What should be included in an asset purchase agreement?

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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Asset Purchase Agreement - Business Sale

Asset Purchase And Sale Agreement Form

Category:

Small Business - Business Sale

State:

Multi-State

Control #:

US-00418

Format:

Instant download

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Description

The Asset Purchase and Sale Agreement Form is a legally binding document outlining the terms under which a buyer acquires assets from a seller. This form details the specific assets being purchased, the purchase price, and the liabilities assumed by the buyer, serving to protect both parties in the transaction. Key features include sections on the identification of assets, exclusions, payment terms, representations and warranties, and conditions precedent to closing. It also specifies that the buyer may need to complete additional agreements, such as non-competition agreements. Users should fill in relevant parties' information, asset descriptions, and financial details accurately, ensuring all non-applicable provisions are removed. This form is particularly useful for attorneys, partners, owners, and legal assistants involved in business transactions, providing a structured approach to asset sales while safeguarding interests. Additionally, it aids paralegals in contract drafting and compliance by supplying a comprehensive template that can be tailored to specific transactions.

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FAQ

A business asset purchase agreement (APA) is a standard merger & acquisition contract that contains the terms for transferring an asset between parties. The terms in an APA provide key logistics about the deal (e.g., purchase price, closing date, payment, etc.) along with the rights and obligations of the parties.

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...

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.

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.

How to write 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...