The Homeowner’s Guide to Equity Sharing with Unison, Part 5: Your Responsibilities

An Equity Sharing Agreement can last up to 30 years. During that time, you remain the homeowner — but both parties have an interest in protecting the property.

Ongoing Responsibilities

To keep the agreement in good standing:

• The home must remain your primary residence (at least 180 days per year).
• Mortgage, property taxes, and hazard insurance must remain current.
• Hazard insurance must cover typical risks in your area.
• After closing, Unison may take aerial photography for documentation purposes (accessible in your online portal).

Maintenance

Normal wear and tear is expected. However, if significant deferred maintenance reduces the home’s value — for example, structural damage left unaddressed — a Deferred Maintenance Adjustment may apply at settlement. To avoid any confusion later, a home inspection is typically completed before the agreement begins.

If Life Gets Complicated

If financial hardship arises, Unison offers two unique tools:

• Orderly Sale: If foreclosure becomes a risk, Unison may assist in coordinating a sale to help preserve equity and credit.
• Protective Advance: If a critical obligation like property taxes goes unpaid, Unison may advance funds to protect the property’s value. This is the only circumstance where interest is charged.

At the end of the day, we both benefit from protecting and maximizing your home’s value. So when it comes to major changes – like remodeling, filing for bankruptcy, or transferring ownership – open communication helps us work together to ensure success.