Augmented system and methods for computing to support fractional contingent interests in property

• US 6,167,384 A
• Filed: 09/01/1998
• Issued: 12/26/2000
• Est. Priority Date: 09/01/1998
• Status: Expired due to Term

• Current Assignee: Ross/Graff Holdings LLC
• Original Assignee: Graff/Ross Holdings LLP
• Inventors: Graff, Richard A.
• Primary Examiner(s): MacDonald, Allen R.
• Assistant Examiner(s): MEINECKE DIAZ, SUSANNA M
• Application Number:
  US09/145,341
• Time in Patent Office: 847 Days
• Field of Search: 705/35, 705/36, 705/1
• US Class Current: 705/35
• CPC Class Codes: G06Q 20/363 with the personal data of a user
• CPC Class Codes: G06Q 30/0645 Rental transactions; Leasing transactions
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/08 Insurance
• CPC Class Codes: G07F 17/0014 for vending, access and use of specific services not covered anywhere else in G07F17/00 meter-controlled dispensing of liquid, gas or electricity G07F15/00
• CPC Class Codes: G07F 17/20 for washing or drying articles, e.g. clothes, motor cars
• CPC Class Codes: G07F 7/0866 by active credit-cards adapted therefor G07F7/1008 takes precedence

Abstract

A computer system, and methods for making and using it, for changing digital electrical signals to generate a valuation of a fractional interest in a contingent interest in property, the computer apparatus including: an input device operable for converting input data representing property into input digital electrical signals representing the input data; a digital electrical computer having a processor, the processor electrically connected to the input device to receive the input digital electrical signals, the processor programmed to change the input digital electrical signals to produce modified digital electrical signals representing a valuation of a fractional interest in a contingent interest in the property associated with at least one lease default condition for the property; a memory electrically connected to the processor, and wherein: the processor manipulates further digital electrical signals to generate at least one document for the contingent interest by inserting the valuation in preexisting text data obtained from the memory; and an output device electrically connected to the processor to print the document.

Claims

1. A computer apparatus for changing digital electrical signals to generate a valuation of a fractional interest in a contingent interest in property, the computer apparatus including:

an input device operable for converting input data representing property into input digital electrical signals representing the input data;

a digital electrical computer having a processor, the processor electrically connected to the input device to receive the input digital electrical signals, the processor programmed to change the input digital electrical signals to produce modified digital electrical signals representing a valuation of a fractional interest in a contingent interest in the property associated with at least one lease default condition for the property;

a memory electrically connected to the processor; and

wherein;

the processor manipulates further digital electrical signals to generate at least one document for the contingent interest by inserting the valuation in preexisting text data obtained from the memory; and

an output device electrically connected to the processor to print the document.

2. The apparatus of claim 1, wherein the text corresponds to text for a document required for securitization of the contingent interest in the property.

3. The apparatus of claim 1, wherein the contingent interest is an augmented estate for years interest.

4. The apparatus of claim 1, wherein the contingent interest is a complementary remainder interest.

5. The apparatus of claim 1, wherein the processor is further programmed to change the input digital electrical signals to produce further modified digital electrical signals representing a tax subsequent to elimination of a contingency in the contingent interest due to occurrence of the at least one lease default condition, to manipulate the further digital electrical signals to generate at least one additional document utilizing the tax and preexisting text data obtained from the memory, and to control the output device to print the at least one additional document.

6. The apparatus of claim 1, wherein the text corresponds to text for a document for paper-clipping shares in an augmented estate for years interest as the contingent interest.

7. The apparatus of claim 1, wherein the text corresponds to text for a document for paper-clipping shares in a complementary remainder interest as the contingent interest.

8. A computer-aided method for generating financial documentation for a fractional interest in a contingent interest in property, the method including:

controlling a digital electrical computer having a processor by programming the processor and by providing input information to an input device for converting the input information into digital electrical signals, the processor electrically connected to the input device for receiving the input digital electrical signals and to an output device for printing in response to receipt of modified digital electrical signals produced by the processor, the processor being programmed to change the input digital electrical signals representing an interest in property into the modified digital electrical signals representing a document creating a fractional interest in a contingent interest in the property, the contingent interest associated with at least one lease default condition for the property, and to print the document at the output device.

9. The method of claim 8, wherein the step of controlling is carried out with a memory electrically connected to the processor;

and wherein;

the processor manipulates the input digital electrical signals to form a valuation of the fractional interest in a contingent interest in the property, the valuation included within the modified digital electrical signals, and wherein the document is made by the processor obtaining preexisting text data from a memory accessible to the processor.

10. The method of claim 8, wherein the document is a document required for securitization of the contingent interest in the property.

11. The method of claim 8, wherein the contingent interest is an augmented estate for years interest.

12. The method of claim 8, wherein the contingent interest is a complementary remainder interest.

13. The method of claim 8, wherein the modified digital electrical signals include a tax determined for the contingent interest.

14. The method of claim 13, wherein the step of controlling is carried out on a second occasion to produce further modified digital electrical signals representing a tax subsequent to elimination of a contingency in the contingent interest due to occurrence of the at least one lease default condition for the property, and the processor is programmed to manipulate the further modified digital electrical signals to generate an additional document utilizing the tax and preexisting text data obtained from a memory electrically connected to the processor, and to control the output device to print the additional document.

15. The method of claim 8, wherein the text corresponds to text for a document for paper-clipping shares in an augmented estate for years interest as the contingent interest.

16. The method of claim 8, wherein the text corresponds to text for a document for paper-clipping shares in a complementary remainder interest as the contingent interest.

17. A computer-aided method for generating financial documentation for a fractional interest in a contingent interest in property, the method including:

controlling a digital electrical computer having a processor by programming the processor and by providing input information to an input device for converting the input information into digital electrical signals, the processor electrically connected to the input device for receiving the input digital electrical signals and to an output device for printing in response to receipt of modified digital electrical signals produced by the processor, the processor being programmed to change the input digital electrical signals representing an interest in property into the modified digital electrical signals representing at least one document of a set of documents collectively used in securitizing a fractional interest in a contingent interest in the property, the contingency interest associated with at least one lease default condition for the property, and to print the document at the output device, wherein at least a member of the set of documents is made by a computerized valuation of the fractional interest in the contingent interest in the property inserted in text data obtained from a memory.