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 Business Sale Contract With Personal Use In Maricopa
Category:
State:
Multi-State
County:
Maricopa
Control #:
US-00418
Format:
Word;
Rich Text
Instant download
Description
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FAQ
Disadvantages of Asset Sale The seller is subject to a double layer of taxation. Transferring assets may be more complicated. Agreements tied to certain assets may need to be renegotiated.
If you operate your business as a corporation, the corporation owns the assets, and you can't simply convert a business asset to personal use as you can with a proprietorship. When you operate as a corporation and you want the corporation's assets, the corporation needs to effectively sell you those assets.
An asset sale occurs when a company transfers ownership of one or more resources to another company. Assets included in a sale may be physical objects or clerical. Asset sales serve a variety of goals such as increasing liquidity for a company and lowering its asset-related risks.