Accolades Apartments LP v. Fulton County

A Statement of Partnership filed with the state is conclusive as to the existence of a partnership.

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This case asks us to decide whether an entity that publicly files a “statement of partnership” pursuant to OCGA § 14-8-10.1 has elected to become a partnership. The Court of Appeals held that the filing of a statement of partnership provides only “some evidence” that a partnership exists.1 On remand, the trial court applied this standard and found that no partnership was formed in the present case. The Court of Appeals affirmed.2 We granted certiorari, and now hold that the filing of a statement of partnership is conclusive evidence that a partnership exists. Accordingly, we reverse. This is the second time this case has been before this Court.3 The entity at issue is Accolades Apartments Joint Venture AAJV, which was owned by Consolidated Equities Corporation CEC and John Hancock Mutual Insurance Company. AAJV owned real property the Property that was later transferred to appellant Accolades Apartments, L.P. The Property was subsequently condemned by appellee Fulton County, which paid $200,000 into the superior court’s registry as condemnation proceeds. Appellant made a motion to disburse these funds, as did others including appellee Coyote Portfolio, LLC, which holds a judgment lien against CEC entered at the time AAJV owned the Property.

The ultimate issue is the proper disbursal of the condemnation proceeds. As we stated in our first opinion, if “a ‘joint venture’ is in actuality a partnership . . . real property acquired in the name of the ‘joint venture’ will be considered partnership property . . . . Partnership property is not subject to execution by the judgement creditor of an individual partner.”4 Therefore, if AAJV was a partnership, then the Property was partnership property and could not be used to satisfy Coyote’s lien against CEC.

Accolades Apartments LP v. Fulton County

A Statement of Partnership filed with the state is conclusive as to the existence of a partnership.

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