An asset transfer agreement is a type of legal binding contract that is made between two parties; one of whom is the Transferor of the asset while the other is the Transferee or someone to whom the asset is being transferred to. An asset transfer agreement incorporates the various facets of transfer of assets, and takes into account the assumed liabilities, any guarantees, indemnities, and warranties.
[ Also Read: Asset Purchase Agreement ]
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Sample Asset transfer agreement
Asset Transfer Agreement
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This agreement is made between the Transferor and the Transferee on the effective date of 11th November, 2011.
Transferor represented by
Mr. David Webb
Address: 5824 Nolensville Pike, Nashville, TN 37211
Contact number: (615) 331-4666
Transferee represented by:
Mr. Noah Vosen
Address: 5851 Mercury Dr, Dearborn, MI 48126
Contact number: (734) 242-2280
Terms and Conditions:
- On the Closing Date 11/11/2011 (MM/DD/YY), the Transferor shall transfer, assign, and convey the subject, terms, and conditions that have been set forth in this Asset Transfer Agreement, to the said Transferee, and the Transferee shall receive and then assume all the said Transferred assets from the Transferor.
- The Transferred Assets being Transferred to the Transferee according to this Asset Transfer Agreement consist of title, right, and interest of the Transferor in and towards the various assets, properties, and rights belonging to different kind, nature, and description, both intangible and tangible (including good will), whether personal, real, or mixed, whether contingent, accrued, or otherwise as held by Transferor.
- The Transferee mentioned in this Asset Transfer Agreement is duly incorporated and their existence has been validated as an individual or a limited liability company and they are in good standing with the laws of the State of Michigan. The Transferee also has the required corporate power to carry on with its business as is now conducted.
This Asset Transfer Agreement shall be active when the parties “Transferor” and “Transferee” set their seals as on the date 11/11/2011 (MM/DD/YY).
SIGNED FOR AND ON BEHALF OF TRANSFEROR BY:
…………………………………………………………….
Name:
SIGNED FOR AND ON BEHALF OF TRANSFEREE BY:
…………………………………………………………….
Name: