This type of partnership invests funds into small warehouses. They then lease the available space available at a monthly rate to other entities. Partner percentage is the rate of division of any income from the space leasing. Should the business go under or be liquidated, only the general partner has claims to the space. The general partner retains all associated funds from the warehouse’s sale as long as all outstanding obligations with other partners have been met.
Link to This DefinitionDid you find this definition of MINI-WAREHOUSE LIMITED PARTNERSHIP helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary