Glossary · People and paperwork
Estate Executor
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.
What it means in a deal
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.
Related terms
Common questions about Estate Executor
- What is the difference in repayment terms between real estate and non-real estate loans?
- If the business owns real estate, must the buyer also purchase the real estate with the business?
- If I'm buying a business with real estate, can I get a longer term if the real estate is a significant portion?
- When is personal real estate typically required as additional collateral?
- What environmental due diligence is mandatory for real estate collateral?
- How can life insurance support business succession planning and estate equalization?
Defined by CapBench 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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