Glossary · People and paperwork
In short
This refers to property or assets that are legally owned by two or more individuals, commonly spouses. You care because if a key principal's spouse jointly owns significant assets, those assets might be considered for collateral or require the spouse to sign personal guarantees.
During underwriting, the lender will assess personal assets, including those jointly owned, to determine collateral and personal guarantee requirements. Be prepared for your spouse to be involved in signing documents if significant assets are jointly held.
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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