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The Home Equity Theft Prevention Act ("HETPA", NY RPL §265-a) is a New York State law passed on July 26, 2006, to provide homeowners of residential property with information and disclosures in order to make informed decisions when approached by persons seeking a sale or transfer of the homeowner’s property, particularly when homeowners are in default on their mortgage payments or the property is in foreclosure. == Covered contract == A contract is covered if it is either (i) currently in foreclosure or on a tax lien sale list; or (ii) the owner is in default (behind on mortgage payments by 2+ months) and the sale involves a reconveyance agreement. A reconveyance arrangement has two elements: (i) A sale, mortgage, lien, encumbrance or any other method which allows an “equity purchaser” to obtain legal or equitable title to all or part of the property; and (ii) Some agreement or promise to the “equity seller” that he/she can regain ownership of the property (e.g., the purchase agreement, option to purchase, lease, etc.) There are some key requirements for a valid reconveyance agreement. The equity purchaser needs the equity seller’s permission to resell the property to anyone else for so long as the equity seller has a right to buy the property back. Either (i) title to the property must eventually be reconveyed to the equity seller; or (ii) the equity purchaser must have paid seller at least 82% of the fair market value of the property within 120 days of the eviction or voluntary relinquishment by the equity seller. The equity purchaser must confirm that the equity seller has the “reasonable ability” to buy back the property and the deed must recite that the property is subject to reconveyance and the terms of the reconveyance arrangement. 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Home Equity Theft Prevention Act」の詳細全文を読む スポンサード リンク
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