Component 2: Assumptions and Release of Obligations Form

Now that we have the ESA as the core agreement which individuals can be bound to, we need a signatory method that works for our use case. One of the core functions of how Tadaima Co-ownership works is dependent on not knowing who all the relevant stakeholders to an agreement are at the onset. Traditionally when drafting a contract, all the terms are defined and drafted, they’re reviewed by each of the relevant stakeholders, and then each party signs to agreeing to fully form an executed contract. And from that moment forward, it is up to each of the relevant parties to perform and to follow through on what they committed to in the contract. But not every agreement starts at the onset knowing how everything will unfold, and most agreements made, don’t always unfold as they were defined. In contracts, this is where amendments and exhibits come into play. The core contract establishes the baseline, and it is built upon with such. Tadaima uses this same model to create the co-owner chain.

The Co-Owner Chain

Effectively the body of the ESA is the core contract that is created at the onset of any Tadaima Co-Owned Home, and amended to it is what is called the Assumption and Release of Obligations Form. In our example of the relay runners earlier , each time there is a handoff of the home, a new Assumptions and Release of Obligations Form is added as an exhibit to the ESA. And this is permissible for however long the ESA is in effective for. What this looks like as a document stack is:

Document	Next Co-Owner	Prior Co-Owner	Date
ESA	John, Josh	NA	01/01/2020
Exhibit A	John, Josh, Jess (Josh’s Girlfriend)	John, Josh	11/12/2021
Exhibit B	Josh, Jess	John, Josh, Jess	03/18/2023
Exhibit C	Jess, Jennifer	Jess, Josh	06/03/2025

The story behind this document stack, as an example of what one co-owner chain might look like, is that John and Josh started out Co-Owning a Tadaima Home on 01/01/2020. Then on Nov 12th, 2021 Josh’s longtime girlfriend moves in with the two of them and becomes a co-owner as well. Eventually Josh and Jess want a place to themselves, and John is OK with this, so on March 18th, 2023 he finally moves out, and Josh and Jess are the current co-owners. Eventually though, Josh get’s a great opportunity in a different city for his career, but Jess wants to stay, so they breakup, Jess stays in the home and get’s a housemate Jennifer to co-own with her. So while the individuals we started with are no longer in the home at the end, we have an accurate chain of how long each person was in the home to know what their were responsible for while they were there, and what their entitled to once the ESA is up and the home is sold. This is how the co-owner chain functions.