In this ultimate guide, we will unravel the mysterious world of buyout agreements and show you stepbystep how to navigate them like a pro. 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. Use a Business Bill of Sale to set out the terms for the sale of a business and transfer the ownership and all assets to the buyer. You (or the purchaser or transferee) must complete Form CBS-1, Notice of Sale, Purchase, or Transfer of Business Assets.