76 Ala. 593 | Ala. | 1884
— The deed to Stoudenmeier & Co. vested the legal title in the several members of the firm as tenants in common, and not in the name of the partnei'ship as such. Its legal effect was the same as if the deed had been made to the three partners in their individual names. Each partner became seized of an undivided third part of the land, subject, so far as the powers of a court of law can be exerted, to all the incidents of real estate held in common. — Code of 1876, § 2191. In equity, a different rule prevails. If lands are purchased with partnership effects, and are needed for the payment of partnership debts, or to equalize the interests of the several partners, equity will convert them into personalty, with all the incidents of personal property. — Espy v. Comer, ante, p. 501, and authorities cited; Caldwell v. Parmer, 56 Ala. 405 ; Lang v. Waring, 25 Ala. 625 ; Parsons on Part. 571-2.
According to the undisputed facts in this case, the firm of
Reversed and remanded.