This form is an Asset Purchase Agreement. The buyer agrees to purchase from the seller certain assets which are listed in the agreement. The form also provides a listing of certain assets which will be excluded from the sale. The form must be signed in the presence of a notary public.
Wyoming Asset Purchase Agreement - Business Sale
Category:
State:
Multi-State
Control #:
US-00418
Format:
Word;
Rich Text
Instant download
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FAQ
An asset purchase involves the purchase of the selling company's assets -- including facilities, vehicles, equipment, and stock or inventory. A stock purchase involves the purchase of the selling company's stock only.
Summary of important things to know Get a lawyer or conveyancer to draw up the sale and purchase agreement. Once you have signed a sale and purchase agreement, you need your lawyer or conveyancer to hold the buyer's deposit in their trust account.
Among the terms typically included in the agreement are the purchase price, the closing date, the amount of earnest money that the buyer must submit as a deposit, and the list of items that are and are not included in the sale.
An asset purchase agreement is an agreement between a buyer and a seller to purchase property, like business assets or real property, either on their own or as part of a merger-acquisition.
Provisions of an APA may include payment of purchase price, monthly installments, liens and encumbrances on the assets, condition precedent for the closing, etc. An APA differs from a stock purchase agreement (SPA) under which company shares, title to assets, and title to liabilities are also sold.
In an asset purchase, the buyer will only buy certain assets of the seller's company. The seller will continue to own the assets that were not included in the purchase agreement with the buyer. The transfer of ownership of certain assets may need to be confirmed with filings, such as titles to transfer real estate.
The bill of sale is typically delivered as an ancillary document in an asset purchase to transfer title to tangible personal property. It does not cover intangible property (such as intellectual property rights or contract rights) or real property.
What Should I Include in a Sales Contract?Identification of the Parties.Description of the Services and/or Goods.Payment Plan.Delivery.Inspection Period.Warranties.Miscellaneous Provisions.
Among the terms typically included in the agreement are the purchase price, the closing date, the amount of earnest money that the buyer must submit as a deposit, and the list of items that are and are not included in the sale.