My partner is currently buying me out of a townhouse that we own free and clear. Are there any tax implications for the seller or buyer in this scenario?

It would depend on if you make any money off of it. Then yes there would be some tax consequences if you do not put it right back into a house. Have you browsed through the information in LawInfo's Free Legal Resource Center to learn more about your issue yet? See: http://www.lawinfo.com/consumer.html. You can certainly try to speak to a lawyer to determine what legal options may be available. In the meantime, you may be able to learn more on your own. Search the "Free Legal Resources" tab, or browse the Consumer Resources. Good luck.