This article outlines the mandatory and supplemental documentation required to verify your RWA Property Claim. Please review each section carefully to ensure your submission meets the verification standards for ownership and property status.
Table of Contents
- Property Deed
- Homeowner’s Insurance
- Property Tax Document
- Properties with Multiple Homeowners
- Additional Proof of Ownership Documentation
- Next Steps
Property Deed
The property deed is the legal document that proves ownership of the property.
This document confirms:
- The legal owner(s) of the property
- The property address
- The legal description of the property
The deed must be fully executed and recorded. If there are multiple owners listed on the deed, additional documentation may be required (see sections below).
Homeowner’s Insurance
Homeowner’s insurance documentation verifies that the property is currently insured.
Typically, we require:
- A declarations page (Dec Page)
- Proof the policy is active
- Coverage limits
- The property address matching the deed
Active insurance coverage protects both the homeowner and the lender against potential property damage or loss.
Property Tax Document
Property Tax Document confirm the current tax status of the property, including the Tax Assessed Value. This information is used to establish your baseline for yield generation and confirm ownership.
Please ensure your submitted statement includes the following:
- Homeowner(s): Legal names matching the property Deed.
- Date: Must reflect the current or most recent tax year.
- Tax Assessed Value: The official assessed figure (TAV).
Properties with Multiple Homeowners
If a property associated with an RWA Property Claim is legally owned by more than one individual, additional security and consent measures are required. To maintain the integrity of the 100% unencumbered status, all parties on the title must be verified.
Note: Only one claim may be active per property. A second homeowner cannot file a separate claim for the same asset.
1. Identity Verification for Secondary Owners
The second homeowner is required to complete a formal Identity Verification (IDV) process. Please ensure the following documents are prepared:
- Valid Government-Issued ID: A high-resolution photo of the front and back of a current Driver’s License or Passport.
-
Verification Selfie: A clear photograph of the secondary homeowner holding their ID alongside a handwritten note. The note must include:
- Today’s Date
- Full First and Last Name (as it appears on the ID)
- Legal Signature
- The phrase: "Excited to claim RE at Peoples Reserve"
Important: All text on the ID and the handwritten note must be perfectly legible. If any information is blurred or obscured, the application will be rejected and a resubmission will be required.
2. Multiple Ownership Release Form
In addition to identity verification, a Multiple Ownership Release Form must be downloaded, completed, and uploaded to the claim application.
This legal document serves as formal confirmation that:
- Awareness: The secondary homeowner is fully aware of the RWA Property Claim request.
- Consent: The secondary homeowner explicitly consents to the property being utilized within the Peoples Reserve ecosystem.
- Agreement: All listed owners on the property title agree to the terms and conditions outlined in the RWA agreement.
Failing to provide a signed release form from all parties on the title will result in the claim being denied during the verification stage.
Additional Proof of Ownership Documentation
While not required, to supplement your Deed, Homeowners Insurance, and Property Tax Document, you may upload any additional records that further establish your legal claim and active possession of the property.
Providing a comprehensive "ownership history" can often expedite the verification process. Recommended supplemental documents include:
- Closing Disclosure or Settlement Statement: The final signed document from when you purchased the home (often called a HUD-1 or Closing Disclosure). This provides a historical link between the previous owner and your current deed.
- Certificate of Title or Title Policy: The owner’s title insurance policy issued at the time of purchase. This is a powerful secondary proof that the title was legally cleared and transferred into your name.
- Utility Verification: A recent water, electric, or gas bill in the claimant’s name. This confirms the owner of the property.
- Probate or Trust Documentation: If the property was inherited or is held within a Family Trust, providing the Letters of Testamentary or Trust Certification confirms your legal authority to claim the asset on behalf of the estate.
- Property Survey or Plat Map: A certified land survey that matches the legal description on your deed. This verifies the physical boundaries of the asset you are claiming.
Pro-Tip: When uploading supplemental documents, ensure that the property address and owner’s name are clearly visible and match the information provided in your primary application.
If you have questions about any required documentation or are unsure whether your documents meet submission standards, please contact support before uploading.