Gwinner v. Union Trust Co.

Citations

• 226 Pa. 614
• 75 A. 856
• 1910 Pa. LEXIS 828

Syllabus

<p>Partnership — Partnership real estate — Deed—Dealing in land.</p> <p>1. While it is true that a partnership may exist for the purpose of purchasing a tract of land and selling it out in lots, the land will not take the form of partnership property, except as between the partners, unless the deed or some other writing of record gives notice of that fact.</p> <p>2. Where two persons purchase land under a secret agreement to divide it into lots and to apply the proceeds from the sale of lots in a particular manner, and the property is taken in the name of one of the persons only, the creditors of the grantee named in the deed have a right to rely upon what is there shown and consider it as his individual property.</p>