You (or the purchaser or transferee) must complete Form CBS-1, Notice of Sale, Purchase, or Transfer of Business Assets. A purchase intending to buy all of a company's assets must conduct a thorough inventory in advance of purchase.If you need legal assistance or advice when buying and selling a business, contact the office of McCracken law today! Contact our Yorkville asset purchase agreement lawyer for assistance with commercial real estate transactions in Kendall County. An asset purchase agreement is a written legal instrument that formalizes the purchase of a business or significant business asset.