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. 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.There are two primary ways to structure the taxable purchase and sale of an incorporated business. The parties may engage in an asset acquisition. Asset sales are types of business transaction where buyers purchase assets from a business, and the sellers retain legal ownership of the company. Asset Sale lets buyers choose specific assets and liabilities; Stock Sale doesn't. An asset sale occurs when the assets of your business are sold to a buyer. A stock sale takes place between the buyer and the target company's shareholders. In some cases, a sale can be treated as an equity sale for legal purposes while being treated as an asset sale for federal income tax purposes.