In an asset purchase in Texas, the buyer acquires all or part of a business's assets. In a Texas asset purchase, the buyer buys all or portion of a company's assets.This set provides coverage of every aspect of probate law and estate and trust administration in Texas. It includes sample forms and letters. How to fill out the Inventory and Appraisement of Assets in Texas? 1. Collect necessary financial and property documents. 2. All personal property purchased or acquired are assets of the university. When you purchase or sell an asset, you must retitle all property in the new owner's name. This includes leases and equipment titles. Your business will need special assets and equipment to succeed.