Buying out a business partner is a complicated process. Call (215) 545-4830 - Danziger Shapiro, P.C. is dedicated to serving our clients with a range of legal services including Business and Corporate cases.A buyout agreement is a binding contract between business partners that establishes the buyout details of one partner exiting the partnership. Setting up a proper buysell agreement is key to mitigating conflict when a stakeholder wants to leave the family business. Legal advise and agreements for purchasing a business or selling a business. Get our free, updated 2022 checklist for business buyers. IV. Partners will transfer title to Max as sole owner.