This lease agreement sets out the rules landlords and tenants agree to follow. It is a legal contract, as well as an immensely practical document.Asset purchase agreements are a useful way to: Carve out certain assets of a business without taking on liabilities or debt obligations. A legal resource guide for Nevada real estate licensees. An asset purchase agreement is a legal contract that outlines the terms of an agreement to transfer assets between parties. It should not be read to mean that all asset sales in a particular state will be exempt from tax.