Real Estate Limited Partnership

First, it’s important to understand what a limited partnership is: a business entity in which the limited partners plays a limited role in the organization’s operations, and have limited liability when confronted with losses. A real estate limited partnership (RELP) is normally comprised of a general partner, usually a seasoned property manager or real estate development firm, and outside investors whose role, of course, is to provide financing, and as limited partners, to receive a share of ownership as limited partners.

Please note: it is always prudent to consult your CPA about issues of tax liability and your legal advisor for any real estate venture.