Buyout Agreement: A legal document that outlines the terms and conditions of a transaction in which one party purchases a stake in a business from the other. Download the Real Estate Buyout Agreement template. 2.Fill in the relevant details such as buyer, seller, and property information. A properly prepared tenant buyout agreement removes any legal residue - the tenant agrees to waive all legal claims that may arise from the tenancy, and these. What should be included in a buyout agreement? Create a Buy-Sell Agreement in minutes with step-by-step instructions. Use this contract to protect the shares of a business in unforeseen circumstances. A "buyout agreement" is an agreement wherein a tenant is paid money or given other consideration (for example, a waiver of rent) to vacate a rental unit. Typically, a buyout agreement describes how the member's ownership interest will be valued, who can — or must — buy it, and how the payment will be made.