Learn how to finance a business partnership buyout so you can transition ownership as quickly as possible. The ability to buy out a business partner largely depends on the structure of the partnership and the terms in the partnership agreement.To buy out a business partner, take these steps: 1) Determine what you're buying, eg, customers, inventor, customers, intellectual property, etc. The California Department of Real Estate has published this booklet in response to an apparent need for information concerning disclosures. Here the buyer and seller work out an agreement where the buyer makes monthly payments to the seller in exchange for ownership of the company. In this guide, we will explain what buying out a business partner means, how to prepare to buy out a business partner, and more.