What should be included in a buyout agreement? A Partnership Buyout occurs when a director purchases the shares of a partner with the goal of dissolving the partnership.In most cases, the terms and conditions of a partner buyout are documented in the partnership agreement created when the Partnership is formed. Establishing a buysell agreement reduces future conflict. The structure and terms should align with your buyout goals. If you're planning a buyout, getting a buyout agreement in place is essential. But how do they work exactly? The agreement should include complete and up- to-date financial statements, showing the partnership's assets, liabilities, and financial performance. This book has a fillintheblank buyout agreement and instructions on how to incorporate it into your partnership agreement.