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REAL PROPERTY TRANSACTION DATABASE AND METHOD TO MONITOR THE STATUS OF A REAL PROPERTY TRANSACTION

  • US 20070203730A1
  • Filed: 02/20/2007
  • Published: 08/30/2007
  • Est. Priority Date: 02/17/2006
  • Status: Abandoned Application
First Claim
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1. A method to monitor the status of a real-property transaction, comprising the steps of:

  • supplying a tracking system comprising a server comprising memory, a tracking database encoded in said memory, and a plurality of data input devices in communication with said server, wherein said database comprises a plurality of database fields, wherein one or more access permissions, a data field, a time stamp, an action time, one or more contact persons, and one or more contact alerts, are associated with said of said database fields;

    initiating a new real-property transaction wherein a buyer is under contract to purchase real property;

    creating in said database a new database entry associated with said new real-property transaction, wherein said new database entry comprises each of said plurality of database fields;

    determining whether to maintain a hard copy file associated with said new real-property transaction;

    operative if a hard copy file is maintained for said new real-property transaction;

    generating a hard copy file; and

    attaching a machine-readable label comprising a unique file identifier to said hard copy file, wherein said machine-readable label can be read by each of said plurality of data input devices.

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