This Asset Purchase Agreement (the Agreement ) is made as of the 22nd day of February,. If I am buying an existing business in California and it's an asset sale, do I have to use an escrow?Looking to Custom Order a Ford® vehicle? You need a bill of sale in California if you're buying or selling a horse or, in many cases, if you register a car that you bought from a private seller. If you need copies of documents associated with the purchase of your vehicle, contact your Salesperson or the Sales Manager at your Ford Dealer. The buyer and its accountant must analyze the ability to recapture tax credits and depreciation associated with particular assets. When buying or selling any asset, it's a must to have a bill of sale. This document provides clear, legally binding evidence of the transaction.