Immovables Contributed Into Partnership
Effect if immovables are contributed into the partnership.
In Litonjua, Jr. vs. Litonjua, Sr., et al., G.R. No. 166299-300, December 13, 2005, it was once again said that the contract – validating inventory requirement under Article 1773 of the Civil Code applies as long as real property or real rights are initially brought into the partnership. In short, it is really of no moment which of the partners contributed immovables. In context, the more important consideration is that real property was contributed, in which case an inventory of the contributed property duly signed by the parties should be attached to the public instrument, else there is legally no partnership to speak of.