If it is a going business concern the court will dissolve the partnership, and require the business to be woundup. This include the distribution/sale of assets, and the payment of all liabilities. You may consider trying to find a different partner to purchase the existing partners share.
If it is just real property, a judge can order the property divided if that is possible or put up for sale.
If you found this answer informational please press the ACCEPT button so I can get credit for my work.
All comments are provided for informational purposes only. A local attorney should be contacted for specific legal advice.
The court will order the business wound up. You will need to restart the business on your own afterward.
It takes however long it takes. The property will be put up for sale and when it sells it sells. The partnership will not be completely wound up until the sael is compmlete and a final distribution made. The other matters are simply accounting, and distrbution of the assets.
Attorney
OH/TX Practicing Attorney focusing on Family Law, Foreclosure, Landlord-Tenant Issues.