Learn how to initiate a buyout agreement effectively with this comprehensive guide. In this ultimate guide, we will unravel the mysterious world of buyout agreements and show you stepbystep how to navigate them like a pro.An LLC buyout agreement template provides a framework for the legal paperwork that makes up an LLC buyout agreement. Buyouts happen for a host of reasons: performance, divergent goals, or one partner's unwillingness to take on more responsibility. If you have an operating or partnership agreement with a buyout provision, you may be able to force your business partner to buy you out. Explore LLC member buyout agreements with FindLaw. Understand ownership changes, legal steps, and transfer processes in simple terms.