Direct sources. Clear status. Practical public information.
Reviewed November 12, 2026 · general U.S. small-business diligence.
The U.S. Small Business Administration describes business assets, balance-sheet liabilities, and the need for a sales agreement that lists inventory and does not omit assets or liabilities. A practical buyer still needs evidence for each transfer item.
Four-field evidence card
| Field | Questions to document |
|---|---|
| Asset identity | What exactly is included or excluded? Serial, account, license, contract, inventory count, location, valuation date. |
| Ownership and transfer | Who owns it? Is transfer permitted? What consent, assignment, title, access, or intellectual-property right is required? |
| Condition and dependencies | Observed condition, inspection date, maintenance, warranty, software/data dependency, repair and replacement assumption. |
| Liability and restriction | Lien, lease, debt, tax, claim, recall, employee/customer obligation, environmental or regulatory restriction; evidence state and reviewer. |
Reader action
- Map every sale-agreement line to evidence and an owner.
- Mark seller-reported, third-party-verified, buyer-observed, disputed, and unknown separately.
- Keep unknown out of the zero column.
- Use responsible legal, accounting, tax, insurance, technical, and operational reviewers before commitment.
This is not a valuation, title opinion, lien search, legal conclusion, tax treatment, or recommendation to buy.
Foundation and source
Public-information notice: This Pulse is a dated, source-linked research summary for general educational use. It reports what cited controlling sources state as of the review date. Citation does not mean endorsement, partnership, certification, or independent confirmation of every assertion. This is not individualized legal, medical, tax, accounting, investment, insurance, cybersecurity, licensing, regulatory, procurement, employment, real-estate, or other professional advice. Rules and facts can change. Verify the controlling source, jurisdiction, effective date, and your own facts before a consequential decision.