Use a Business Bill of Sale to set out the terms for the sale of a business and transfer the ownership and all assets to the buyer. Identify the parties involved in the transaction. 2.Both the seller and purchaser of a group of assets that makes up a trade or business must use Form 8594 to report such a sale. "Bill of Sale" means a Bill of Sale in the form of Exhibit D hereto. Secure your transaction with our notarized bill of sale template. An asset purchase agreement is a written legal instrument that formalizes the purchase of a business or significant business asset. A street address is required. County clerk employees should use the county clerk address.