An asset sale is the purchase of individual assets and liabilities, whereas a stock sale is the purchase of the owner's shares of a corporation. Commonly referred to as cash-free, debt-free transactions, asset business sales do not typically involve the transfer of cash or long-term debts.An asset sale allows the transfer of specific assets and liabilities while the seller remains being owner of the legal entity. One of our more popular blog posts focused on asset deal vs. An asset sale otherwise known as an asset deal or asset purchase is a special type of business sale that only deals with assets and liabilities. The tax impact can vary based on the structure of the sale (asset sale vs. Stock sale) and the specifics of the business. In asset sales, the buyer can obtain tax reductions as a result of the sale's structure. In an asset sale, the buyer has the option to purchase all the assets and liabilities or specific assets—and assume certain liabilities—of a target corporation. Learn the tax implications for each type of sale.