FINANCIAL ARRANGEMENT AND METHOD FOR ACQUIRING AN ASSET
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United States of America Patent
Stats
-
N/A
Issued Date -
Jan 8, 2009
app pub date -
Jul 5, 2007
filing date -
Jul 5, 2007
priority date (Note) -
Abandoned
status (Latency Note)
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Abstract
A system and method of acquiring an asset by a purchaser. The method begins by a purchasing entity purchasing an asset. A contractual relationship between the purchasing entity and the purchaser is then established. The purchaser agrees to pay a periodic fee to utilize the asset and equity is built by the purchaser in the asset by conducting specified transactions. The purchaser pays periodic fees, thereby allowing utilization of the asset. The purchaser conducts the specified transactions with a partnership entity affiliated with the purchasing entity. Equity is then built in the asset by the purchaser by conducting the specified transactions. Total ownership of the asset is transferred from the purchasing entity to the purchaser when the equity equals a specified amount. Additionally, transaction fees may be incurred by the partnership entity to the purchasing entity for each specified transaction. The asset may be any valuable item, such as a home, vehicle or other real or personal property.
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