(1) If a partner retires from the partnership, then their share in the assets of the partnership accrues to the remaining partners. The latter are obliged to return to the retiring partner, subject to the provisions of section 732, the items the retiring partner made available to the partnership for its use and to exempt the retiring partner from joint debts and to pay what the retiring partner would receive in case of winding-up if the partnership had been dissolved at the time of the partner’s retirement. If joint debts are not yet due for repayment, then the remaining partners may provide the retiring partner with security instead of releasing the partner from the corresponding duties.
(2) The value of the assets of the partnership is, to the extent necessary, to be determined by way of an estimate.