Save Signed Asset Purchase Agreement For Free

An asset purchase agreement should specify the detailed action to be taken and detailed documents to be submitted after the closing of the agreement. For example, change of bank and regulatory signatories, a charge of customer and financial records, original documents and regulatory approval.

At its most basic, a purchase agreement should include the following: Name and contact information for buyer and seller. The address of the property being sold. The price to be paid for the property. The date of transfer. Disclosures. Contingencies. Signatures.

The agreement allows the buyer to discuss exactly which assets they intend to purchase, what obligations and liabilities it will assume including employees as well as arrangements for the running of the business after the completion of the deal.

Asset Sale Checklist List of Assumed Contracts. List of Liabilities Assumed. Promissory Note. Security Agreement. Escrow Agreement. Disclosure of Claims, Liens, and Security Interests. List of Trademarks, Trade Names, Assumed Names, and Internet Domain Names. Disclosure of Licenses and Permits.

In any asset transfer agreement, including a simple one, it is essential to provide the full names and contact details of both parties. If a corporation is involved, its specific details must be included as well. Use [Product Description] to specify the asset that is being sold.

The asset purchase agreement is typically prepared by the buyer's lawyer. However, it is important to have the agreement reviewed by a business lawyer to ensure that all assets are properly transferred and that the purchase price is fair.

In an asset purchase, the buyer agrees to purchase specific assets and liabilities. This means that they only take on the risks of those specific assets. This could include equipment, fixtures, furniture, licenses, trade secrets, trade names, accounts payable and receivable, and more.