An asset purchase agreement is a written legal instrument that formalizes the purchase of a business or significant business asset. Seller has delivered to the Buyer correct and complete copies of the Leases and each lease is legal, valid, binding, enforceable, and in full force and effect.Assignee all of Assignor's right, title and interest in the Assets, including, without limitation, the. Servicing Agreements. 2. Buying or selling company assets? Use this Asset Purchase Agreement to finalize the terms of the transaction. An asset purchase agreement is the legal document that will govern the transfer of ownership of a business's assets from the seller to the buyer. The documents you need to buy or sell a business depend on the structure (discussed here) and complexity of the deal as well as its specific terms.