• Shared ownership among two or more individuals, some of whom may, but do not necessarily, have limited liability. See: general partnership, limited partnership, and master limited partnership.

• A business owned by two or more people and operated for profit.

 Embedded terms in definition
 General partnership
General partner
Limited liability
Limited partnership
Limited partner
Master limited partnership
 Referenced Terms
 Blind pool: Is a limited Partnership financing vehicle. The exact assets to be invested in are not specified or known.

 General partner: A partner who has unlimited liability for the obligations of the Partnership.

 General partnership: A Partnership in which all partners are general partners.

 Joint venture: A Partnership under which the participants have contractually agreed to contribute specified amounts of money and expertise in exchange for stated proportions of ownership and profit.

 Limited partner: A partner who has limited legal liability for the obligations of the Partnership.

 Related Terms
 General partnership
Limited partnership
Master limited partnership
Partnership agreement
Real estate limited partnership

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Tips for Trying to Fix a Clogged or "Frozen" Home Equity Line: For years, homeowners have turned to home equity lines of credit (HELOCs) as a way to borrow against their home's value to pay for college tuition, home improvements, medical bills and other major expenses. (A home's equity is the market value minus what is owed on the mortgage. If you owe $100,000 on your mortgage but your home is worth $250,000, your equity is $150,000.) More...

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