and others
This is a Latin phrase that is short for “et alia.” It means “and others,” and is commonly used in legal documents to reference the family or people involved. Legal documents must list every person involved by using their first and last names one time.
What are the legal rights and obligations afforded by a partnership?
In a partnership, each partner is exposed to personal liability on behalf of each of the other partners. What this means is that if the business, or even an individual partner, is sued or goes into debt, all of the partners are jointly liable and may be forced to pay the defaulting partner’s share.
How are real estate partners taxed as a partnership?
In an LLC, all owners are not personally liable for business debts. Instead, partners may elect to have the company taxes as a corporation or a partnership. Most real estate partners elect to be taxed as a partnership rather than a corporation so that profits are passed directly to partners without further taxation.
What makes a RELP a real estate limited partnership?
According to Investopedia, a RELP is “a limited partnership entity organized to invest in real estate.” A real estate limited partnership is actually a legal entity that will determine how the business runs and is ultimately taxed by the government. Is A REIT A Limited Partnership?
What is the structure of a real estate partnership?
A real estate partnership refers to the business structure between two real estate entrepreneurs who have decided to work together in a professional environment. In its simplest form, a real estate partnership is exactly what it sounds like: two or more people working together in the real estate industry to accomplish a single goal. What Is A RELP?
Is a real estate investment trust a limited partnership?
A real estate investment trust (REIT) is not a limited partnership, though they are treated similarly for taxation purposes. REITs and limited partnerships can both avoid double taxation due to their respective business structures.
