§ 152-3 Filing of application and inventory. The sale of a trade or business for a lump sum is considered a sale of each individual asset rather than of a single asset.You will need to allocate the amount reflected on form 8594 among all the assets. A typical method is to allocate the proceeds based on the original cost. Browse over 1500 Business Assets currently available for sale on BizBuySell. Are you interested in selling some or all assets of your business? In an asset sale, the new owner purchases the business's physical assets. The seller retains all rights to the legal entity. The purchaser of business assets, other than in the ordinary course of business, must notify the State at least 10 business days in advance of the sale. Please submit this form to the Office of Student Financial Aid within 14 business days.