Our Asset Purchase Agreement Template is the perfect document to use to complete your business transactions. This document is a contract designed to be a legal document to complete the transfer of assets from the current owner to a new owner.
This agreement starts out with a section that defines specific terms used throughout the document. The Asset Purchase Agreement Template then has a section to list both the buyer and the seller of the assets. The next section allows the buyer and seller to list all of the assets being sold. There are separate listings for furniture and fixtures, inventory, vehicles, machinery and equipment and any leasehold agreements. The template can be modified by the user to include all items involved in the sale.
Our template then has a section that both the owner and the seller will verify the asset amounts after closing. If the inventory is different than in the agreement, the owner and seller will agree on the new amounts and who will pay or receive a refund due to the difference. The Asset Purchase Agreement Template spells this out with a provision for interest payments for any funds not paid by the closing date or a date agreed to by the parties.
The next section of the Asset Purchase Agreement Template includes a section for the amount of earnest money required and the duties of buyer and seller to finalize the sale of the assets. The agreement includes penalties for canceling the sale or for misrepresenting the assets. There is a section for the buyer to agree that he has the right to sell the assets in the agreement. Additional paragraphs make sure that both parties agree to the non-use of a broker, and that no other third parties are involved with this sale.
All of the assets will be listed individually on a separate list attached to the agreement. This list will be approved by both parties before the agreement is finalized.
Lastly, the Asset Purchase Agreement Template has a page for the signatures of both parties to the agreement. Both the buyer and seller have lines to sign the agreement, including their company name and date.