Ending the Agreement
Unison Process
1 min read

Ready to bring our partnership to an end? There are four ways in which your Unison greement can come to a close.

Sell your home

You’re allowed to sell your home, which ends your Unison agreement, at any time. Keep in mind that if you sell your home before the 5-year milestone, Unison does not share in any decline in value.

When your home sells, the amount owed to Unison will be based on the Ending Agreed Value of your home - typically determined by the open market sale price. This does not include any closing costs, seller concessions, taxes, or other expenses incurred while selling the home.

Special Termination

At any time, you can choose to Special Terminate, or buy out of, the agreement without selling your home. In this case, we will use a third-party appraisal to establish the Ending Agreed Value. The process is similar to selling your home, except we will use the appraised value instead of a sale price - since you’re not selling. The main difference with a Special Termination is that Unison does not share in any decrease of value. This means that the Ending Agreed Value for your property will be at least equal to the Original Appraised Property Value, even if your property value has decreased since the start of your agreement. Thus, at a minimum, you’ll have to pay the Initial Payment (together with any amounts attributed to the Risk Adjustment).

After 30 years

If 30 years have passed, and you haven’t otherwise ended the agreement, you’ll have two options for terminating the agreement at the 30-year mark. You can Special Terminate (buy out) or sell your home. Since our interests are aligned in either case, we will always try to work with you to help you receive as much value from your home as possible.

The last signatory passes away

In the case that everyone on the agreement has passed away, Unison will work with the estate or heirs to conclude the agreement, by either selling the property or paying Unison the value of our interest in the home. It’s important to discuss your Unison agreement with members of your family who may be impacted, as well as anyone living in the house who is not a signatory to the agreement, as they may not be able to remain in the house in the event that the home is sold.

The content on this page provides general consumer information. It is not legal or financial advice. Unison has provided these links for your convenience, but does not endorse and is not responsible for the content, links, privacy policy, or security policy of the other websites.

Get started with Unison today
See how much equity you can access with a Home Equity Sharing Agreement

Related posts

Reverse mortgages can be complicated and may not be right for everyone. Below, we explain how a reverse mortgage works, including how much it pays and how much it costs.
Home equity is incredibly valuable, but often inaccessible without taking on increased debt. Many homeowners in equity-rich, cash-poor situations can benefit from partnering with Unison.
It's one thing to spend less and save more. But when it comes to finding the perfect balance between paying off debt and building your savings? This article is for you.