The purpose of 830 CMR 63.31. 1 is to explain the add back of related member interest or intangible expense, as provided in MGL c.The agreement should include a detailed list of each asset involved in the transaction, including tangible and intangible property. Learn how to fill out a Financial Statement Form, which you need for many types of cases in Massachusetts Probate and Family Court. In an asset sale, the new owner purchases the business's physical assets. The seller retains all rights to the legal entity. An asset sale transaction involves the sale of some or all of the assets used in a business from a selling company to a buyer. So when tangible personal property is part of an asset sale, the parties have to determine whether an exemption covers the asset sale. The due diligence in the asset purchase is focused on assuring that any issues associated with the assets are uncovered and properly accounted for.