Posted by William Bronchick on March 31, 2000 at 11:52:26:
Under the uniform partnership act, property of the partnership can be held in the name of any partner. Thus, so long as you have a written partnership agreement that spells out what you really are doing (as opposed to how it looks), you should not have a problem. A refinance is not a taxable event by itself, but the property was not originally owned by the partnerhsip, it would be a gain to him. If you intended and could show that the property was contributed to the partnership and the deed transfer was a formality for the purposes of a refi, then it would not be.
You need a creative accountant!