The Asset Purchase Form IRS in New York is a legal document outlining the terms and conditions related to the sale of business assets from a Seller to a Buyer. This form details the specifics of the assets being sold, the liabilities not assumed by the Buyer, and sets the purchase price alongside its allocation. It includes necessary clauses such as representations and warranties, covenants, and closing conditions, ensuring both parties comply with their obligations. For attorneys, it provides a structured format to facilitate negotiations and finalize asset transfers legally. Partners, owners, and associates will find it useful for understanding their rights, responsibilities, and the implications of including specific clauses like non-competition agreements. Paralegals and legal assistants can utilize the form to gather required information for accurate filling and modification, ensuring compliance with state laws. Its clear instructions assist users in mitigating risks associated with asset purchases and ensuring a thorough record of the transaction.