An Asset Purchase Agreement is an agreement between a buyer and a seller of a business as to the terms and conditions of the sale of the business. Both the seller and purchaser of a group of assets that makes up a trade or business must use Form 8594 to report such a sale.The Real Property Department records documents pertaining to real property or real estate in Harris County. In an asset sale, the new owner purchases the business's physical assets. The seller retains all rights to the legal entity. Which forms will I need to file? For Harris County Appraisal District, most businesses will need to file the general rendition form, 22.15.