Weekly Real Estate News
Five North Carolina homeowners have filed a proposed federal class action against Unison Agreement Corporation and related entities, challenging the company’s home equity agreements and alleging the products were misleadingly marketed and should be treated as regulated mortgage loans.
The lawsuit, Petty et al. v. Unison Agreement Corporation et al., was filed Sept. 18 in the U.S. District Court for the Western District of North Carolina. Federal court records identify Lara Petty, Thomas Shiel, Leslie Shiel, Nikolas Moriates and Diana Moriates as plaintiffs. Defendants include Unison Agreement Corporation, Unison Midgard Holdings LLC and Odin New Horizon Real Estate Fund LP.
The complaint alleges the homeowners were placed into high-cost home equity sharing agreements and challenges the structure, marketing and terms of those agreements. The plaintiffs characterize the products as loans subject to mortgage and consumer-protection laws rather than the investment or option arrangements described by the defendants.
The allegations have not been adjudicated, and the filing of the complaint does not establish liability.
The North Carolina case adds to mounting litigation surrounding Unison’s home equity investment model. Court records show other cases involving Unison have been filed in several jurisdictions during 2026. In August, Unison-related defendants asked the U.S. Judicial Panel on Multidistrict Litigation to consolidate five federal actions pending in Colorado, the District of Columbia, Massachusetts, New Jersey and New York.
The litigation is significant for the housing-finance industry because home equity investment products have grown as an alternative way for homeowners to access equity without taking out a traditional home equity loan or making monthly payments. The legal disputes increasingly center on whether those arrangements should nevertheless be regulated as mortgage loans and what consumer-protection rules apply.
The North Carolina case is Petty et al. v. Unison Agreement Corporation et al., case number 3:26-cv-00749, in the U.S. District Court for the Western District of North Carolina.
Sources: U.S. District Court for the Western District of North Carolina docket; U.S. Judicial Panel on Multidistrict Litigation docket.
