Complete our free online enquiry form. What is an asset purchase agreement?With an asset purchase agreement, you can buy only the desired assets and liabilities. This Agreement and otherwise to carry out its obligations hereunder. Identify the parties involved in the transaction. 2. 1.4. Excluded Liabilities. Use this free asset purchase agreement template to help you agree on terms between buyers and sellers. Our templates are for general information only. The Disadvantages of an Asset Purchase. Asset purchases can be much more complex than stock purchases, as specific assets must be completely reassigned.