Which right is not available to an assignee of a limited partner?

Which right is not available to an assignee of a limited partner?

• A. The return of the assignor's contribution.
• B. The inspection of partnership book or account of partnership transactions.
• C. The receipt of the assignor's share of the profits.
• D. The receipt of the assignor's other compensation by way of income.

Answer: (B)

Understanding what transfers with an assignment of a limited partner’s interest is key. An assignee picks up the economic rights tied to that interest—the right to share in profits and to receive distributions, and, subject to the partnership terms, a return of contributed capital through distributions or upon liquidation. But the right to inspect the partnership’s books and accounts is a governance/information right that belongs to partners (or those admitted as partners) and is not automatically granted to an assignee who hasn’t become a partner. Since the assignee hasn’t been granted partner status, they don’t have automatic access to the partnership’s internal financial records. That’s why inspecting the partnership books is not available to an assignee.

Understanding what transfers with an assignment of a limited partner’s interest is key. An assignee picks up the economic rights tied to that interest—the right to share in profits and to receive distributions, and, subject to the partnership terms, a return of contributed capital through distributions or upon liquidation. But the right to inspect the partnership’s books and accounts is a governance/information right that belongs to partners (or those admitted as partners) and is not automatically granted to an assignee who hasn’t become a partner. Since the assignee hasn’t been granted partner status, they don’t have automatic access to the partnership’s internal financial records. That’s why inspecting the partnership books is not available to an assignee.