An APA, or Asset Purchase Agreement, is a contract in which a buyer and seller agree to the transfer of ownership for an asset at an agreed price. How do I fill this out?This article reviews what small business owners need to complete an asset purchase of their business. Portal for filling out and submitting Business Personal Property Listings and Extensions. Taxscribe tutorial . Find out how much you'll pay in North Carolina state income taxes given your annual income. Customize using your filing status, deductions, exemptions and more. Asset purchase agreements are a useful way to: Carve out certain assets of a business without taking on liabilities or debt obligations.