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Subsequent Events
 6 Months Ended
Jun. 30, 2020
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
Management has evaluated the impact of all subsequent events through the issuance of these interim condensed consolidated financial statements and has determined that there were no subsequent events requiring adjustment or disclosure in the financial statements, except as follows:

On August 13, 2020, AAMC and Front Yard entered into Termination and Transition Agreement (the “Termination Agreement”) pursuant to which they have agreed to effectively internalize the asset management function of Front Yard. The Termination Agreement provides that the Amended AMA will terminate following a transition period to enable the internalization of Front Yard’s asset management function, allow for the assignment of certain vendor contracts and implement the transfer of certain employees to Front Yard and the training of required replacement employees at each company. The transition period will end at the time that AAMC and Front Yard mutually agree that all required transition activities have been successfully completed (the “Termination Date”), which will occur no later than February 9, 2021. On the Termination Date, the Amended AMA will terminate, and AAMC will no longer provide services to Front Yard under the Amended AMA. Below are the material terms of the Termination Agreement:

•Front Yard will pay AAMC an aggregate termination fee of $46,000,000, consisting of the following payments:
◦$15,000,000 payable in cash within two business days after the execution of the Termination Agreement,
◦$15,000,000 payable in cash on the Termination Date, and
◦$16,000,000 payable in cash or Front Yard common stock, at the option of Front Yard and subject to certain conditions, restrictions, and limitations on the Termination Date.
•Front Yard will acquire certain assets from AAMC (which may include the transfer of certain operating assets and personnel or the exchange of the equity interests in Front Yard's and AAMC’s India subsidiaries and the transfer of AAMC’s Cayman subsidiary) for an aggregate purchase price of $8,200,000, a portion of which may be paid in Front Yard common stock, at Front Yard’s option and subject to certain conditions, restrictions, and limitations.
•Front Yard will continue to pay Base Management Fees to AAMC under the Amended AMA in the amount of $3,584,000 per quarter through the date that Front Yard delivers written notice to AAMC that the transition has been satisfactorily completed, subject to proration for partial quarters.
•AAMC has agreed to vote any shares of Front Yard common stock that it receives in connection with the termination in accordance with recommendations of the Front Yard board of directors for a period of one year following the Termination Date.
•Upon execution of the Termination Agreement, George G. Ellison and Robin N. Lowe were reinstated as the Co-Chief Executive Officer and Chief Financial Officer, respectively, of AAMC, and Mr. Ellison resigned as Chairman of the Board but will remain a director of AAMC.
•Effective two business days prior to the Termination Date, Mr. Ellison shall resign as a director and as Co-Chief Executive Officer of AAMC.

AAMC expects to file a Current Report on Form 8-K within four business days of the date of the execution of the Termination Agreement providing further details thereof, including the filing of the Termination Agreement as an exhibit thereto.