Take advantage of our free Asset Purchase Agreement template that you can download in Word or PDF. An APA is a legallybinding contract between a buyer and seller that finalizes the terms and conditions of an acquisition.Both the seller and purchaser of a group of assets that makes up a trade or business must use Form 8594 to report such a sale. How do I fill this out? Establish terms for sale and purchase of an asset. Filed with the Securities and Exchange Commission.