Wrapping upLet’s look at the scope of ways that
you can wrap up our agreement together.

You Sell Your Home

When you decide to sell, simply let Unison know. At that time we typically require a home appraisal. This will always be done by an independent, approved third‐party appraisal firm and will be paid for by you. This happens for a few reasons:

1) To help determine the value of your Remodeling Adjustment (if applicable)

2) To provide an unbiased measure of your home’s value

3) To decide if a property inspection is needed (in instances where a Deferred Maintenance Adjustment might be requested).

When your home sells, Unison will then calculate the payment owed to us based on your home’s value. Your home’s value is called the Ending Agreed Value and it is typically equal to the sale price (the exceptions are cases where adjustments are made due to remodeling considerations, poor maintenance, or where the sale is within the first three years). Keep in mind that The Ending Agreed Value does not include deductions for closing costs, taxes, documentary fees, mortgage loans, other liens or secured loans, sales commissions, or appraisal expenses. These expenses are your responsibility.

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You Request A Special Termination
Of Your Unison HomeOwner Agreement

After three full years have passed, you have the right to end your Unison Agreement by requesting a Special Termination. You can do this for whatever reason you wish. However, if you choose to do this, Unison does not share in any decrease in the home’s value (ie any decline in home value is solely yours). Clients who terminate the contract this way will, at best, break even with Unison, so please keep this in mind.

If you do decide to request a Special Termination, you need to first notify us of your intent. Unison will then provide you with a written application for Special Termination, which you must complete and return. An appraisal will then take place, and in some cases, a property inspection will also be required. Based on the appraisal and inspection reports, Unison will calculate your Special Termination Price. You’ll send the payment and we will release to you all relevant documents (such as quitclaim deeds, lien releases, etc) in order to fully terminate our investment in your home.

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The Agreement Reaches The End Of The Maximum 30 Year Term

If 30 years pass and you haven’t otherwise ended your Agreement with Unison, there are two options available to you:

  • 1) Pay us the value of our interest in your home at that time
  • 2) Sell your home.

It’s important you understand that if for some reason you choose not to end the Agreement by taking either of these steps, Unison has the right exercise its option and purchase its interest in your property. In rare cases this may even involve Unison putting the house into foreclosure. Again, since our interests are aligned – which is to increase the value of your home – we will always try to work with you and give you every opportunity to sell your home yourself, provided you give Unison appropriate notice.

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The Last Signatory To The Unison Home
Owner Agreement Passes Away

While difficult to think about, it’s crucial that clients understand how a Unison Agreement might affect their family and estate in the event of their death. Below we’ll discuss what happens in this situation. Note: this only applies if all signatories to the Unison Agreement pass away; as long as one or more of the signatories is alive, the Unison Agreement is still valid.

In the case that everyone has passed away, the client’s heirs (or estate) will need to work with Unison to end the Agreement by either 1) Selling the home or 2) Paying Unison the value of its interest in the home at that time.

While a reasonable amount of time will be provided to allow heirs/the estate to decide what they want to do, we strongly recommend you discuss your decision to enter into the Unison HomeOwner Agreement with your family and heirs before you sign your agreement.

Additionally, your Agreement with Unison also has the potential to impact family members who live in your home but who are not co-owners of the property with you. Because the last signatory’s death requires the house be sold or a payment made to Unison, this can affect their ability to remain living in the home in cases where it winds up being sold. To provide full transparency, Unison may ask you to verify (in writing) the names of any non-signatories living in your home, as well as confirmation that you notified them about your Unison contract.

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What if there’s a disagreement?

Toward the end of your Unison Agreement, your home may be assessed by third-party inspectors to determine your home’s fair market value, your Remodeling Adjustment, and/or your Deferred Maintenance Adjustment. While we always use reliable, impartial inspectors, we are happy to work with you in cases where you feel an assessment is inaccurate. If there is any disagreement, you have a few options:

  • 1. Request a reconsideration. Either party may do this and it’s the responsibility of the requesting party to pay the costs associated with the inspection. If both parties are requesting additional reports, the cost is shared.
  • 2. If there’s still a disagreement following a second inspection, we’ll use a professional arbitration service to work things out.
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Take me back to the HomeOwner beginning terms and payment structure

how it works

What does the lifecycle of a HomeOwner agreement look like?

Sample Scenarios

We want you to make the best decision for you and your family. And while we do our best to explain everything, we highly recommend you carefully review the Unison HomeOwner Agreement, the Unison Legal Documents, and other materials available online. It’s a good idea to do this with family members, as well as with your legal and financial advisors. In fact, we advise you to do so. Your program specialist will be happy to provide you with all the documents necessary.

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