A title examiner may presume that property is partnership property when:
- A partnership is named as a grantee in an instrument conveying title to real property or an interest therein;
- One or more individuals are named as a grantee in an instrument conveying title to real property or an interest therein and the instrument indicates that the grantees are partners.
Comment 1. To determine the appropriate person or persons to execute an instrument affecting partnership property see 11 VSA §3222 (Effective Date January 1, 1999) and for prior transactions see 11 VSA §1201 -1209.
Comment 2. A partner may appoint an attorney in fact as to matters affecting only the interest of that partner.
Comment 3. By resolution consistent with the terms of the partnership agreement, the partnership may designate one or more persons, who need not be a partner, to act on behalf of the partnership.
Comment 4. Absent evidence of authority to the contrary, a designated partner, or anyone else acting in an elected or appointive capacity may not appoint an attorney in fact for the purpose of executing a document affecting title to real property.
September 2022: Standard and Comments added.