A buyout agreement outlines how one partner can purchase the leaving partner's shares in the collectively owned business. Buying out a business partner is a complicated process.If you're authorized to manage the profile, you can request ownership from the current profile owner. 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. Make sure your address meets the guidelines. Fill out the contact form on the Help Centre. If you're planning a buyout, getting a buyout agreement in place is essential. But how do they work exactly? Edit, sign, and share buyout agreement template online. No need to install software, just go to DocHub, and sign up instantly and for free.