Partnerships Act

19. Land acquired out of partnership profits.

Edition: 2022-12-31 · In force

19. Land acquired out of partnership profits.

Where co-owners of an estate or interest in any land, not being itself partnership property, are partners with regard to profits made by the use of that land or estate, and purchase other land or estate out of the profits to be used in the same manner, the land or estate so purchased—

(a)is co-owned by the partners in the same manner as the original land was co-owned by them at the date of the acquisition; and

(b)is not, in the absence of an agreement to the contrary, partnership property.

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Source: Kenya Law