An asset purchase agreement (APA) is a written legal document that formalizes purchasing a business or substantial commercial asset. An asset purchase agreement is the legal document that will govern the transfer of ownership of a business's assets from the seller to the buyer.The letter of intent and the Asset Purchase Agreement should identify the assets and the purchase price. When a client is considering purchasing all or some assets of another company, we work with them to get an understanding of what it is they are buying. 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. Asset Search in Houston. Call 1 (800) 820-7006 or contact us online to discuss your asset search needs.