What if both business partners have a stake in the current website, but desolve their partnership. One partner doesn't want to buy the other out for the value of the website, instead each partner decide to create a website around "her" pages.

How do you set up two new websites but don't lose any of the SEO value of the old website?

Hi Denise, if you want to split up an existing website in to two websites do the following:

1. Keep your old website
2. Create 2 new websites, one for each partner, and transfer the content of the old website to the appropriate new website.
3. Create 301 redirects from the old website pages to the new websites where they are now located.

Google and other search engines will then redirect any user looking for the old page to its new location. Search engines will also transfer whatever SEO value you have built up (they don't do this always perfectly, but adequately.)

Good luck!