The Business Assets – How to Buy a Residential Assisted Living

What are “Business Assets?”

Business assets are the tangible and intangible items that a business owns or uses to operate and generate income.

Tangible and intangible items are two categories of business assets. Tangible items are those that have a material existence and can be seen, touched, or measured. Examples of tangible items are furniture, fixtures, equipment, inventory, licenses, permits, contracts, HR files, resident records, customer lists, goodwill, trademarks, domain names, and trade secrets

The "Agreement" Section - How to Purchase a Residential Assisted Living

If you are planning to buy or sell an assisted living or group home business, you need a legal document that outlines the terms and conditions of the transaction. In earlier blogs have covered the first paragraph and the background sections of the asset purchase agreement. The first of several elements of the Agreement portion of the asset purchase agreement is covered here.

How to Prepare for an Assisted Living Business Transfer in 2024

Here is a list of a few of the essential pieces of information that you need immediately on hand to help your attorney prepare the asset purchase agreement (aka, “Purchase and Sale Agreement” or “Business Purchase Agreement”) of an assisted living residence.