1. Purchase of Assets. A somewhat basic level high level presentation on the nuts and bolts of asset purchase sale transactions.Asset purchase agreements can be a useful way to create a new business while leaving unwanted resources and potential issues with the seller. An asset purchase agreement is a written legal instrument that formalizes the purchase of a business or significant business asset. In an asset sale, the new owner purchases the business's physical assets. The seller retains all rights to the legal entity.