Equity Agreement Form With Collateral In Illinois

State:
Multi-State
Control #:
US-00036DR
Format:
Word; 
Rich Text
Instant download

Description

In equity sharing both parties benefit from the relationship. Equity sharing, also known as housing equity partnership (HEP), gives a person the opportunity to purchase a home even if he cannot afford a mortgage on the whole of the current value. Often the remaining share is held by the house builder, property owner or a housing association. Both parties receive tax benefits. Another advantage is the return on investment for the investor, while for the occupier a home becomes readily available even when funds are insufficient.


This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

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FAQ

Examples of collateral documents are a security agreement, guarantee and collateral agreement, pledge agreement, deposit account control agreement, securities account control agreement, mortgage, and UCC-1s.

Examples of collateral documents are a security agreement, guarantee and collateral agreement, pledge agreement, deposit account control agreement, securities account control agreement, mortgage, and UCC-1s.

Collateral form (plural collateral forms) (linguistics) A synonymous but not identical, coexisting form (variation) of a word, such as an accepted alternative spelling.

Suppose you agree to rent an apartment. The lease agreement you sign with the landlord is the main contract. However, your landlord promises to fix the toilet drainage. Therefore, this is the collateral contract.

Examples of collateral documents are a security agreement, guarantee and collateral agreement, pledge agreement, deposit account control agreement, securities account control agreement, mortgage, and UCC-1s.

Examples of collateral documents are a security agreement, guarantee and collateral agreement, pledge agreement, deposit account control agreement, securities account control agreement, mortgage, and UCC-1s.

To secure this Agreement, the Debtor hereby agrees to provide the Secured Party with full right and title of ownership to the following property as collateral (the “Collateral”) to secure the debt listed in the “Debt” section of this Agreement: (Property name, address)

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Equity Agreement Form With Collateral In Illinois