An Equity Sharing Agreement can last up to 30 years. During that time, you remain the homeowner — but both parties have an interest in protecting the property.
Ongoing Responsibilities
To keep the agreement in good standing:
- The home must remain your primary residence (at least 180 days per year).
- Mortgage, property taxes, and hazard insurance must remain current.
- Hazard insurance must cover typical risks in your area.
- After closing, Unison may take aerial photography for documentation purposes (accessible in your online portal).
Maintenance
Normal wear and tear is expected.
However, if significant deferred maintenance reduces the home’s value — for example, structural damage left unaddressed — a Deferred Maintenance Adjustment may apply at settlement.
To avoid any confusion later, a home inspection is typically completed before the agreement begins.
If Life Gets Complicated
If financial hardship arises, Unison offers two unique tools:
- Orderly Sale: If foreclosure becomes a risk, Unison may assist in coordinating a sale to help preserve equity and credit.
- Protective Advance: If a critical obligation like property taxes goes unpaid, Unison may advance funds to protect the property’s value. This is the only circumstance where interest is charged.
At the end of the day, we both benefit from protecting and maximizing your home’s value. So when it comes to major changes – like remodeling, filing for bankruptcy, or transferring ownership – open communication helps us work together to ensure success.
Disclaimer
This content is sponsored by Unison Agreement Corp. and is provided for informational and educational purposes only. It does not constitute financial, legal, tax, investment, or lending advice, nor is it a solicitation or offer.
The Unison Equity Sharing Agreement is not a traditional loan. It involves no monthly payments to Unison and no interest charges. In return, Unison shares in a portion of any future change (up or down) in your home’s value when the agreement ends (upon sale, refinance, buyout, or maturity). A Memorandum of Agreement and lien interest is recorded against your property, which may affect future refinancing or transactions. An origination fee and standard third-party closing costs apply.
Availability is limited to participating states only and is subject to eligibility requirements, credit review, income verification, and underwriting approval. Terms, fees, and conditions are subject to change. Home values can rise or fall, and there is no guarantee of any specific financial outcome. Tax consequences may apply.
Unison Agreement Corp. does not provide financial, tax, or legal advice. You should carefully review the full Equity Sharing Agreement documents and consult with your own qualified financial advisor, attorney, and tax professional to determine whether this product is appropriate for your individual situation.
For complete terms, current state availability, fees, risks, and eligibility, please visit https://www.unison.com or contact a Unison representative directly.