This guide will break down the ins and outs of asset purchase agreements for multiple owners, making this complex legal topic more digestible and actionable. Learn the tax implications for each type of sale.Representations as of the date of the acquisition agreement, the buyer has several options. In an asset purchase the buyer and the seller agree to the list of liabilities and assets that are to be transferred to the buyer. Use this free asset purchase agreement template to help you agree on terms between buyers and sellers. However, if a buyer and seller submit contradicting purchase price allocations, the IRS may challenge one or both purchase price allocations. Agreement. Seller shall join in the Application.