Simultaneously, the escrow agent in Fulton reviews and verifies the necessary documents related to the sale. , a Nevada corporation, having a place of business at 806 S.A Business Purchase Agreement is a legally binding contract between a buyer and a seller for the purchase and sale of a business entity. A Membership Interest Purchase Agreement sells the interest in the LLC and not its underlying assets. Sometimes people exit their company with a MIPA. Business assets are not considered legally transferred without a properly executed Business Purchase Agreement between the seller and purchaser. For purposes of this tutorial, the.