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A Parasha & Halacha Shiur by Rabbi Chaim Naftali
Dissolving a partnership via Gud on Iggud
In order to split a partnership there must be a sizeable enough share left for each individual partner. For example, if they own a joint courtyard and want to split it, each of the partners must receive a share that can still be considered a courtyard.
If this is not the case, the Halacha is that one partner can offer to be bought by or buy his partner’s share out – Gud Oh Iggud. L’Halacha, this offer must be made in a Bet Din. This offer is not subject to the rules of Ona’ah (as one of the Aharonim suggests) because that is the nature of the deal.
The Rishonim have a debate when one partner has a large share – which can withstand a division – and the other has a small share, if the one with the smaller share can initiate a buyout offer and to what extent (maybe just to increase his share to a sizeable share).