Common use of Joint Ownership of Interests Clause in Contracts

Joint Ownership of Interests. Subject to the other provisions of this Agreement, a Limited Partnership Interest or Unit may be acquired by two or more individuals, who shall, at the time they acquire such Limited Partnership Interest or Unit, indicate to the Partnership whether the Limited Partnership Interest or Unit is being held by them as joint tenants with the right of survivorship, as tenants-in-common or as community property. In the absence of any such designation, they shall be presumed to hold such Limited partnership Interest or Unit as tenants-in-common. Any Consent of the Limited Partners or Units shall require the action or vote of all owners of any such jointly held Limited Partnership Interest or Unit.

Joint Ownership of Interests. Subject to the other provisions of this Agreement, a Limited Partnership Partner Interest or Unit may be acquired by two or more individualsPersons, who shall, at the time they acquire such Limited Partnership Partner Interest or Unit, indicate to the Partnership whether the Limited Partnership Partner Interest or Unit is being held by them as joint tenants with the right of survivorship, as tenants-in-common common, as tenants by the entirety or as community property. In the absence of any such designation, they joint owners shall be presumed to hold such Limited partnership Partner Interest or Unit as tenants-in-common. Any The Consent of the such joint Limited Partners or Units Unit Holders shall not require the action or vote of all owners of any such jointly held Limited Partnership Partner Interest or Unit.

Joint Ownership of Interests. Subject to the other provisions of this Agreement, a Limited Partnership Interest or Unit may be acquired by two or more individuals, who shall, at the time they acquire such Limited Partnership Interest or Unit, indicate to the Partnership whether the Limited Partnership Interest or Unit is being held by them as joint tenants with the right of survivorship, as tenants-in-common or as community property. In the absence of any such designation, they shall be presumed to hold such Limited partnership Partnership Interest or Unit as tenants-in-common. Any Consent of the Limited Partners or Units shall require the action or vote of all owners of any such jointly held Limited Partnership Interest or Unit.