Steve Holmes and his son Mike were partners in a construction business. Steve also owned a ranch, which he contributed to the partnership, even though Steve was still listed as the owner of record. Steve learned of a low-interest loan available for the purchase of property from a parent. Solely to obtain the benefits of the low-interest loan, Steve deeded the ranch to Mike. No money exchanged hands, however, and Mike never paid Steve or the partnership for the ranch. The transfer was not treated as a sale on Steve's or Mike's books, Mike did not claim ranch income as his own, and there were no changes in ranch operation. When Steve and Mike had disagreements, Steve asked a court to dissolve the partnership and to distribute its assets. Was the ranch an asset of the partnership or Mike?