Acquisitions
Asset Purchase Agreement
Texas
Should asset purchase agreement be notarized?
Do we need to notarize an APA? I have tried to do research online and cannot find anything. I am trying to budget for a new acquisition and want to make sure I have all of my ducks in a row. Are there any other documents I will need?
Answers from 2 Lawyers
Answer
Acquisitions
Texas
Craig C.
ContractsCounsel verified
October 19, 2022
There is absolutely NO requirement that an asset purchase agreement be notarized. However, there is no harm to having it notarized.
Answer
Corporate
Texas
Michael S.
ContractsCounsel verified
September 20, 2022
First, I highly recommend you get legal representation in connection with your purchase agreement. Second, I'm not a Texas lawyer, but generally an asset purchase agreement will not need to be notarized.
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Acquisitions
Asset Purchase Agreement
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Who drafts the asset purchase agreement?
I have just put my business up for sale and doing some research on what legal documents will be needed in the future.
Ramsey T.
It depends. In many cases the lawyers representing the seller draft the asset purchase agreement. This is not always the case and at least forty percent (40%) of the deals I have worked on have featured the buyer drafting the asset purchase agreement. Who drafts the agreement may often depend upon who is in a stronger position and/or who has attorneys with the bandwidth to properly support the deal, as envisioned in the relevant term sheet.
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What is the difference between an asset purchase agreement and business purchase agreement?
I am selling my e-commerce store and want to know which one of these I need.
Forest H.
Just like the name suggests, an asset purchase agreement is just that – an agreement to purchase existing assets. This would be the appropriate document to use if you are buying or selling some or all of the assets of a business but not the business itself. For example, if you own a yard service company and you are interested in buying all of the mowers, trucks, and equipment of another yard service business. An asset purchase agreement would give a defined list of the equipment you are purchasing. If you were interested in buying the whole business, including existing contracts, assuming the debt, and retaining the other business’s employees and perhaps even their name, you would want a business purchase agreement.
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How does an asset purchase agreement work with debt?
I am buying a business and want to use an asset purchase agreement based on what I've read, but I believe the company has debt. How does this work? Will I also be buying the debt? Any help is appreciated
Michael S.
Good morning. With the caveat that I am a Pennsylvania attorney, as the buyer, you do want to buy the assets and not the company. The drafting of the purchase agreement is critical, ensuring that you are not responsible for existing debt. You will also want to obtain an indemnification from the seller, to make sure you are protected in case any of the creditors come after you. Obviously, the details of the deal may complicate things, but that is the gist.
Read 2 attorney answers>Acquisitions
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Can i get any business lawyer here?
Good day, I am currently in need of an attorney to handle purchase agreement of construction equipment. Let me Know if you can be of great assistance? Best Regards, Jake Williams.
Philip D.
I can help. Do you have a list of the equipment with descriptions, and/or copies of PO's, invoices, bills of lading, receipts, photos, registrations, or other documents evidencing the current or past ownership/registration for or condition of the equipment?
Read 1 attorney answer>Corporate
Asset Purchase Agreement
Texas
How does an asset purchase agreement work with debt?
I am buying a business and want to use an asset purchase agreement based on what I've read, but I believe the company has debt. How does this work? Will I also be buying the debt? Any help is appreciated
Michael S.
Good morning. With the caveat that I am a Pennsylvania attorney, as the buyer, you do want to buy the assets and not the company. The drafting of the purchase agreement is critical, ensuring that you are not responsible for existing debt. You will also want to obtain an indemnification from the seller, to make sure you are protected in case any of the creditors come after you. Obviously, the details of the deal may complicate things, but that is the gist.
Read 2 attorney answers>
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