Method for securitizing retail lease assets
First Claim
1. A method for securitizing retail lease assets comprising:
- creating a leasing company;
acquiring leases from dealers into the leasing company;
issuing a financial asset to fund such acquisition;
securing the financial asset;
transferring the financial asset to a securities-issuing entity; and
offering a security backed by pools of the financial assets.
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Accused Products
Abstract
The present invention provides a new form of financial instrument for securitization of retail automotive and light truck lease assets. The instrument is supported by secured notes that are separately and independently secured by a first priority perfected lien on each related vehicle and lease (to protect the investment entity which creates securities sold to investors 27 and, thereby, the investors 27). The method of the present invention for creating the financial instrument includes creating a leasing company. The leasing company then acquires leases from dealers. In one embodiment of the present invention, termination value guarantees on the leases can be obtained. A financial asset is issued to fund the acquisition of the leases. In one embodiment of the present invention, a nominee titleholder and a registered lien are created on each leased vehicle. The financial asset is transferred to a securities-issuing entity. A security backed by pools of the financial assets is offered via a registered public offering or an exempt private placement transaction.
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Citations
20 Claims
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1. A method for securitizing retail lease assets comprising:
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creating a leasing company;
acquiring leases from dealers into the leasing company;
issuing a financial asset to fund such acquisition;
securing the financial asset;
transferring the financial asset to a securities-issuing entity; and
offering a security backed by pools of the financial assets. - View Dependent Claims (2, 3, 4, 5, 6, 7)
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8. A security comprised of the following attributes:
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the security being backed by a financial asset;
the financial asset being issued by a company having a portfolio of leases;
the leases having been acquired from dealers; and
each lease and financial asset pertaining to a particular vehicle. - View Dependent Claims (9, 10, 11, 12, 13, 14)
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15. A method for securitizing retail lease assets comprising:
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creating a leasing company which acquires leases from dealers;
obtaining termination value guarantees;
issuing a financial asset to fund the acquisition of the leases;
transferring the financial asset to a securities-issuing entity; and
offering a security backed by pools of the financial assets. - View Dependent Claims (16, 17, 18, 19, 20)
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Specification