Neither UPA Section 8(1) nor RUPA Section 203 provides any guidance concerning when property is "acquired by" the partnership. That problem is dealt with in Section 204.

UPA Sections 25(2)(c) and (e) also provide that partnership property is not subject to exemptions, allowances, or rights of a partner's spouse, heirs, or next of kin. Those provisions have been omitted as unnecessary. No substantive change is intended. Those exemptions and rights inure to the property of the partners, and not to partnership property.

§1024.__When property is partnership property

1.__Partnership property.__Property is partnership property if acquired in the name of:

A.__The partnership; or

B.__One or more partners with an indication in the instrument transferring title to the property of the person's capacity as a partner or of the existence of a partnership but without an indication of the name of the partnership.

2.__Property acquired by partnership.__Property is acquired in the name of the partnership by a transfer to:

A.__The partnership in its name; or

B.__One or more partners in their capacity as partners in the partnership, if the name of the partnership is indicated in the instrument transferring title to the property.

3.__Presumed to be partnership property.__Property is presumed to be partnership property if purchased with partnership assets, even if not acquired in the name of the partnership or of one or more partners with an indication in the instrument transferring title to the property of the person's capacity as a partner or of the existence of a partnership.

4.__Presumed to be separate property.__Property acquired in the name of one or more of the partners, without an indication in the instrument transferring title to the property of the person's