Method and system for reverse mortgage replication using remainder interests
First Claim
1. A method for providing a protected remainder interest financial instrument, the method comprising the steps of:
- submitting a seller to underwriting to accurately determine the seller'"'"'s remaining life expectancy; and
purchasing the protected remainder interest of an illiquid asset from the seller leaving the seller with a life estate.
1 Assignment
0 Petitions
Accused Products
Abstract
Methods for providing remainder interests with protection to a seller and mitigation of the potential consequences suffered by related financial instruments. The protected remainder interest financial instrument includes submitting a seller to underwriting to accurately determine the seller'"'"'s remaining life expectancy, and purchasing the protected remainder interest of an illiquid asset from the seller leaving the seller with a life estate. The method includes a client system for displaying information related to the transaction and inputting information related to the seller, illiquid asset, and the buyer. The client system is used to create a request to create the protected remainder interest. A server system accepts the request, stores the information in memory, and creates the protected remainder interest. The server system includes software for linking seller and buyers of protected remainder interests, which include terms of the protected remainder interest such as contingent sale or contingent purchase schedules.
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Citations
10 Claims
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1. A method for providing a protected remainder interest financial instrument, the method comprising the steps of:
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submitting a seller to underwriting to accurately determine the seller'"'"'s remaining life expectancy; and purchasing the protected remainder interest of an illiquid asset from the seller leaving the seller with a life estate. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9)
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10. A system for providing a protected remainder interest financial instrument comprising a computer configured to:
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submit information related to a seller to an underwriting routine to accurately determine the seller'"'"'s remaining life expectancy; and based on the seller'"'"'s remaining life expectancy, purchase for a buyer the protected remainder interest of an illiquid asset from the seller leaving the seller with a life estate.
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Specification