What type of partnership can acquire and convey real property in the partnership name?

A general partnership is a business structure where two or more individuals agree to share the profits and liabilities of a business. One of the key characteristics of a general partnership is that it is recognized as a legal entity that can conduct business activities in its own name, which includes the ability to acquire and convey real property under that partnership name. Each partner typically has equal management rights and shares in the profits and losses of the partnership, and this structure is advantageous for real estate transactions because it provides a straightforward path for property ownership.

In contrast, limited partnerships, private partnerships, and joint ventures either do not possess the same level of authority or have specific requirements and limitations on property ownership. Limited partnerships typically consist of one or more general partners who manage the business and limited partners who do not have a say in the day-to-day operations and whose liability is limited to their invested capital. Private partnerships may not have specific legal standing compared to general partnerships, while joint ventures are usually formed for a specific project or period and may not have the capacity to hold property in the same manner as a general partnership can. Hence, the correct choice underscores the general partnership's broad ability to engage in property transactions directly in the partnership's name.