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. Upon Closing, Buyer will be responsible for acquiring and maintaining appropriate insurance for the protection of the Acquired.Virginia transaction attorney shares how to write an effective and legally binding business purchase agreement. This ASSET PURCHASE AGREEMENT (this "Agreement") is dated as of September 5,. Asset purchase agreements can be a useful way to create a new business while leaving unwanted resources and potential issues with the seller. Virginia Asset Purchase Agreement Template. When you're involved in buying or selling a business's assets, make sure to utilize an asset purchase agreement. Asset Purchase Agreements (APAs) are essential documents for asset sales, but they're far more complex than a simple transaction. In an asset sale, the new owner purchases the business's physical assets. The seller retains all rights to the legal entity.