Property Sale Application and Tracking System

• US 20080222014A1
• Filed: 03/08/2007
• Published: 09/11/2008
• Est. Priority Date: 03/08/2007
• Status: Active Grant

• Current Assignee: Realauction.com LLC
• Original Assignee: Realauction.com LLC
• Inventors: Meyer, Henrique, McClendon, Lloyd E., McClendon, Douglas, Thompson, Whit
• Granted Patent: US 8,521,545 B2
• Time in Patent Office: Days
• US Class Current: 705/35
• CPC Class Codes: G06Q 10/10 Office automation; Time management
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis

Abstract

A property sate application system, such as for a tax deed, is provided that receives sale applications. The tax deed application can include information associated with a parcel, certificate information associated with a tax certificate associated with the parcel, and investor information associated with an investor associated with the at least one tax certificate. The system can enter data representative of the application into a database, transmit the application for review, and retrieve parcel information related to the identification information, the certificate information, or the investor information. The system may update the application data in the tax deed database based at least in part on the parcel information, receive a title search request based at least in part on the parcel information, transmit the title search request for processing, provide a status identifier representative of a current status of the tax deed application, and update the status identifier.

Claims

1. A method of managing a sale of encumbered properly, the method comprising:

receiving a sale application comprising identification information associated with the encumbered property;

entering application data representative of the sale application into a database;

transmitting the sale application for review over a network;

receiving property information over the network for the encumbered property, the property information being based at least in part on the review of the sale application;

updating the application data in the database based at least in part on the property information;

providing a status identifier representative of a current status of the sale application; and

updating the status identifier based at least in part on at least one of the transmitting of the sale application for review, the receiving of the property information and the updating of the application data.

2. The method of claim 1, wherein the sale application is a tax deed application comprising at least one of identification information associated with a parcel, certificate information associated with at least one tax certificate associated with the parcel, and investor information associated with an investor associated with the at least one tax certificate, and wherein the property information is parcel information related to at least one of the identification information, the certificate information and the investor information.

3. The method of claim 2, further comprising:

receiving a title search request based at least in part on the parcel information;

transmitting the title search request for processing;

receiving a title search result from the processing of the title search request;

updating the application data in the database based at least in part on the title search result; and

updating the status identifier based at feast in part on at least one of the receiving of the title search request, the transmitting of the title search request, and the receiving of the title search result.

4. The method of claim 1, further comprising identifying liens associated with the encumbered property.

5. The method of claim 1, further comprising:

communicating with an electronic payment system to process a request for payment of the total fees associated with the sale application; and

receiving a notice from the electronic payment system to update the status identifier to include payment information.

6. A system for processing a tax deed application, the system comprising:

a user interface;

a database for storing tax deed data comprising identification of a parcel and at least one of certificate information for a tax certificate associated with the parcel and investor information for an investor associated with the tax certificate; and

a processor in communication with the user interface and the database,

wherein the processor receives tax deed signals representative of the tax deed data and stores the tax deed data in the database,

wherein the processor transmits application signals representative of the tax deed application based at least in part on the tax deed data,

wherein the processor receives parcel information signals representative of application changes determined from a review of the tax deed application, and

wherein the processor updates the tax deed data stored in the database based at least in part on the application changes.

7. The system of claim 6, wherein the processor tracks changes to the tax deed data.

8. The system of claim 7, wherein the processor indicates a status identifier for the changes to the tax deed data, and wherein the processor updates the status identifier based on at least one of receipt of the tax deed signals, transmission of the application signals, receipt of the parcel information signals, and updating of the tax deed data.

9. The system of claim 6, wherein the processor receives a title search signal representative of a request for a title search and transmits the title search signal for performance of the title search for the parcel, and wherein the processor receives a title information signal representative of title information determined from the title search and updates the tax deed data stored in the database based at least in part on the title information.

