The agreement should include a detailed list of each asset involved in the transaction, including tangible and intangible property. A retail sale takes place in Massachusetts if title or possession of the tangible personal property is transferred in Massachusetts.An asset sale transaction involves the sale of some or all of the assets used in a business from a selling company to a buyer. Whether you are buying or selling a business in Massachusetts, completing the transaction without the help of a business lawyer is extremely risky. In an asset sale, the new owner purchases the business's physical assets. The seller retains all rights to the legal entity. Line 1: Enter the name, address, and Tax Identification Number (TIN) of the other party (either the purchaser or seller).