What does asset purchase mean?

asset purchase meaning in Law Dictionary

whenever a buyer and vendor agree to offer a companies possessions. Only the arranged possessions can be purchased and retitled. A new owner must determine the liabilities to battle.

asset purchase meaning in Business Dictionary

arrangement between buyer and vendor to obtain a company's assets. In a secured asset acquisition, only specified assets transfer ownership from vendor to customer. Possessions should be re-titled to the brand-new owner having the capability to figure out which liabilities would be believed.