Inventors:
Jeffrey GELLER - New York NY, US
Robert M. ROSENBERG - Scarsdale NY, US
Richard S. O'CONNELL - Morristown NY, US
Paul C. SCHACK - New York NY, US
Assignee:
RS Reinsurance (Bermuda) Ltd. - New York NY
International Classification:
G06Q 90/00
Abstract:
Methods are provided for lease guaranty services. A landlord enters into an arrangement with a lease guaranty service provider including an agreed upon lease guaranty policy to cover a rental property associated with the landlord. Under the lease guaranty policy, the landlord is a beneficiary and is bound to some contractual duties. A tenant, interested in renting the rental property, enters into a lease guaranty participation agreement with the lease guaranty service provider, which provides that the lease guaranty service provider pays the landlord a claim amount, resulted from the tenant's failure to comply with a lease signed between the tenant and the landlord for the rental property, and the tenant is legally liable to the lease guaranty service provider.