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Pay the builder every time you sell your house

innocent_white_lamb (151825) writes | more than 4 years ago

The Almighty Buck 5

innocent_white_lamb (151825) writes ""You don't pay your builder every time you sell your house" comes up in almost every discussion of intellectual property, royalties and the like.

New houses are now being sold with a condition that you must pay the builder 1% of the purchase price every time the house is sold over the next 99 years."

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This makes no sense. (1)

Prostate of Grace (1885118) | more than 4 years ago | (#33349404)

Next step: Builder collects fees for breathing air in house. Mortgage companies collect fee for managing collection of air fee. Builder allowed to sue for uncollected fees in the event of homeowner death and subsequent non-breathing.

Copyright? (1)

hitmark (640295) | more than 4 years ago | (#33349522)

Are builders taking cues from artists and media companies now?

Why the hell not? (1)

Tootech (1865028) | more than 4 years ago | (#33349590)

This seems like plan seems like something that Wylie E. Coyote got from good old ACME....and yes it would fail....Like most of Wylie's plans. This has to be one of the dumbest ideas yet, how many people do you think would acyually go to a bulider that uses this plan, I would guarantee any builder that instituted this plan would see their sales plummet. How would they convince a potential client to go and build with them when they know that they will have this stigma attached to their house, who in the world would want to pay a builder the full amount for a house, and then have to pay again if for ever some reason they have to sell it. Not only that but what buyer would want a house with this little gem attached to it. I think some Builder got the idea while smoking a bowl of ganja. How else would you figure they got it? Any politian that backed this idea would be out of office the next term, its bad enough that builders avoid their cutomers when problems start occuring while the home is under warranty from the builder...most apply a band aid fix, and wiat till the warrant expires then tell you " oh your warranty is up...not are problem " There are more than enough bad builders out there, this plan sure wouldn't do anything to help their reputations any

This is some shady sh&t right here (1)

samoanbiscuit (1273176) | more than 4 years ago | (#33350984)

From TFA:

The company's plan is to monetize that future income -- essentially allowing developers to get paid now rather than later. To do that, Freehold would bundle together the estimated income from the future fees and sell that package to investors. It claims this new "asset" would be worth about 5% of the original home prices.

One company that is working with Freehold is Thieman Enterprises, a developer based in Ohio. "I think it's a fantastic program," said owner Ted Thieman. "I can get my development going again."

He said he needs the upfront cash to fund the building of infrastructure -- roads, sewers and other essentials.

This has less to do with intellectual property issues, and more to do with some lame justification for gouging consumers for more money. But didn't developers used to build infrastructure for decades without doing this? What's new now? I wouldn't be surprised if the same fine financial minds behind subprime mortgages and other horrible "innovations" were behind this...

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