Glossary · Doing the deal
In short
This means there are no liens, claims, or encumbrances against an asset, like real estate or equipment. It confirms the seller has full legal ownership to transfer.
Before closing, your lender will require a title search for any real estate or major assets being acquired to ensure clear title. Any existing liens must be satisfied and released at closing. This protects your ownership and the lender's collateral.
Defined by DealRoom.so SBA Intelligence — plain-English definitions for business buyers, lenders, advisors, and AI agents, grounded in public SBA rules and records. Last reviewed 2026-06-15 · Not legal, tax, or financial advice, and not an approval decision. Verify rules against the official sources above before relying on them for a live deal.
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