Posted by repro on July 09, 2004 at 11:14:26:
rp
personal judgement against title… - Posted by Sam
Posted by Sam on July 07, 2004 at 12:59:50:
Feb 2004 myself and two others created a Joint Venture (partnership) in FL for the sole purpose of buying, renovating and selling real property, and noting the intent and property details on the JV agreement. Each partner contributed cash into the deal to purchase and renovate.
The Warranty deed to the house lists the grantees’s as follows: John Doe, a married man, John Dee, a married man and John Dont (me), a single man, each as to a one-third (103) interest as tenants in common…
Additionally, the mortage is in the two other partners’ name, not mine.
So we have a partnership agreement and a title with the partners listed individually.
Problem:
I have a judgement against me and the title company wants to pay it out of the proceeds of the sale. Even though the deed states our names individually, it represents the partnership, and should therefore be protected against the judgement.
How do I prove this to the title company??
(FL SS 620.8203: Propery acquired by a partnership is property of the partnership and not of the partners individually.)
(FL SS 620.8204(3):Property is presumed to be partnership property if purchased with partnership assets, evenin if not acquired in the name of the partnership or of one or…)