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Submitted by Joe on March 14, 2008 - 8:50am.

If you crunch the numbers, the monthly income provide by this program seems relatively trivial compared to the cost of owning and maintaining the realty required. I can't see how there will be many takers.

 
Submitted by on March 14, 2008 - 9:57am.

This program is for people who already own property and I assume they intend to maintain their property. So, there is no additional cost that they incur... The clients I have spoken to are relieved to find out that they can get a lump sum of cash that they can put to work today vs. hoping that their real estate will appreciate - especially in this market! Sounds like a win-win to me.

 
Submitted by Carroll Straus on March 14, 2008 - 7:20pm.

I don't see any reason for an agent to receieve a commission for this-- it's not a sale any more then a transfer in to a trust is, or a quit claim to a family member. I do see a possible need for title insurtance, as much as i hate to give the title companies any more business. But a commission? for what?

This should be a flat fee.

I also think there woud be a need to make sure the estate plan already in place was updated-- otherwise you will have legal problems when the property is left to a benefiary with no mention of the new "equity" parter. (Or the Probate Court might have a dim view of the equity share-- allegations of undue influnce would be easy to make, and maybe to prove.)

If protections for all that are incuded in a commission then maybe it would be warranted! But somehow i doubt they would be. But wiht proepr protection for the owner, this could be a good thing.