10. The system of claim 9, wherein the processor tracks changes to the tax deed data, wherein the processor indicates a status identifier for the changes to the tax deed data, and wherein the processor updates the status identifier based on at least one of receipt of the tax deed signals, transmission of the application signals, receipt of the parcel information signals, updating of the tax deed data, receipt of the title search signal, transmission of the title search signal, and receipt of the title information signal.

11. The system of claim 8, wherein the processor is in communication with at least one of the database and the user interface via a network.

12. The system of claim 8, wherein the tax deed data further comprises interest and fees associated with the lax certificate.

13. The system of claim 10, wherein the status identifier indicates total fees associated with the tax deed application to be paid prior to issuance of a tax deed.

14. The system of claim 8, wherein the processor is in communication with at least one of a tax collector database and a property appraiser database.

15. The system of claim 8S wherein the processor is in communication with a property appraiser database and a tax collector database via a network.

16. A computer readable program embodied in an article of manufacture comprising computer readable program instructions for processing of a tax deed application for a parcel said program comprising:

program instructions for causing a computer to store application data representative of the tax deed application;

program instructions for causing the computer to transmit the tax deed application for review;

program instructions for causing the computer to retrieve parcel information related at least in part to the tax deed application; and

program instructions for causing the computer to update the application data based at least in part on the parcel information.

17. The program of claim 16, further comprising:

program instructions for causing the computer to transmit a title search signal representative of a title search request for performance of a title search for the parcel;

program instructions for causing the computer to receive title information determined from the title search; and

program instructions for causing the computer to update the application data based at least in part on the title information.

18. The program of claim 16, further comprising:

program instructions for causing the computer to indicate a status identifier representative of a current status of the tax deed application; and

program instructions for causing the computer to update the status identifier based on at least one of transmitting the tax deed application for review, retrieving the parcel information, updating the application data, receiving a title search request, transmitting the title search signal, and receiving the title information.

19. The program of claim 18, wherein the tax deed application comprises identification information associated with the parcel, certificate information associated with at least one tax certificate associated with the parcel, and investor information associated with an investor associated with the at least one tax certificate.

20. The program of claim 18, further comprising:

program instructions for causing the computer to communicate with an electronic payment system to process a request for payment of total fees associated with the tax deed application; and

program instructions for causing the computer to receive a notice from the electronic payment system to update the status identifier to include payment information.

21. A method of managing a tax deed sale, the method comprising:

receiving a request for an application quote for a tax certificate;

storing in a database tax deed data comprising identification of a parcel and certificate information for the tax certificate associated with the parcel;

verifying that the tax certificate is eligible for application based upon the tax deed data;

determining fees required for the application for the tax certificate; and

indicating to a user the application quote based at least in part on the fees.

22. The method of claim 21, further comprising:

determining tax due on the parcel.

23. The method of claim 21, further comprising:

determining if other tax certificates are required to be paid off for the parcel.

24. The method of claim 21, further comprising:

transmitting the application quote to an investor over a network.

25. The method of claim 21, further comprising:

providing to the user a selection of payment months and determining the tees based on the payment month chosen.

26. The method of claim 21, wherein the tax certificate is a plurality of tax certificates and wherein the fess are based on the plurality of tax certificates.

27. A system for processing a tax deed application, the system comprising:

a user interface;

a database for storing tax deed data comprising identification of a parcel and certificate information for a tax certificate associated with the parcel and

a processor in communication with the user interface and the database,

wherein the processor receives quote signals representative of a request for an application quote for the tax certificate,

wherein the processor verifies that the tax certificate is eligible for application based upon the tax deed data,

wherein the processor determines fees required for the application for the tax certificate, and

wherein the processor communicates report signals representative of the fees required for the application to the user interface.

28. The system of claim 27, wherein the processor determines if other tax certificates are required to be paid off for the parcel.

29. The system of claim 27, wherein the processor transmits the report signals to an investor over a network.

30. The system of claim 27, wherein the processor calculates tax due on the parcel.