NEW YORK--(BUSINESS WIRE)--EasyKnock, the leading provider of sale-leaseback solutions for homeowners, announced a decisive legal victory today, as a win in arbitration awarded the company $153,000 (including EasyKnock’s attorneys’ fees) and rejected claims of fraud and misrepresentation by two plaintiffs. The ruling confirms that EasyKnock’s sale-leaseback was “a valid and enforceable contract.” The arbitrator also affirmed that “EasyKnock performed all conditions precedent under the Lease,” fully affirming the company's business practices.
The claimants attempted to assert that their sale-leaseback agreement with EasyKnock was a “disguised loan” under Texas law. However, the arbitrator rejected the plaintiff’s arguments and ruled in favor of EasyKnock, noting that the complainants willingly signed a clear sales agreement, general warranty deed, and lease agreement that distinctly laid out the terms of the transaction as a sale-leaseback. The arbitrator dismissed their claims against the company and awarded EasyKnock damages and attorneys’ fees for their failure to pay rent under the parties’ lease.
“We are thrilled with the arbitrator's ruling, which affirms the integrity of EasyKnock's business model and clearly identifies our sale-leaseback as a true sale,” said EasyKnock Co-founder and CEO Jarred Kessler. “This victory is a bold statement that EasyKnock operates in full compliance with the law and provides a valuable, lawful option for homeowners to access their equity.”
The ruling further emphasized that EasyKnock’s purchase of the claimants' property was at market value, and that EasyKnock paid off their mortgage, paid property taxes, provided them an option to repurchase the home, and provided property management services under the lease. The arbitrator also awarded EasyKnock $153,000, underscoring the baselessness of the plaintiffs’ lawsuit.
“EasyKnock's sale-leaseback solution continues to provide a non-lending alternative for homeowners facing financial difficulties,” continued Kessler. “This ruling reaffirms that our model is not only innovative but also entirely legal. We are committed to helping more homeowners secure financial stability through our transparent, fair sale-leaseback agreements.”
EasyKnock remains dedicated to providing homeowners with alternative financial solutions, offering flexibility and security without adding to their debt burden. To read the Motion to Confirm Arbitration Award, please click here.
About EasyKnock
EasyKnock is the first-to-market, home equity solutions platform company in the U.S. In 2023, EasyKnock announced the development of its platform, an extensive suite of products and services that will provide consumers alternative ways to buy and sell, finance new homes, and utilize their equity. Headquartered in New York City and founded in 2016, EasyKnock helps U.S. homeowners unlock their financial freedom through non-loan programs. For more information about EasyKnock, please visit www.easyknock.com.
