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A group of knowledgable appraisers and valuation experts will provide a recap of land values and factors that affected land values in 2018 for the Northwest United States, specifically Montana and the Northern Rocky Mountain Region. Presenters will address a range of markets, "from hazelnuts to cattle," in discussing data related to 2018 trends and 2019 expectations.

The 20th Annual Montana Real Estate Roundup will be presented on Wednesday, January 9, 2019 by Norman C. Wheeler and Associates at the Hilton Garden Inn in Bozeman, and is sponsored by Southwest Montana Farm & Ranch Brokers and Northwest Farm Credit Services. There is no cost to attend.

In the first part of our series concerning entity selection for owning real estate, we addressed sole proprietorships and tenants in common. Here we examine the business and tax law considerations concerning partnerships.

General Partnerships

A general partnership is essentially an association of two or more people to carry on a business as co-owners. No written agreement is necessary to have a general partnership. One advantage of the general partnership form of ownership is tax benefits. No taxable event happens at the partnership level. In other words, no double taxation occurs in a general partnership. The usual test the IRS uses to determine if a partnership exists is whether the partners share profits and losses, jointly own the capital and assets, and jointly control and manage the business.

General Partnership Advantages and Disadvantages

Other advantages of general partnerships include the following:

• Each partner can participate in the management of a general partnership.
• Continuity of the general partnership can be established.
• The ownership interest in a general partnership is treated as personalty rather than realty.
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This week, Accruit CEO Brent Abrahm joins fellow business leaders as part of the Colorado Succeeds Education & Business Delegation to California's Bay Area.

Dubbed "The Agility Tour," the trip is an opportunity for Colorado business and community leaders to learn from national experts and visit world-class learning providers in Silicon Valley, where the culture of innovation and entrepreneurism is being successfully integrated into the area's educational ecosystem.

Delegation members will connect with philanthropists, transportation experts and design-thinking specialists supporting education in the area, tour diverse and engaging learning environments, and have the opportunity to visit Apple and Khan Lab School, both of which are driving innovation in education.

Colorado Succeeds is a nonprofit, nonpartisan organization that brings business leaders across the state together to ensure all of Colorado's children are educated to their greatest potential.

Jordan Born, Accruit's associate general counsel, will be a panel speaker in a Careers in Real Estate Law program at The John Marshall Law School in Chicago. During the event, "Let's Taco Bout Real Estate Law," alumni of the LL.M. Real Estate program discussed their career paths and practice in Real Estate Law to both J.D. and LL.M. students. 

"This event is a great opportunity for students to gain insight into various aspects of real estate law and the careers ahead of them," said Born. "I appreciated it when I was a student and enjoy being a part of the discussions with students and other alumni."