An asset purchase agreement is a legal document used when buying or selling a small business. Read on to understand the basics.Fair and reasonable consideration: non-cash consideration. If the judgment debtor borrowed money to buy the car, that loan must be paid out of the proceeds of the sale before you can get any money. No member of the applicant 's household may own residential property, including shares in a co-op, in or within one hundred (100) miles of New York City limits. These requirements apply whether the assets you are acquiring are tangible personal property, intangible property, or real property. The application form describes your claim to the. Court.