An APA spells out the conditions and terms under which a seller will transfer all of the assets that belong to the business to a buyer. This guide will break down the ins and outs of asset purchase agreements for multiple owners, making this complex legal topic more digestible and actionable.An asset purchase agreement is a legal document used when buying or selling a small business. Read on to understand the basics. 1.2 Agreement to Purchase. This Asset Purchase Agreement ("Agreement") is made effective as of December 14,. Complete the coop's purchase application. For a detailed look at co-op applications, check out NYC Apartment Purchase Application Guide.