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!