This Asset Purchase Agreement template sets out the terms and conditions upon which Seller shall effect the sale of asset(s) to Buyer. Take advantage of our free Asset Purchase Agreement template that you can download in Word or PDF.An asset purchase agreement is a legal document used when buying or selling a small business. Read on to understand the basics. All Contracts and contract rights of Seller relating to the Acquired Assets or the. Step 1: Complete the taxpayer information section.