Assertion: partnership's asset | /r/HasProperty | distributed to partner
Facets:
Source sentences:
text: Liquidation of a partnership generally means that the assets are sold, liabilities are paid, and the remaining cash or other assets are distributed to the partners.
text: If there any assets remaining after all the liabilities are paid off, these assets are distributed to the partners based on their capital accounts.
text: If the proper paperwork isn’t filed with the state of organization, the partnership is still considered a legal entity even if the assets and liabilities have been distributed to the partners.