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You are correct that when the partnership is buying the interest of a partner generally there will not be any allocation of the depreciation previously claimed. There are some exceptions (as is almost always the case with tax treatment) such as some cases when the partner had contributed the property to the partnership; but that does not seem to apply in your case.
When the partnership disposes of the depreciated property there often will be pass through of the character of the sale to each of the partners at the time of disposition of the property so timing of events can be important for determining what is or is not a part of the final K-1 for the partner that liquidates their interest.
I hope this helps to confirm that you are correct in your idea of how the sale of the property is an item of partnership income and is not part of the liquidation of a partnership interest.