If My Husband and I Own Real Estate in a Partnership with Others and I Want Out, Can We Simply Create a Quitclaim Deed?

A completed Quitclaim Deed signed by all of the listed owners of the current deed could certainly be used to transfer the property ownership as desired.

For such a document see, Standard Legal’s Quitclaim Deeds package.

But transferring the property ownership from both spouses to one would not necessarily change the nature of the ownership within the Partnership.

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How Do Potential Partners Determine the Value of Non-Cash Investment into a Partnership?

The monetary value of each partner’s “sweat equity” or other non-cash contribution to the Partnership can only be determined by the parties involved. The partners must make such a determination through their own internal negotiations. Outside counsel can be consulted to help make a fair determination, but in the end only the potential partners can agree as to what is suitable to their business arrangement.

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Are Two Signatures Required to Validate Purchases or Operation Decisions in a Partnership?

In most circumstances, day-to-day operational matters do not require the signatures of both parties in a Partnership — unless such a two-signature clause is created specifically within the initial Partnership Agreement or as a condition within a specific vendor contract, in advance. See complete details on Standard Legal’s Partnership Agreement legal forms software here.