{"ok":true,"canonical_url":"https://dealroom.so/glossary/jointly-owned-asset","api_url":"https://dealroom.so/api/public/glossary/jointly-owned-asset","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":"jointly-owned-asset","term":"Jointly-owned asset","group":"People and paperwork","definition":"This refers to property or assets that are legally owned by two or more individuals, commonly spouses. You care because if a key principal's spouse jointly owns significant assets, those assets might be considered for collateral or require the spouse to sign personal guarantees.","what_it_means":"During underwriting, the lender will assess personal assets, including those jointly owned, to determine collateral and personal guarantee requirements. Be prepared for your spouse to be involved in signing documents if significant assets are jointly held.","url":"https://dealroom.so/glossary/jointly-owned-asset","official_sources":[],"related":[{"slug":"marital-property-law","term":"Marital property law","url":"https://dealroom.so/glossary/marital-property-law"},{"slug":"personal-guarantee","term":"Personal guarantee","url":"https://dealroom.so/glossary/personal-guarantee"},{"slug":"collateral","term":"Collateral","url":"https://dealroom.so/glossary/collateral"}],"related_questions":[{"question":"Can an equity injection be comprised of unencumbered business assets already owned by the borrower prior to the acquisition?","url":"https://dealroom.so/for-lenders/questions/can-an-equity-injection-be-comprised-of-unencumbered-business-assets-already-owned-by-the-"},{"question":"Is a blanket lien on all business assets always required for a 7(a) loan, regardless of loan size or asset value?","url":"https://dealroom.so/for-lenders/questions/is-a-blanket-lien-on-all-business-assets-always-required-for-a-7-a-loan-regardless-of-loan"},{"question":"What if the business property is owned personally by the seller?","url":"https://dealroom.so/sba-7a/questions/what-if-the-business-property-is-owned-personally-by-the-seller"},{"question":"What is the difference between an asset and stock purchase in a buyout?","url":"https://dealroom.so/sba-7a/questions/what-is-the-difference-between-an-asset-and-stock-purchase-in-a-buyout"},{"question":"What if the business real estate is owned separately by the seller?","url":"https://dealroom.so/sba-7a/questions/what-if-the-business-real-estate-is-owned-separately-by-the-seller"},{"question":"Does the SBA loan program offer any specific benefits for veteran-owned businesses?","url":"https://dealroom.so/sba-loans/basics/does-the-sba-loan-program-offer-any-specific-benefits-for-veteran-owned-businesses"}]},"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 — Jointly-owned asset","url":"https://dealroom.so/glossary/jointly-owned-asset","source_type":"DealRoom Data"}}