This form is an Asset Purchase Agreement. The seller agrees to sell to the buyer certain assets which are listed in the agreement. The form also provides that the buyer will not be responsible for any unfilled orders from the customers of the seller.
Asset Sale For Business In Massachusetts
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State:
Multi-State
Control #:
US-00419
Format:
Word;
Rich Text
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The Company's sale of tangible personal property in Massachusetts will be subject to the sales tax, unless otherwise exempted. In an asset sale, the new owner purchases the business's physical assets.The seller retains all rights to the legal entity. Prepare a list of furniture and equipment included in the sale. If any are under lease, identify those. 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 buyer purchases individual assets and liabilities of the business, such as equipment, inventory, and intellectual property. If the seller of business assets is a corporation, a majority of its shareholders must approve the sale of substantially all of the corporation's assets. Make sure all income and assets are accounted for. If you have vehicles, equipment, or real property, collect the relevant documents such as deeds and titles.