A tenant buyout agreement is a meeting of the minds between the landlord and tenant that results in the tenant vacating the rental unit on their own accord. BUYER shall deposit the Purchase Price with Fidelity National Title Company,.1067 Blossom Hill Road, San Jose, OA 95123 (the "Escrow Holder") no later than two. A properly prepared tenant buyout agreement removes any legal residue - the tenant agrees to waive all legal claims that may arise from the tenancy, and these. A "Buyout Agreement" is a written agreement where a landlord pays a tenant to voluntarily move out of a unit and includes rent controlled units.