Glossary · People and paperwork
In short
An executor is the person named in a will, or appointed by a court, to carry out the wishes of the deceased and manage their estate. They handle asset distribution and debt settlement.
You might deal with an executor if you're acquiring a business from a deceased owner's estate. The executor's authority to sell the business must be confirmed through probate court documents. This can add complexity and time to the deal, so be prepared for additional legal steps.
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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