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 purchase in Texas, the buyer acquires all or part of a business's assets.A stock sale involves the purchase of the entire business, including all assets and liabilities. This way, the buyer acquires ownership of the business. In a Texas asset purchase, the buyer buys all or portion of a company's assets. During an asset sale, the seller retains legal ownership of the business. An asset sale will likely result in a combination of gain taxed at both ordinary and capital gains rates, depending on the nature of the individual assets.