COMMENT

Note to Uniform Partnership Act This section describes the partner's interest in the partnership entity, as distinguished from his interest in specific partnership property.

Prior Georgia Law There was no comparable provision. As is discussed in the Comment to § 14-8-25, prior Georgia law recognized that a partner's interest was in the partnership entity rather than in specific partnership property with respect to assignability, the rights of creditors of individual partners to reach partnership property, and the application of the year's support provision. However, prior O.C.G.A. § 14-8-48 was inconsistent with this section in providing that partnership real estate is considered personal property in equity only to the extent necessary to pay debts.

Official UPA This section is the same as the official version.

Cross-References Partner's right to share in the profits and surplus: §§ 14-8-18(1) and14-8-40(1)-(3). Definition and description of a partner's interest in specific partnership property: § 14-8-25.

JUDICIAL DECISIONS

Profits means net, and not gross, income. Arford v. Blalock, 199 Ga. App. 434, 405 S.E.2d 698, cert. denied, 199 Ga. App. 906, 405 S.E.2d 698 (1991), aff'd sub nom., Wilensky v. Blalock, 262 Ga. 95, 414 S.E.2d 1 (1992), overruled on other grounds Jordan v. Moses, 291 Ga. 39, 727 S.E.2d 460 (2012).

RESEARCH REFERENCES