System and method for insuring an entity against tenant default with respect to an income-producing property
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United States of America Patent
Stats
-
N/A
Issued Date -
Oct 27, 2005
app pub date -
Jul 13, 2004
filing date -
Apr 27, 2004
priority date (Note) -
Abandoned
status (Latency Note)
Importance
Abstract
According to one aspect of the present invention, a method is provided for insuring an entity with respect to an income-producing property including at least one tenant paying rent to the entity. In accordance with the method of this aspect, a policy is provided to an entity, where the policy defines a default of at least one tenant of the property based upon a financial inability of at least one tenant to pay rent to the entity. The entity can then be insured under the policy, where the entity is insured against loss of a income due to default of at least one tenant of the property. Additionally, the entity be a buyer arrangement engaged in a communication with a seller arrangement regarding the property. In such instances, the buyer arrangement can be insured after the parties conclude a real estate transaction involving the property.
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Cited Art Landscape
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