IMPORTANT: This rendition covers property you owned on January 1 of this year. Tax is imposed on the leasing company's Texas purchase of a motor vehicle and is due at the time of titling and registration.What Is An Asset Purchase Agreement? An asset purchase agreement (APA) is a critical document that outlines the sale of a business or its assets. An asset purchase agreement is the legal document that will govern the transfer of ownership of a business's assets from the seller to the buyer. I wish my 200k dollar home was still VALUED at 200k. The appraisal has gone up so much.