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title: "Change of Ownership: What to Expect"
canonical: "https://help.spoton.com/space/SK/4173496569/Change%20of%20Ownership%3A%20What%20to%20Expect"
format: markdown
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If your business is undergoing a change in ownership, SpotOn provides a clear process to ensure a smooth and compliant transition. This article outlines what to expect and how to prepare.

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## When to Submit a Change of Ownership Request

Submit a Change of Ownership request if:

- You are buying or selling a business that uses SpotOn services
- Ownership is changing between partners, owners, or legal entities
- You are taking over day-to-day operations of a business with an active SpotOn account

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## Step-by-Step Process

### 1. Submit Your Request

Contact our [Support team](mailto:support@spoton.com) to begin the change of ownership process. Please be ready to provide the following:

- *Existing account holder's name*
- *New owner’s full name*
- *Best contact number for the new owner*
- *Date the ownership transfer will take place*
- *Whether a new menu build is required*

### 2. Document Collection

Our team will request the following documents from the new owner:

- Signed Merchant Processing Application & Agreement- *provided by SpotOn*
- Signed Equipment Transfer Agreement (ETA)- *provided by SpotOn*

> 📝 We typically request the previous owner's signature on the ETA.   
> 📝 If their signature cannot be obtained, the following documentation will be required in its place.
> 📝 
> 📝 - Bill of sale
> 📝 - Proof of change in the Secretary of State
> 📝 - A death certificate is required in the event of an owner's passing. If a death certificate is unavailable, trust documents may be provided as an alternative.
> 📝 - Tax exemption letter (Non-profit)

- EIN and/or business license
- Voided check (to verify the new bank account)

### 3. Underwriting Review

The Underwriting team will review the submitted documents and verify business credentials.

### 4. Menu and Business Configuration

SpotOn will coordinate with the new owner to:

- Update menus or product catalogs
- Adjust tax settings, pricing, or hours of operation
- Set up staff user access and permissions

### 5. Hardware Transfer and Setup

We’ll coordinate:

- Reassigning hardware (e.g., terminals, printers)
- Ensuring all equipment is correctly linked to the new business account

> ❌ Funds will not be deposited into the correct account until this hardware update is completed.

### 6. Go-Live and Confirmation

Once setup is complete:

- The new owner’s account will be activated
- The previous account will be closed to avoid double billing
- A confirmation email will be sent with a summary of changes

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> ✅ ## Training and Support

Live webinar training is available for new owners and their staff. Registration details will be provided during the onboarding process to help your team get started with SpotOn tools.

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## Estimated Timeframe

Most Change of Ownership requests are completed within **5–10 business days**, depending on how quickly documentation is returned and setup requirements are met.

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> ⚠️ ## Important Notes

- The outgoing owner must authorize the ownership change.
- Delays in document submission or approvals may pause the process.
- **SpotOn is not responsible for transferring funds** from the outgoing owner’s bank account to the new owner. Please coordinate any financial arrangements directly.
- Early notification is critical to avoid delays or disruptions in merchant funding.

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