Letter of Intent to Purchase Assets of Business

for Your State

This Letter of Intent to Purchase Assets of Business sets forth a buyer's intent to purchase specific assets of a business. This intent letter can easily be tailored to fit your specific needs.

For Immediate Download

$19.95 Add to Cart
Free eSignature included
with every order
Please select a state

File types included

  • Microsoft Word
  • Adobe PDF
  • WordPerfect
  • Rich Text Format

Compatible with

  • Windows
  • Mac OS X
  • Linux

For Immediate Download

$19.95 Add to Cart
Free eSignature included
with every order
Please select a state

Attorney prepared

Our forms are kept up-to-date and accurate by our lawyers

Unlike other sites, every document on FindLegalForms.com is prepared by an attorney, so you can be sure that you are getting a form that is accurate and valid in your state.

Valid in your state

Our forms are guaranteed
to be valid in your state

Our team works tirelessly to keep our products current. As the laws change in your state, so do our forms.

Over 3,500,000
satisfied customers

In over 10 years of creating and selling legal forms, our focus has never changed: providing our customers high quality legal products, low prices and an experience that takes some confusion out of the law.

Free eSignature

Sign your form online, free with any form purchase

We now provide a free Electronic Signature Service to all of our visitors. There are no hidden charges or subscription fees, it's just plain free.

60-Days Money Back

Try our forms with no risk

If you are unhappy with your form purchase for any reason at all, contact us within 60 days and we will refund 100% of your money back.
This Letter of Intent to Purchase Assets of Business will express a buyer's intent to purchase the assets of a business. This letter sets out the names of the buyer and seller of the business, brief description of the business and its trade name and address. It also sets forth the specific assets to be purchased and that a formal agreement will be drawn up once this letter of intent is accepted. A well-written Letter of Intent to Purchase Assets of Business will ensure that your offer to purchase is reviewed by the seller.

This Letter of Intent to Purchase Assets of Business includes the following:
  • Parties: The names of the buyer and seller and a description of the business, as well as its name and address;
  • Assets: Sets forth the assets to be purchased and any assets which will be excluded;
  • Purchase Price: Sets forth the purchase price paid for the assets including allocations for equipment and fixtures and the goodwill of the business;
  • Employees: Seller will be responsible for terminating the employees of the business, if necessary, and paying all required amounts to those employees;
  • Signatures: This intent letter is signed by the buyer and confirmed by signature of the seller.

Protect yourself and your rights by using our attorney-prepared forms.

This attorney-prepared packet contains:
  1. General Instructions
  2. Letter of Intent to Purchase Assets of Business
State Law Compliance: This form complies with the laws of all states
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.
 
 
Letter of Intent to Purchase Assets of Business

 

 
 
Date
 
 
Name of Seller
Address of Seller
 
 
Dear Sirs/Mesdames:
 
This will express the intention of Name of Buyer (the "Buyer") to purchase from Name of Seller (the "Seller") all of the assets used by the Seller in the operation of its Brief Description of Nature of Business being sold (ie. retail store) business carrying on business under the name "Trade Name of Business" (the "Business") from its location Address of Business being sold (the "Premises"), upon the following terms and conditions:
 
Purchased Assets
 
The assets of the Business being purchased by the Buyer include all of the undertaking, property and assets of the Business as a going concern, of every kind and description and wherever situated, including but not limited to all inventory, supplies, equipment, fixtures, leasehold improvements, and goodwill, but specifically excluding cash and accounts receivable (collectively the "Purchased Assets"). The Buyer will not be assuming any liabilities or obligations of the Seller of any nature whatsoever.
 
Purchase Price
 
The purchase price (the "Purchase Price") payable by the Buyer to the Seller for the Purchased Assets will be the aggregate of the following:
 
1.   $Portion of Purchase Price allocated to equipment, fixtures and leasehold improvements allocable to the equipment, fixtures and leasehold improvements of the Business located at the Premises;
 
2.   The amount of  $Portion of the Purchase Price Allocated to Goodwill representing the fair market value of the goodwill and other intangible assets of the Business; and
 
3.   The actual cost of to the Seller of all useable and saleable inventory of the Business on the Closing Date (excluding any freight costs) which shall be determined by a physical inventory count taken by the Buyer and the Seller on or before the Closing Date.
 
The Purchase Price shall be paid by the Buyer to the Seller at Closing. The Purchase Price shall be subject to the usual adjustments including the last month's prepaid rent, if any, paid under the lease of the Premises and the unearned portion of the current month's rent under the lease paid as of the Closing Date.
 
Closing Date
 
The Closing Date shall be Closing Date (the "Closing Date"), or such other date as the Buyer and the Seller my mutually agree to.
 
Formal Asset Purchase Agreement
 
Upon acceptance by you of this Letter of intent, we will instruct our attornies to prepare a formal Asset Purchase Agreement (the "Asset Purchase Agreement") incorporating the terms and conditions of this letter of intent, and containing the usual agreements, covenants, representations, warranties, indemnifications and other provisions commonly found in such agreements, which we will present to you for review. The Seller and the Buyer shall act in good faith and use their best efforts to negotiate and enter into the Asset Purchase Agreement based upon this letter of intent.
 
Bulk Sales Legislation
 
The Seller shall comply with applicable bulk sales legislation
 
Representations and Warranties
 
The Asset Purchase Agreement shall contain the usual and customary representations and warranties commonly given by Seller in such transactions.
 
