An asset sale occurs when a business sells all or a portion of its assets. 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.Asset Sale lets buyers choose specific assets and liabilities; Stock Sale doesn't. Learn the tax implications for each type of sale. While an asset sale outshines a stock sale in company structure support, it loses a fair amount of points when it comes to tax implications. With an asset sale, the buyer is buying the assets of the business. These assets will be identified in the purchase and sale agreement. In an asset sale, the buyer selects specific assets and typically avoids inheriting liabilities.