To whom must general partners in a real estate limited partnership provide services?

General partners in a real estate limited partnership have a fiduciary duty to provide services to the public. This obligation ensures that they act in the best interest of all stakeholders involved in the partnership, which includes potential investors, clients, and the broader community impacted by their real estate activities. By serving the public, general partners uphold ethical standards and promote transparency and fairness in real estate transactions, which is essential for maintaining trust and credibility in the industry.

The focus on serving the public also enhances the reputation of the partnership and can lead to wider acceptance and success in various projects. It allows general partners to build relationships and networks that can be beneficial in their business endeavors. Therefore, the role of general partners extends well beyond just private clients or specific entities; it encompasses a broader duty to serve and engage with the public.