Equity release is where you take out a loan against the value of your home, using your home as security for the loan. Effectively, you sell your home to a financing company now, and you either receive a lump sum or a monthly payment for the rest of your life. You’ll still own your property until you die. The ownership will be surrendered to the financing company when you die. If the home is jointly owned, likewise, the ownership will be surrendered to the financing company only when the last joint owner dies.