The individual partnership may be resolved following the exclusion of a partner from the company.
In some cases this occurs by law (e.g. in cases of bankruptcy), while in other cases the exclusion is decided by the other partners, when circumstances envisaged by the law or by the partnership contract occur. Your Notary public will describe such cases to you.
In all the cases examined thus far in which the relationship of a single partner ends as a result of death, withdrawal or exclusion, the latter or his heirs are entitled only to a sum of money representing the value of his/her capital share.
Hence the partner cannot claim any of the assets he had conveyed to the company, even if they are still on the balance sheet of the company, nor can he/she claim return of the assets that had been given to the company for it to use for as long as the it existed, unless otherwise agreed.
The value of the share to be liquidated is determined on the basis of the financial situation of the company as at the date when the relationship terminates.