Acquisition of sole proprietorship

Scavanger007 (student) (73 Points)

03 September 2012  

A Sole Proprietor business has the Proprietor's Residential Properties and Vehicles appearing in his balance sheet. 
Now suppose a Pvt. Ltd company plans to absorb that Sole Proprietor business. Can it acquire those properties and vehicles during acquisition. Can/Will the pvt. ltd. company have to make those properties in its name through transfer agreement?