In an asset purchase, the buyer agrees to purchase specific assets and liabilities. This means that they only take on the risks of those specific assets.Asset purchase agreements can be a useful way to create a new business while leaving unwanted resources and potential issues with the seller. A somewhat basic level high level presentation on the nuts and bolts of asset purchase sale transactions. Our commercial property solicitors deal with all aspects of asset purchase agreements (APAs) and can act for either buyers or sellers of commercial property. It is often used to enable the buyer and seller to agree on the terms of an exchange when there are differing views on the value of the assets. Included as part of intangibles that we purchased is key personnel valued at 300K. With an asset purchase, the buyer can step up the tax basis on the target corporation's appreciated assets to reflect the purchase price.