Adjustment of Tax Basis. Upon the transfer of an interest in the Partnership, the Partnership may, at the sole discretion of the General Partners, elect pursuant to Section 754 of the Internal Revenue Code of 1986, as amended, to adjust the basis of the Partnership property as allowed by Sections 734(b) and 743(b) thereof.
Appears in 10 contracts
Samples: Limited Partnership Agreement (Redwood Mortgage Investors Viii), Limited Partnership Agreement (Redwood Mortgage Investors Viii), Limited Partnership Agreement (Redwood Mortgage Investors Viii)
