Va. Code » Title 50. Partnerships » Chapter 2.1. Virginia Revised Uniform Limited Partnership Act » Article 7. Assignment of Partnership Interests
Virginia Code

Va. Code Ann. § 50-73.45 (2026)

Assignment of partnership interest

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Except as provided in the partnership agreement, a partnership interest is assignable in whole or in part. An assignment of a partnership interest does not dissolve a limited partnership or entitle the assignee to become or to exercise any rights of a partner. An assignment entitles the assignee to receive, to the extent assigned, only the distribution to which the assignor would be entitled. Except as provided in the partnership agreement, a partner ceases to be a partner upon assignment of all his partnership interest.

1985, c. 607.

Notes of Decisions
Cited in 2 cases, 2001–2010 · leading case: Friedberg v. Hague Park Apts., 61 Va. Cir. 589 (Va. Cir. Ct. 2001).
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Friedberg v. Hague Park Apts., 61 Va. Cir. 589 (Va. Cir. Ct. 2001). · cites it 2× “Code of Virginia § 50-73.45. The Code never requires a party acquiring limited partnership interests to give notice to other partners not involved in the transaction, nor does Friedberg cite any authority that would impose such a requirement.”
Smith v. Smith, 81 Va. Cir. 135 (Fairfax Cir. Ct. 2010). · cites it 8× “Va. Code § 50-73.45. In 2003, Mrs. Smith orally assigned her entire partnership interest, both general and limited, to the Trust.”
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