Learn the steps for a smooth business partner buyout. Our guide simplifies how to buy out a business partner effectively.In this ultimate guide, we will unravel the mysterious world of buyout agreements and show you stepbystep how to navigate them like a pro. Explore LLC member buyout agreements with FindLaw. Understand ownership changes, legal steps, and transfer processes in simple terms. 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. An LLC buyout agreement template provides a framework for the legal paperwork that makes up an LLC buyout agreement.