Patent Publication Number: US-2019172162-A1

Title: Home/property equity surrender funds

Description:
In general—This process invention entails the ability for a home/property owner to receive funds based on the equity in their property without incurring a loan, or interest on the funds. There is no age requirement with respect to qualifying for the funds. 
    
    
     SPECIFICATION DETAILS 
     
         
         
           
             The funds received by the owner are not a loan 
             There is no interest charged on the funds received 
             There is no qualifying age 
             Satisfaction of the funds is not by way of traditional means, however are accounted for at the time of sale, transfer and/or replenishment of equity 
             Credit support of financial status is not required 
             There can be multiple surrender fund transactions, as approved by the financial institution 
             There must be a valuation of the property from which the fund amount is to be determined 
             In the absence of transfer sale of the property, the replenished funds will again be added as equity to the property—or treated as value to the property in the event of underwater property 
             In the event the financial institution reduces eligible funds as a fee to service, the fee is a one-time event for each surrender 
           
         
       
    
     BACKGROUND OF THE INVENTION 
     This invention pertains to the real estate field and investments. 
     Though there are numerous and distinct differences, the Reverse Mortgage concept has remote hints of similarity. 
     SUMMARY OF THE INVENTION 
     This equity process is advantageous in that owning individuals will be able to access funds contained in their property—without requirements concerning personal financial qualification, age requirements, securing a loan or interest against said property and without the issue of losing the property in the event sale or transfer is later an undesired choice.