Assertion: partnership's partner | /r/CapableOf | elect to purchase the interest of the decedent
Facets:
value: in the partnership
type: LOCATION
Source sentences:
text: If the surviving partner elects to purchase the interest of the decedent in the partnership, the purchase price shall be equal to the decedent's capital account as at the date of their death plus the decedent's income account as at the end of the prior fiscal year, increased by their share of partnership profits or decreased by their share of partnership losses for the period from the beginning of the fiscal year in which their death occurred until the end of the calendar month in which their death occurred, and decreased by withdrawals charged to their income account during such period.