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. Asset purchase agreements can be a useful way to create a new business while leaving unwanted resources and potential issues with the seller.A legal resource guide for Nevada real estate licensees. It is good practice to provide the information statement no later than 5 days before the contract becomes binding on the buyer in any type of transaction. Once you have a general agreement with the buyer, the buyer usually drafts and signs a non-binding letter of intent. The opening paragraph of an asset purchase agreement includes the buyer and seller's name and address as well as the date of signing. Asset purchase agreements are needed even in the event that only some of a business' assets are being sold.