The Term Ownership Center LLC was founded in 2008 to develop and market the Term Ownership Financing System after patent 7,346,567 and 7,395,233 were issued by the United States Patent Office.  Stephen M. Weeks, the inventor, is a Founding Partner of Weeks & Laird PLLC, a Tucson, AZ law firm. The law firm deals primarily with Real Estate and Contract Litigation.

It was while representing subprime borrowers against a recently failed subprime lender that Mr. Weeks realized the potential home saving aspect of a seldom used real estate tool.  "In the end, it comes down to a tool that has been around since at least the 1200's.  The only problem was, we did not have financial institutions able to implement the system broadly, and everyone had to give something they currently owned, such as a sword, in order to take advantage of this form of ownership.  Today, with financial institutions able to lend, and investors eager to earn a profit, Term Ownership is a perfect middle ground between renting and full ownership."