§425-111  When property is partnershipproperty.  (a)  Property is partnership property if acquired in the nameof:

(1)  The partnership; or

(2)  One or more partners with an indication in theinstrument transferring title to the property of the person's capacity as apartner or of the existence of a partnership but without an indication of thename of the partnership.

(b)  Property is acquired in the name of thepartnership by a transfer to:

(1)  The partnership in its name; or

(2)  One or more partners in their capacity aspartners in the partnership, if the name of the partnership is indicated in theinstrument transferring title to the property.

(c)  Property is presumed to be partnershipproperty if purchased with partnership assets, even if not acquired in the nameof the partnership or of one or more partners with an indication in theinstrument transferring title to the property of the person's capacity as apartner or of the existence of a partnership.

(d)  Property acquired in the name of one ormore of the partners, without an indication in the instrument transferringtitle to the property of the person's capacity as a partner or of the existenceof a partnership and without use of partnership assets, is presumed to beseparate property, even if used for partnership purposes. [L 1999, c 284, pt of§1]