Partnership exits without selling property

[Raman Bindlish]

I am looking for some guidance on what are the exit options for one partner without selling the property. 

Basics - Property owned in California - joint tenant title. Both partners on the loan as well. It is a duplex rented out on both sides to tenants with 6months lease remaining.

Question:

- If one partner wants to exit, and other partner wants to buy it out, does it go through a full sale process? Is there an easier way to limit costs or paperwork?

- For bank, will they have to issue a new loan or one of the borrower can assume the loan?

Thanks

Raman