Here the buyer and seller work out an agreement where the buyer makes monthly payments to the seller in exchange for ownership of the company. A buyout agreement outlines the procedure that must be followed if a member of your limited liability company (LLC) wants to sell his or her ownership stake.In this guide, we will explain what buying out a business partner means, how to prepare to buy out a business partner, and more. Learn how to finance a business partnership buyout so you can transition ownership as quickly as possible. Transfer, hypothecation, negotiation, pledge, sale, encumbrance, assignment or other disposition of this share certificate and the shareholdings represented. Securing financing for a partner buyout can seem challenging, especially when you haven't done it before. Click here to learn about all of your options.