Question: Two friends in a limited partnership ( LP ) start getting into disagreements on how to manage a rental property that the partnership owns. One
Two friends in a limited partnership LP start getting into disagreements on how to manage a rental property that the partnership owns. One partner who owns wants to spend lots of money improving the building so it will rent for a higher amount, and the other partner which owns has no additional money and does not want to borrow some from a bank. Can the second partner force the other partner to disfolve the partnership and sell the property?
No because the second partner holds a minority interest of only in the partnership
No because one partner wants to continue running the business
No because LP owns the property, not either of the individual partners
No because only the partner that has in the partnership can dissolve the LP
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