{"ok":true,"canonical_url":"https://dealroom.so/glossary/executor","api_url":"https://dealroom.so/api/public/glossary/executor","data_freshness":{"sba_records_through":"2026-05-31","fdic_records_through":"2026-03-31","dealroom_last_updated":"2026-06-15","timezone":"America/Chicago"},"source_summary":["Public SBA 7(a) loan records","FDIC institution data","DealRoom lender and franchise enrichment"],"term":{"slug":"executor","term":"Executor","group":"People and paperwork","definition":"An executor is the person named in a will, or appointed by a court, to carry out the wishes of the deceased and manage their estate. They handle asset distribution and debt settlement.","what_it_means":"You might deal with an executor if you're acquiring a business from a deceased owner's estate. The executor's authority to sell the business must be confirmed through probate court documents. This can add complexity and time to the deal, so be prepared for additional legal steps.","url":"https://dealroom.so/glossary/executor","official_sources":[],"related":[{"slug":"trustee","term":"Trustee","url":"https://dealroom.so/glossary/trustee"},{"slug":"beneficiary","term":"Beneficiary","url":"https://dealroom.so/glossary/beneficiary"},{"slug":"due-diligence","term":"Due diligence","url":"https://dealroom.so/glossary/due-diligence"},{"slug":"loan-agreement","term":"Loan agreement","url":"https://dealroom.so/glossary/loan-agreement"}],"related_questions":[]},"caveats":["Definitions represent DealRoom's plain-English interpretation for buyers; verify regulatory terms against the official SBA and eCFR sources listed.","Not legal, tax, or financial advice, and not an SBA eligibility determination."],"citation":{"label":"DealRoom.so Glossary — Executor","url":"https://dealroom.so/glossary/executor","source_type":"DealRoom Data"}}