Glossary · Doing the deal
In short
This is a sworn statement confirming that no one has a lien or claim against a specific asset or property. Buyers use this to ensure they're acquiring assets free and clear.
During closing, your lender will require the seller to sign this affidavit, especially for real estate or significant equipment. It's a critical document for your title company and lender to confirm that there are no hidden encumbrances that could jeopardize your collateral. Verify all lien searches.
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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