Systems, apparatus, and method re escrow data and documentation
First Claim
1. An apparatus including a processor and a memory coupled to the processor for an escrow transaction of real or personal property, the apparatus comprising:
- system components associated with a computer based automation system, said system components causing the processor to provide escrow processes via online communications, comprising;
(1) receiving electronically signed documents related to the opening of an escrow, (2) sending digital instructions to at least one party involved in the transaction related to the opening of the escrow, (3) implementing identity authentication and electronic or digital signatures for documents requiring signature by at least one of the parties, and (4) providing for a variety of levels of security for access to documents,managing, by verifying said documents,digitally tracking and coordinating and permitting access to an ongoing status of the escrow transaction, andclosing of said escrow transaction for real or personal property, including at least one of electronically transferring, registering, and recording of said documents, and receiving or sending online confirmation of a close of the escrow transaction and of delivery of final loan agreements, and releasing transaction funds.
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Accused Products
Abstract
The apparatus and method implements, manages, and tracks on-line digital transactions via an escrow, including opening, servicing, real-time or near-real time status of the broker, title company, lender, vendor, buyer and seller, and closing of an escrow via a medium such as the internet. Multiple access methods are employed. The present invention provides computerization and internet type process implementation for escrow processes including, but not limited to, digital transaction coordination, digital status coordinators, seamless escrow transactions, on-line digital signatures, video signature authentication, digital certificate authentication, signature authentication, satellite and other wireless transmission of escrow transactions, voice digital instruction, the merging of voice with digital data transactions, set-top/WebTV digital escrow transmission, global digital escrow networking, and the like. The system includes appropriate data, application, and servers along with supporting LAN or WAN-based application to perform escrow services.
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Citations
48 Claims
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1. An apparatus including a processor and a memory coupled to the processor for an escrow transaction of real or personal property, the apparatus comprising:
system components associated with a computer based automation system, said system components causing the processor to provide escrow processes via online communications, comprising; (1) receiving electronically signed documents related to the opening of an escrow, (2) sending digital instructions to at least one party involved in the transaction related to the opening of the escrow, (3) implementing identity authentication and electronic or digital signatures for documents requiring signature by at least one of the parties, and (4) providing for a variety of levels of security for access to documents, managing, by verifying said documents, digitally tracking and coordinating and permitting access to an ongoing status of the escrow transaction, and closing of said escrow transaction for real or personal property, including at least one of electronically transferring, registering, and recording of said documents, and receiving or sending online confirmation of a close of the escrow transaction and of delivery of final loan agreements, and releasing transaction funds. - View Dependent Claims (2)
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3. A system for real estate escrow transaction data and electronic document processing and transmitting over an Internet, comprising:
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at least one first unit coupled to the Internet, said first unit associated with at least one escrow or real estate office and having a first computer program code unit for implementing real estate escrow transactions, a second computer program code unit for managing the real estate escrow transactions, and a third computer program code unit for closing said real estate escrow transactions, wherein the implementing of the escrow includes electronically or digitally signing or receiving of any electronically or digitally executed escrow-related contracts, agreements, or instructions, wherein the managing of the escrow includes verifying said escrow-related contracts, agreements, or instructions, or transferring of funds or other compensation, and wherein the closing of the escrow includes receiving or sending online confirmation of a close of escrow, delivery of final loan agreements, or releasing transaction funds; at least one second unit coupled to the Internet, said second unit associated with at least one of the buy-sell principals and agents thereof and having a second computer program code unit for coupling to said first computer program code unit; and at least one third unit coupled to the Internet, said third unit associated with at least one service provider, vendor, governmental entity, or quasi-governmental entity and having a third computer program code unit for coupling to said first computer program code unit and said second computer program code unit, wherein the escrow-related contracts, agreements, or instructions are accessible via the Internet by said first unit and said second unit and said third unit, and wherein starting escrow is triggered by parties electronically or digitally executing the escrow-related contracts, agreements, or instructions to open the escrow. - View Dependent Claims (4, 5)
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6. A method implemented on a computer having a processor and a memory coupled to the processor, to perform operations to enable an escrow process for real or personal property using on-line communications systems, the method comprising:
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establishing using the processor an on-line escrow account for any party; controlling on-line transactional account management services for said any party with respect to the on-line escrow account, said services including providing any data and documents associated with implementing the on-line escrow account via the on-line communications systems, wherein said implementing includes at least one of (1) receiving or sending at least one escrow document to be signed electronically or digitally related to an escrow, (2) sending digital instructions to a first party involved in the transaction related to the escrow to electronically or digitally sign at least one escrow document, (3) implementing identity authentication on the at least one escrow document to be electronically or digitally signed, (4) electronically or digitally signing the at least one escrow document, and (5) providing for a variety of levels of security for access to at least one escrow document that is to be electronically or digitally signed, and managing by receiving online the at least one electronically or digitally signed document, and closing by verifying online that the electronically or digitally signed at least one escrow document has been signed, submitting the at least one electronically or digitally signed document to a second party involved in the escrow process, and receiving or sending online confirmation of a close of escrow including that the at least one escrow document has been electronically or digitally signed. - View Dependent Claims (7)
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8. An apparatus including a processor and a memory coupled to the processor for performing operations to enable an escrow process for personal or real property, comprising:
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associated with a telecommunications system, system components for causing said processor to provide escrow processes including at least one of (1) sending documents or instructions for said escrow transaction to third party agents or principals for electronic or digital signature or that have been electronically or digitally signed, and (2) receiving documents or instructions for said escrow transaction from third party agents or principals for electronic or digital signature or that have been electronically or digitally signed, and perform managing and closing, wherein the managing includes receiving online the at least one electronically or digitally signed document, wherein the closing is by verifying online that the at least one electronically or digitally signed document has been signed, submitting the at least one electronically or digitally signed document to a party involved in the escrow process, receiving or sending online confirmation of a close of escrow and of delivery of final loan documents, and releasing transaction funds.
