Virginia transaction attorney shares how to write an effective and legally binding business purchase agreement. Asset purchase agreements are a useful way to: Carve out certain assets of a business without taking on liabilities or debt obligations.In an asset sale, the new owner purchases the business's physical assets. The seller retains all rights to the legal entity. Virginia Asset Purchase Agreement Template. When you're involved in buying or selling a business's assets, make sure to utilize an asset purchase agreement. Find top rated Virginia asset purchase agreement lawyers. Post your legal needs and get proposals from vetted lawyers in VA for your APA. Use a Business Bill of Sale to set out the terms for the sale of a business and transfer the ownership and all assets to the buyer.