Legal Question in Business Law in California

Did you need help with this?

Have you agreed on terms? That's step one.

You should look at the LLC's Operating Agreement to see what it says, if anything, about buy-outs and related matters. Maybe there are contractual provisions regarding the duty to buy out, determination of the price, etc.

If the Operating Agreement (or other contracts) are silent on the subject, there is no really easy way to compel a buy-out or set the price, beyond just negotiating it with the other owner. It may be possible to force a liquidation of the business if the co-owners are deadlocked. You may need to consult a business attorney for assistance.