Purchase and Sale Agreement - Wikipedia Purchase and Sale Agreement A Purchase and Sale Agreement ( typically referred to in the shorthand `` PSA '' ), is an agreement between a buyer and a seller of real estate property, company stock, or other assets. The person or company acquiring, receiving and purchasing the property, stock or assets is referred to as the `` Buyer '' and the person or company disposing, conveying and selling the stock or assets is referred to as `` Seller ''. The PSA will set out the various rights and obligations of both the Buyer and Seller, and may also require other documents be executed and recorded in the public records, such as an Assignment, Deed of Trust, or Farmout Agreement. In the oil and natural gas industries, a PSA is the primary legal contract by which companies exchange oil and gas assets or stock in an oil and gas business entity, for cash, debt, stock, or other assets. References Jump up ^ Simon, Paul. `` A Litigator 's Perspective on the Purchase and Sale Agreement ''. Drill Deeper. Gordon, Arata, McCollam, Duplantis, and Fagan, LLC. Jump up ^ Samuel, Hass ; Jolisa, Dobbs. `` The Purchase and Sale Agreement : The Seller 's View '' ( PDF ). Jump up ^ Byrd, Michael. `` Anatomy of a Purchase and Sale Agreement '' ( PDF ). Archived from the original ( PDF ) on 2014 - 05 - 13. This article related to natural gas, petroleum or the petroleum industry is a stub. You can help Wikipedia by expanding it. Retrieved from `` https://en.wikipedia.org/w/index.php?title=Purchase_and_Sale_Agreement&oldid=834169125 '' Categories : Petroleum production Sales Land use Petroleum stubs Talk About Wikipedia Add links This page was last edited on 4 April 2018, at 08 : 46. Text is available under the Creative Commons Attribution - ShareAlike License ; additional terms may apply. By using this site, you agree to the Terms of Use and Privacy Policy. Wikipedia ® is a registered trademark of the Wikimedia Foundation, Inc., a non-profit organization. About Wikipedia

Question: what is an agreement of purchase and sale
Answer: an agreement between a buyer and a seller of real estate property, company stock, or other assets