Glossary · People and paperwork
In short
An estate refers to all the property and debts owned by a person, especially at the time of their death. If you're buying a business from a deceased owner, you'll be dealing with their estate.
When acquiring a business from an estate, you'll need the estate executor to sign all sale documents. Ensure they have the legal authority to sell the business, which often requires court approval, adding complexity and potential delays to the 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.
Know what you'll need before you apply
Tell us about the deal and who's buying — we'll flag the guaranty, eligibility, and paperwork issues that slow SBA approval before they cost you time.
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