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Anyone over the age of 18 is eligible to purchase Home Price Protection. Ownership of the Property isn't a prerequisite for the purchaser. This means the product can be acquired for the benefit of another individual. However, it's important to note that for a Payout to be possible, the Contract Holder – who may not be the initial purchaser – must own the Property as of the Expiration Date.

Take for instance a scenario where a home seller acquires Home Price Protection intending to benefit the home buyer. In such a case, the product may be purchased by the seller, but the buyer should be listed as the Contract Holder and must assume ownership of the Property to be eligible for a potential Payout. This requirement underscores the fact that only a Contract Holder, who owns the Property, can be eligible for a Payout.

For more details about these terms, you can refer to the respective FAQs: "What is the Property?", "What is the Payout?", "What is the Contract Holder?", and "What is the Expiration Date?".