnership funds is partnership property;(3) Any estate in real property may be acquired in the partnership name. Title so acquired can be conveyed only in the partnership name;(4) A conveyance to a partnership in the partnership name, though without words of inheritance, passes the entire estate of the grantor unless a contrary intent appears.1917, Act 72, Eff. 8/10/1917 ;--CL 1929, 9848 ;--CL 1948, 449.8.