In this guide, we will explain what buying out a business partner means, how to prepare to buy out a business partner, and more. This guide outlines the essential procedures for buying a stake from a business partner.These include creating the motivation behind the buyout. Please complete the form below to create the Partner Buyout Agreement Template. All fields must be filled out to ensure a clear and complete agreement. What should be included in a buyout agreement? Edit, sign, and share buyout agreement template online. No need to install software, just go to DocHub, and sign up instantly and for free. An LLC buyout agreement template provides a framework for the legal paperwork that makes up an LLC buyout agreement.