Glossary · People and paperwork
In short
This is the person legally appointed to manage the assets and liabilities of a deceased person's estate. They are responsible for carrying out the terms of the will or managing the estate according to law.
If a business owner passes away, the executor will be your primary contact for the sale. Verify their legal authority to act on behalf of the estate; they'll need to sign the purchase agreement and other closing documents.
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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