You Don’t Own What’s Not Listed
We saw an asset schedule once that said: “All equipment on site.” That’s it.
Problem: the “site” also housed the seller’s hobby woodworking tools, their brother’s trailer, and a leased forklift.
Buyers: get serial numbers. Get photos. Get clear.
“General” language will not protect you when there’s a dispute. We write it tighter because we’ve had to clean up the loose ones.
Better yet, buy "all of the assets of the Business" and let the seller list what's excluded!