In a permission-based partnership [as defined in Ruling 2160], if all the partners withdraw the consent they gave each other for them to have disposal over their property, then none of them can have disposal over the partnership property. If one of them withdraws his consent, then the other partners do not have right of disposal. However, the one who withdraws his consent can have disposal over the partnership property. In each case, their partnership with respect to the capital remains in place.
Ruling 2166.* In an exchange-based partnership, a period must be specified, and it is necessary that the partnership continue until the end of the period.
If the partnership is a permission-based one, it is not necessary that a period be specified, and whenever one of the partners requests that the partnership capital be divided, the others must accept his request even if a period has been specified for the partnership unless dividing it would require some of the partners to spend money, or it would result in a significant loss for the partners.