A BuySell agreement can help all business partners determine what will happen in case of certain circumstances. An LLC buyout agreement template provides a framework for the legal paperwork that makes up an LLC buyout agreement."Explore the importance and provisions of a Partnership Agreement. If you're planning a buyout, getting a buyout agreement in place is essential. But how do they work exactly? Explore LLC member buyout agreements with FindLaw. Understand ownership changes, legal steps, and transfer processes in simple terms.