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Homework answers / question archive / Even in a Limited Partnership, at least one partner must be a general partner

Even in a Limited Partnership, at least one partner must be a general partner

Accounting

Even in a Limited Partnership, at least one partner must be a general partner. The sole proprietorship is only hard to transfer if the business is the owner, such as a doctor. In my experience, the most complex transfers are partnerships. LLCs that are member managed would be worse, but I have never had to deal with the transfer of one yet.

Why would a partnership be harder to transfer?

pur-new-sol

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