Employees
 
The Seller will be responsible for terminating the employment of all employees of the Business and any other employees of the Corporations, and will pay all required vacation pay, benefits, salary, severance, termination and other amounts payable to such terminated employees. The Buyer may, prior to the Closing Date, offer employment to those employees which it, in its sole discretion, determines to hire. The Seller will indemnify the Buyer against any and all vacation pay, benefits, salary, severance, termination and other amounts payable to such terminated employees as of the Closing Date.
 
Effect of this Letter of Intent
 
Notwithstanding that this letter of intent contains many of the essential points regarding the transactions described herein, this is not intended to be a legally enforceable agreement and no cause of action shall arise in respect of the signing hereof.
 
 
Please sign the enclosed copy of this letter of intent and return it to us on or before Date, as confirmation of the status of our negotiations. We will then instruct our lawyers to commence drafting the Asset Purchase Agreement.
 
 
Yours very truly,
 
NAME OF BUYER
 
Per:
 
 
Name:   
Title:   
 
 
Confirmed this _____ day of _________________, 20____
 
NAME OF SELLER
 
Per:
 
 
Name:   
Title:   
 
Number of Pages5
DimensionsDesigned for Letter Size (8.5" x 11")
EditableYes (.doc, .wpd and .rtf)
UsageUnlimited number of prints
Product number#28837
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.
 
 
Letter of Intent to Purchase Assets of Business

 

 
 
Date
 
 
Name of Seller
Address of Seller
 
 
Dear Sirs/Mesdames:
 
This will express the intention of Name of Buyer (the "Buyer") to purchase from Name of Seller (the "Seller") all of the assets used by the Seller in the operation of its Brief Description of Nature of Business being sold (ie. retail store) business carrying on business under the name "Trade Name of Business" (the "Business") from its location Address of Business being sold (the "Premises"), upon the following terms and conditions:
 
Purchased Assets
 
The assets of the Business being purchased by the Buyer include all of the undertaking, property and assets of the Business as a going concern, of every kind and description and wherever situated, including but not limited to all inventory, supplies, equipment, fixtures, leasehold improvements, and goodwill, but specifically excluding cash and accounts receivable (collectively the "Purchased Assets"). The Buyer will not be assuming any liabilities or obligations of the Seller of any nature whatsoever.
 
Purchase Price
 
The purchase price (the "Purchase Price") payable by the Buyer to the Seller for the Purchased Assets will be the aggregate of the following:
 
1.   $Portion of Purchase Price allocated to equipment, fixtures and leasehold improvements allocable to the equipment, fixtures and leasehold improvements of the Business located at the Premises;
 
2.   The amount of  $Portion of the Purchase Price Allocated to Goodwill representing the fair market value of the goodwill and other intangible assets of the Business; and
 
3.   The actual cost of to the Seller of all useable and saleable inventory of the Business on the Closing Date (excluding any freight costs) which shall be determined by a physical inventory count taken by the Buyer and the Seller on or before the Closing Date.
 
The Purchase Price shall be paid by the Buyer to the Seller at Closing. The Purchase Price shall be subject to the usual adjustments including the last month's prepaid rent, if any, paid under the lease of the Premises and the unearned portion of the current month's rent under the lease paid as of the Closing Date.
 
Closing Date
 
The Closing Date shall be Closing Date (the "Closing Date"), or such other date as the Buyer and the Seller my mutually agree to.
 
Formal Asset Purchase Agreement
 
Upon acceptance by you of this Letter of intent, we will instruct our attornies to prepare a formal Asset Purchase Agreement (the "Asset Purchase Agreement") incorporating the terms and conditions of this letter of intent, and containing the usual agreements, covenants, representations, warranties, indemnifications and other provisions commonly found in such agreements, which we will present to you for review. The Seller and the Buyer shall act in good faith and use their best efforts to negotiate and enter into the Asset Purchase Agreement based upon this letter of intent.
 
Bulk Sales Legislation
 
The Seller shall comply with applicable bulk sales legislation
 
Representations and Warranties
 
The Asset Purchase Agreement shall contain the usual and customary representations and warranties commonly given by Seller in such transactions.
 
Employees
 
The Seller will be responsible for terminating the employment of all employees of the Business and any other employees of the Corporations, and will pay all required vacation pay, benefits, salary, severance, termination and other amounts payable to such terminated employees. The Buyer may, prior to the Closing Date, offer employment to those employees which it, in its sole discretion, determines to hire. The Seller will indemnify the Buyer against any and all vacation pay, benefits, salary, severance, termination and other amounts payable to such terminated employees as of the Closing Date.
 
Effect of this Letter of Intent
 
Notwithstanding that this letter of intent contains many of the essential points regarding the transactions described herein, this is not intended to be a legally enforceable agreement and no cause of action shall arise in respect of the signing hereof.
 
 
Please sign the enclosed copy of this letter of intent and return it to us on or before Date, as confirmation of the status of our negotiations. We will then instruct our lawyers to commence drafting the Asset Purchase Agreement.
 
 
Yours very truly,
 
NAME OF BUYER
 
Per:
 
 
Name:   
Title:   
 
 
Confirmed this _____ day of _________________, 20____
 
NAME OF SELLER
 
Per:
 
 
Name:   
Title:   
 
You've found your form, but will you need others? If there are other related forms you may need in the future, it may be beneficial to look at our combo packages. On average, customers who purchase a combo package save 40% on the related forms they need. Take a look at the combo packages below to see if one is right for you.
Asset Purchase Combo Package Get 6 forms for just $39.95 Save 65%! Asset Purchase Combo Package for use in all states.

Looking for something else?