<div dir="auto" style="direction: ltr; margin: 0; padding: 0; font-family: sans-serif; font-size: 11pt; color: black; ">Rich, I had occasion to research this not too long ago. It seemed fairly clear that you can't have a one person partnership, period.<br>
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<div dir="auto" style="direction: ltr; margin: 0; padding: 0; font-family: sans-serif; font-size: 11pt; color: black; ">The provision permitting a partner to be both general and limited would not, I think, take precedence over the previous conclusion, though I have not looked at that.<br>
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<div dir="auto" style="direction: ltr; margin: 0; padding: 0; font-family: sans-serif; font-size: 11pt; color: black; ">Perhaps it's feasible to transfer the property to a single member LLC (REET issue?) or do a conversion?<br>
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<div dir="auto" style="direction: ltr; margin: 0; padding: 0; font-family: sans-serif; font-size: 11pt; color: black; ">Bob Pampell<br>
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<br><hr style="display:inline-block;width:98%" tabindex="-1"><div id="divRplyFwdMsg"><strong>From:</strong> Rich Holland <rich@pnwle.com><br><strong>Sent:</strong> Thursday, January 30, 2020, 11:54 AM<br><strong>To:</strong> WSBA Real Property Listserv<br><strong>Subject:</strong> [WSBARP] LLPs (sort of RE related)<br></div><br><html xmlns="http://www.w3.org/TR/REC-html40"><head>
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<p>LLP owns two lots (A&B) and has two partners. Mutually, one partner wants to leave the LLP and develop Lot B himself. Remaining partner wants to develop Lot A still with the LLP. Now my immediate reaction was that such an action would
lead to a dissolution of the partnership as you can’t have a partnership with just one partner. However, I was reading RCW 25.10 (the Uniform Partnership Act adopted by WA) and 25.10.111 is about “Dual Capacity” stating that “a person may be both a general
partner and a limited partner”. Setting aside that I find that nonsensical, has anyone run into cases where an LLP is just one individual acting with such a dual capacity? And, even if we presume that one can, is there any way around the fact that the departure
of even a limited partner technically requires a dissolution of the LLP?</p>
<p> </p>
<p>Again, this isn’t specifically real estate, but with the nature of developing real estate I was hoping there was someone who might have run into a similar situation before.</p>
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<p>Sincerely,</p>
<p> </p>
<p>Richard L. Holland</p>
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