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 is the purchase of individual assets and liabilities, whereas a stock sale is the purchase of the owner's shares of a corporation.In an asset purchase, the buyer acquires specific assets. Asset Sale lets buyers choose specific assets and liabilities; Stock Sale doesn't. 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. On the other hand, stock sales do not provide the same tax benefits that are available with asset sales. Learn the tax implications for each type of sale. ​​ The main difference between asset sales vs.