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 sale, the ownership of these acquired assets would change hands, with the buyer negotiating separately for each asset.Buyers typically prefer structuring acquisitions as asset deals because they receive a stepup in the basis of the acquired assets. In an asset sale, the buyer selects specific assets and typically avoids inheriting liabilities. A taxable asset purchase allows the buyer to "step up," or increase, the tax basis of the acquired assets to reflect the purchase price. An asset sale is when only the individual assets are purchased. In an asset sale, your corporation or LLC sells its assets to the buyer and you continue to own the corporate stock or LLC membership interests. In an asset sale scenario, both sides can be crafty with the assets to be transferred and the liabilities the purchasing parties want to assume. In an asset sale, the buyer has the option to choose which assets (and liabilities) they want to acquire (or assume) directly from the business.