In an asset sale, the business itself sells all of its assets (cash accounts, inventory, accounts receivable, contract rights, licenses, customer lists, real. Asset purchase agreements are a useful way to: Carve out certain assets of a business without taking on liabilities or debt obligations.Purchase Agreement: A legally binding document detailing every aspect of the sale. If you buy or acquire a business, or the stock of goods of a business, you are a successor. Download Minnesota Asset Purchase Agreement template, modify and send for signing using BoloForms Signature. In an asset purchase, the purchaser only acquires the assets and liabilities it identifies and agrees to acquire and assume from the seller. The business buyer must search for undisclosed tax liens before completing a purchase agreement. Buying a business typically involves either an asset purchase or an equity-based purchase.