Glossary · People and paperwork
Jointly-owned asset
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.
What it means in a deal
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.
Related terms
Common questions about Jointly-owned asset
- Can an equity injection be comprised of unencumbered business assets already owned by the borrower prior to the acquisition?
- Is a blanket lien on all business assets always required for a 7(a) loan, regardless of loan size or asset value?
- What if the business property is owned personally by the seller?
- What is the difference between an asset and stock purchase in a buyout?
- What if the business real estate is owned separately by the seller?
- Does the SBA loan program offer any specific benefits for veteran-owned businesses?
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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