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.
Asset Purchase Agreement With
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Multi-State
Control #:
US-00418
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Word;
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An asset purchase agreement is exactly what it sounds like: an agreement between a buyer and a seller to transfer ownership of an asset for a price. The difference between this type of contract and a merger-acquisition transaction is that the seller can decide which specific assets to sell and exclude.
While buyer's counsel typically prepares the first draft of an asset purchase agreement, there may be circumstances (such as an auction) when seller's counsel prepares the first draft.
Writing a real estate purchase agreement.Identify the address of the property being purchased, including all required legal descriptions.Identify the names and addresses of both the buyer and the seller.Detail the price of the property and the terms of the purchase.Set the closing date and closing costs.More items...
Parts of an Asset Purchase AgreementRecitals. The opening paragraph of an asset purchase agreement includes the buyer and seller's name and address as well as the date of signing.Definitions.Purchase Price and Allocation.Closing Terms.Warranties.Covenants.Indemnification.Governance.More items...
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A simple asset sales agreement is used when finishing a transaction where the assets of the company are sold to a buyer. Seller represents and warrants to Buyer as follows: (a) Title.Among other things, they require a well-crafted Asset Purchase Agreement (APA). The Purchase Price will be allocated as specified in Schedule 7 - Allocation of. Purchase Price, to be completed at Closing ("Allocation"). In an asset purchase, the buyer will only buy certain assets of the seller's company. 4 of the Model Asset Purchase Agreement, infra.