An Asset Purchase Agreement is a legally binding contract between a buyer and a seller that details the terms and conditions of the sale of a business's assets. Find top rated asset purchase agreement lawyers for Dallas, TX to hire.Post your legal needs and get proposals from TX APA lawyers. Use original purchase documents, such as invoices or purchase orders to determine the original cost of the asset. The first step in asset and wealth identification and valuation begins with the client filling out a list of the property and debts that exist. Seller has delivered to the Buyer correct and complete copies of the Leases and each lease is legal, valid, binding, enforceable, and in full force and effect. Asset purchases occur between a seller and buyer of a company's assets, including facilities, vehicles, equipment, stock, and inventory. Both the buyer and seller must complete IRS Form 8594 during the sale to report the sale and purchase of business assets.