(redirected from Partnership Property)
Also found in: Dictionary, Thesaurus, Legal, Financial, Encyclopedia.


A nonspecific term for a relationship which strives for balance, equality and mutual respect, and in which information, power and responsibility are shared by two or more actual or legal persons.

An NHS management word used in the context of a Trust’s achievement of Practice Plus on the journey to becoming a Model Employer. Partnership is essential, both internally (in relationships developed with staff-side colleagues) and externally (when working across organisations (trusts)), or when collaborating across strategic health authority boundaries.

Accountable health partnership, see there.


n 1. the association of two or more persons for the purpose of carrying on business (or practice) together and dividing its profits.
n 2. a legal, binding contract defining the association of two or more persons in a business or professional relationship such as a dental practice.
partnership, notice of dissolution of intelligence,
n by any of a variety of means, notice to creditors and the public that a partnership has been dissolved.
References in periodicals archive ?
Significantly, a partnership is not required to adjust the basis of partnership property until it has been notified of the transfer.
If, in a subsequent year, the transferee provides the applicable written notice to the partnership, the partnership must make such adjustments as are necessary to adjust the basis of partnership property (as of the date of transfer).
information concerning the value of partnership property at the time of a prior transfer of a partnership interest) might be a challenge.
743-1 (a) provides that the basis of partnership property is adjusted as a result of the transfer of an interest in the partnership.
743-l(j)(l) suggests that the adjustment has no effect on the common basis of the partnership property.
B's basis in the partnership property deemed distributed would be the $5,000 basis of B's partnership interest immediately before the distribution, reduced by the amount of money, if any, received in the distribution ($0), or $5,000.
22) For example, if an exiting partner receives a lump-sum amount for her interest in partnership property plus a percentage of the entity's net income for some years after retirement, the payments based on net income are treated as a distributive share of partnership income.
Under ACJA provisions, ABC has to adjust D's basis in the partnership property under Sec.
743(b) rule: Under AJCA Section 833, an electing investment partnership is not treated as having a substantial BIL and, thus, is not required to make basis adjustments to partnership property when a partnership interest is transferred.
743(b) and 734(b) rules: AJCA Section 833 treats a securitization partnership as not having a substantial BIL or a substantial basis reduction; thus, such a partnership is not required to make basis adjustments to partnership property if a partnership interest is transferred or property is distributed to a partner.
736(b) payments are payments made to the retiring or deceased partner's successor in exchange for the retiring partner's interest in partnership property.

Full browser ?