{"identifier":"/us/usc/t26/s752","title":26,"num":"\u00a7\u202f752.","heading":"Treatment of certain liabilities","text":"\u00a7\u202f752.\nTreatment of certain liabilities\n(a)\nIncrease in partner\u2019s liabilities\nAny increase in a partner\u2019s share of the liabilities of a partnership, or any increase in a partner\u2019s individual liabilities by reason of the assumption by such partner of partnership liabilities, shall be considered as a contribution of money by such partner to the partnership.\n(b)\nDecrease in partner\u2019s liabilities\nAny decrease in a partner\u2019s share of the liabilities of a partnership, or any decrease in a partner\u2019s individual liabilities by reason of the assumption by the partnership of such individual liabilities, shall be considered as a distribution of money to the partner by the partnership.\n(c)\nLiability to which property is subject\nFor purposes of this section, a liability to which property is subject shall, to the extent of the fair market value of such property, be considered as a liability of the owner of the property.\n(d)\nSale or exchange of an interest\nIn the case of a sale or exchange of an interest in a partnership, liabilities shall be treated in the same manner as liabilities in connection with the sale or exchange of property not associated with partnerships.","url":"https://projectusc.org/usc/t26/s752.html","content":[{"t":"sec","id":"/us/usc/t26/s752","children":[{"t":"num","text":"\u00a7\u202f752."},{"t":"heading","text":"Treatment of certain liabilities"},{"t":"subsec","id":"/us/usc/t26/s752/a","children":[{"t":"num","text":"(a)"},{"t":"heading","text":"Increase in partner\u2019s liabilities"},{"t":"content","children":[{"t":"p","text":"Any increase in a partner\u2019s share of the liabilities of a partnership, or any increase in a partner\u2019s individual liabilities by reason of the assumption by such partner of partnership liabilities, shall be considered as a contribution of money by such partner to the partnership.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t26/s752/b","children":[{"t":"num","text":"(b)"},{"t":"heading","text":"Decrease in partner\u2019s liabilities"},{"t":"content","children":[{"t":"p","text":"Any decrease in a partner\u2019s share of the liabilities of a partnership, or any decrease in a partner\u2019s individual liabilities by reason of the assumption by the partnership of such individual liabilities, shall be considered as a distribution of money to the partner by the partnership.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t26/s752/c","children":[{"t":"num","text":"(c)"},{"t":"heading","text":"Liability to which property is subject"},{"t":"content","children":[{"t":"p","text":"For purposes of this section, a liability to which property is subject shall, to the extent of the fair market value of such property, be considered as a liability of the owner of the property.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t26/s752/d","children":[{"t":"num","text":"(d)"},{"t":"heading","text":"Sale or exchange of an interest"},{"t":"content","children":[{"t":"p","text":"In the case of a sale or exchange of an interest in a partnership, liabilities shall be treated in the same manner as liabilities in connection with the sale or exchange of property not associated with partnerships.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"text","text":"\n"},{"t":"text","text":"\n"}]}]}