To file as a single proprietor, the Blumberg form is X201. To file as a partnership, the Blumberg form is X74.If you're planning a buyout, getting a buyout agreement in place is essential. But how do they work exactly? Download our free Partnership Buyout Agreement template for your business needs. In this article, we will explore the intricacies of partner buyouts, including the financing requirements for complete and partial changes. Learn the steps for a smooth business partner buyout. Our guide simplifies how to buy out a business partner effectively. A buyout agreement is an essential legal document in business transactions, defining the terms and conditions of a deal.