D. Asset Identification_The LOI should identify the assets to be bought and sold in the transaction. For example: Assets of ABC Childcare, Inc. and real estate held in the name of XYZ, LLC and used in operations of ABC Childcare, Inc. Said assets and real estate are located at 123 Main Street, Any Town, Any State, 12345. E. The Purchase Price. F. Amount of buyer's good faith deposit and the company responsible for escrowing the deposit.
Although it is not a legally binding document, it is related to legal actions that will take place in the near future. Letters of intent related to bankruptcy are required from those who choose to file. For many individuals who are facing financial hardships, bankruptcy is the best way to overcome these difficulties and make a fresh start with their finances.