How to buy an assisted living. This week we will be discussing the “Representations and Warranties” section of the typical asset purchase agreement used when buying or selling a residential assisted living home. These are found in the “Agreement” Section of the asset purchase agreement.
Read MoreWhat 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
Read MoreIf 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.
Read MoreWhat is the difference between a “Background,” “Preamble,” “Recitals,” or “Whereas” sections of a contract in an Asset Purchase Agreement.
Read MoreHere 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.
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