Glossary · People and paperwork
In short
Legal rights in certain states where spouses equally own assets acquired during marriage. Buyers must be aware of these rights to ensure all necessary spousal consents are obtained from the seller to avoid future disputes over ownership.
In community property states, a non-owner spouse may have an ownership interest in business assets, even if not listed as a shareholder or signatory. Your lender will require spousal consents from the seller's spouse to waive any community property rights in the collateral securing your SBA loan and the business assets being purchased.
SOP 50 10 — Lender and Development Company Loan Programs
U.S. Small Business Administration · SBA Standard Operating Procedure
Last checked 2026-06-15. Official sources control — verify before relying on any rule for a live deal.
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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