If a limited partner withdraws, sells his ownership in the partnership, or dies, the partnership is not forced into dissolution.

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Limited partners are not generally involved in the day-to-day management of the partnership, and their withdrawal or departure typically does not trigger partnership dissolution. The partnership agreement may include provisions for the transfer or sale of a limited partner's ownership interest in the partnership or for the admission of additional limited partners to replace the departing partner.

If a Limited Partner Withdraws, Sells His Ownership in the Partnership