A business can sell the entity through an Asset Purchase Agreement. The business assets and liabilities are listed. The purchase price is established, and the payment terms are established. The parties certify as to the status of the organization and a declaration as to assumption of all the liabilities. Leases can be assumed if allowed by the Landlord. A bill of Sale is established and in the final stage a closing takes place.

Landon A Dunn, Attorney At Law can review any asset purchase agreement and provide legal advice for your Small Business legal needs. Call us or use our contact form.