You (or the purchaser or transferee) must complete Form CBS-1, Notice of Sale, Purchase, or Transfer of Business Assets. Free Consultation - Call (312) 889-8702 - The Castle Law Firm helps companies with business matters in Business and Franchise Law cases.Make sure you have proper legal guidance before your company makes major purchases. Call us at 312-715-8770. This contract sets out the key terms of the transaction, including the purchase price, payment terms, and the assets and liabilities included in the sale. A real estate purchase agreement is a legally binding contract that establishes the terms between a buyer and a seller for the transfer of property.