# Limited Partner

> Limited Partner organizes who contributes capital, who controls it, and who receives return

| Field | Value |
|---|---|
| Stable ID | `node:kiduna:real-estate-mortgage:investment-capital:limited-partner` |
| Family | Investment & Capital |
| Domain | Economics |
| Era | Institutional Age → Agentic Age |
| Kind | concept |
| Archetype | The Field |
| Claim layers | empirical, cultural_historical, synthesis, interpretive, symbolic_divinatory |

## What it is

Limited Partner is a concept in the Investment & Capital family, defined here by the function it performs in the property system rather than by label alone.

## What it actually does

Limited Partner organizes who contributes capital, who controls it, and who receives return.

## Why it exists

It exists because place is unique and immovable while law, capital, information, and human lives must still coordinate around it across time.

## System mechanics

- **Who uses it:** owner, occupant, buyer, seller, lender, investor, steward, regulator
- **Incentives:** access, certainty, control, value, continuity
- **Inputs:** place, people, records, rules, resources, time
- **Outputs:** rights, constraints, uses, relationships, consequences
- **Dependencies:** Land, Authority, Information, Capital, Time

## Archetypal reading

- **Essence:** Limited Partner organizes who contributes capital, who controls it, and who receives return
- **Gift:** Clarity about limited partner makes a hidden allocation of place, time, authority, value, or risk available for deliberate choice.
- **Wound / Shadow:** When limited partner is treated as neutral or inevitable, its costs can be shifted to people who hold less information, authority, liquidity, or mobility.
- **Failure mode:** The failure mode appears when limited partner is stale, opaque, mispriced, misrecorded, overextended, or applied outside the conditions that made it useful.

## Lenses

- **Personal:** Notice where limited partner appears as a structure in your own commitments: what is held, promised, priced, protected, excluded, or deferred?
- **Business:** Limited Partner reveals a handoff among information, authority, incentives, operating work, and capital. Make the owner of each handoff explicit.
- **Financial:** Limited Partner changes the timing, priority, comparability, liquidity, or distribution of cash flow and risk.
- **Property:** Limited Partner changes how a physical place can be used, valued, financed, transferred, occupied, maintained, or reclaimed.
- **Community:** Limited Partner can create benefits inside one parcel while exporting costs or opportunity to neighbors, institutions, or future residents.

## Divination

The Field enters the reading through Limited Partner. The issue is not only what is visible; it is which map of ownership, time, risk, authority, or belonging currently governs the situation.

**Question:** What changes when Limited Partner becomes the unit of analysis?

**Guidance:** Shift scale, clock, stakeholder, boundary, and claim layer before choosing a move.

## Game function

Creates a graph move that changes the active map. Initiative 4.

## Relationships

- **Wind Insurance externalizes to Limited Partner.** Wind Insurance externalizes to Limited Partner through a change in rights, information, cash flow, priority, timing, or physical use.
- **General Partner transfers into Limited Partner.** General Partner transfers into Limited Partner through a change in rights, information, cash flow, priority, timing, or physical use.
- **Limited Partner is governed by Sponsor.** Limited Partner is governed by Sponsor through a change in rights, information, cash flow, priority, timing, or physical use.
- **Limited Partner amplifies Broker.** Limited Partner amplifies Broker through a change in rights, information, cash flow, priority, timing, or physical use.

## Oppositions

- Use Value versus Exchange Value
- Speed versus Diligence

## Historical lineage and regulatory context

Read Limited Partner through the lineage of Investment & Capital: earlier customary or local arrangements became recorded, standardized, financed, regulated, digitized, or contested over time.

Rules vary by jurisdiction and transaction. Use the cited primary sources as starting points and verify current local law, program guides, contracts, and professional standards before operational use.

## Visual direction

Text-free rounded-square enamel artifact for Limited Partner: one dominant symbolic mechanism with a restrained secondary counterforce; vitreous midnight enamel, blackened steel, warm brass, copper accents, mortgage-paper cream, deep green, slate, and sky blue.

## Engine output / Sentinel handoff

The generative interpretation above is preserved as Engine Output. Sentinel factors: jurisdiction-specific rules, factual uncertainty, financial risk. These factors request contextual review; they do not delete or silently rewrite the candidate.

## Research / provenance

- [Dodd-Frank Act Rulemaking: Asset-Backed Securities](https://www.sec.gov/spotlight/dodd-frank/assetbackedsecurities.shtml) — U.S. Securities and Exchange Commission; ABS and RMBS securitization, tranching, disclosure.
- [Comptroller's Handbook — Commercial Real Estate Lending](https://www.occ.gov/publications-and-resources/publications/comptrollers-handbook/files/commercial-real-estate-lending/pub-ch-commercial-real-estate.pdf) — Office of the Comptroller of the Currency; CRE lending, DSCR, debt yield, cap rate, valuation, risk.
