This form is an Asset Purchase Agreement. The buyer agrees to purchase from the seller certain assets which are listed in the agreement. The form also provides a listing of certain assets which will be excluded from the sale. The form must be signed in the presence of a notary public.
Sale Of Business Assets Agreement With Seller Financing In Queens
Category:
State:
Multi-State
County:
Queens
Control #:
US-00418
Format:
Word;
Rich Text
Instant download
Description
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FAQ
First and foremost, it is typically the buyer's responsibility — not yours as the seller — to draft the Definitive Agreement. This will not begin until both the buyer and the seller sign a Letter of Intent indicating their intention to buy/sell the business.
In an asset sale, the seller retains possession of the legal entity and the buyer purchases individual assets of the company, such as equipment, fixtures, leaseholds, licenses, goodwill, trade secrets, trade names, telephone numbers, and inventory.
In an asset sale, the seller retains possession of the legal entity and the buyer purchases individual assets of the company, such as equipment, fixtures, leaseholds, licenses, goodwill, trade secrets, trade names, telephone numbers, and inventory.
More info
This is a loan the seller makes to the buyer to facilitate the sale. You also need a collateral agreement (often called a UCC filing) if the sale includes physical assets.Seller's interest in the Property includes: (1) Loss. Buyers shall purchase as part of this contract, all equipment, fixtures, goodwill, inventory, trademarks, trade names, and leasehold rights. When you are included in the lien sale, the City of New York sells your debt to an authorized buyer. The buyer then has the right to collect what you owe. You will need a promissory note and security agreement that addresses the key terms of the seller note.