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9. An apparatus including a processor and a memory coupled to the processor to perform operations to enable an escrow process for personal or real property, comprising:
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associated with a telecommunications system, system components for causing said processor to provide processes relating to an escrow transaction, said escrow processes including at least one of (1) sending any escrow-related document, contract, agreement, or instruction to a party or principal to be electronically or digitally signed, (2) enabling a party or principal to electronically or digitally sign any escrow-related document, contract, agreement, or instruction, and (3) receiving any electronically or digitally signed escrow-related document, contract, agreement, or instruction, and perform managing and closing, wherein the managing includes receiving online the at least one electronically or digitally signed document, wherein the closing is by verifying online that the at least one electronically/digitally signed document has been signed, submitting the at least one electronically/digitally signed document to a party involved in the escrow process, receiving or sending online confirmation of a close of escrow and of delivery of final loan documents, and releasing transaction funds, and wherein said system components include at least one digital computerization and internet type process implementation program module for authenticating an electronic or digital signature and/or identity of a principal or party.
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10. A computer program product, stored on a non-transitory computer readable medium, comprising instructions that, when executed on one or more computers, cause the one or more computers to perform operations to enable an escrow process for personal or real property, the operations comprising:
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via online communications at least one of (1) receiving or sending at least one escrow document to be signed electronically or digitally related to the escrow process, (2) sending digital instructions to a first party involved in the escrow process to electronically or digitally sign at least one escrow document, (3) implementing identity authentication on at least one escrow document to be electronically or digitally signed, (4) electronically or digitally signing at least one escrow document, and (5) providing for a variety of levels of security for access to at least one escrow document that is to be electronically or digitally signed; tracking online a status of the electronically or digitally signed at least one escrow document; managing by receiving online the electronically or digitally signed at least one escrow document; and closing by at least one of verifying online that the electronically or digitally signed at least one escrow document has been signed, submitting the electronically or digitally signed at least one escrow document to a second party involved in the escrow process, and receiving or sending online confirmation of a close of the escrow process including that the at least one escrow document has been electronically or digitally signed. - View Dependent Claims (11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21)
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22. A system for processing an escrow, comprising:
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a server coupled to a network including a memory and a processor configured to; via online communications at least one of (1) receive or send at least one escrow document to be signed electronically or digitally related to the escrow process, (2) send digital instructions to a first party involved in the escrow process to electronically or digitally sign at least one escrow document, (3) implement identity authentication on at least one escrow document to be electronically or digitally signed, (4) electronically or digitally sign at least one escrow document, and (5) provide for a variety of levels of security for access to at least one escrow document that is to be electronically or digitally signed; track online a status of the electronically or digitally signed at least one escrow document; manage by receiving online the electronically or digitally signed at least one escrow document; and close by at least one of verifying online that the electronically or digitally signed at least one escrow document has been signed, submit the electronically or digitally signed at least one escrow document to a second party involved in the escrow, and receive or send online confirmation of a close of the escrow including that the at least one escrow document has been electronically or digitally signed. - View Dependent Claims (23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34)
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35. A method for conducting an escrow, comprising
at a first computer coupled to an online network, at least one of (1) receiving or sending at least one escrow document to be signed electronically or digitally related to the escrow process, (2) sending digital instructions to a first party involved in the escrow process to electronically or digitally sign at least one escrow document, (3) implementing identity authentication on at least one escrow document to be electronically or digitally signed, (4) electronically or digitally signing at least one escrow document, and (5) providing for a variety of levels of security for access to at least one escrow document that is to be electronically or digitally signed; -
tracking online a status of the electronically or digitally signed at least one escrow document; managing by receiving online the electronically or digitally signed at least one escrow document; and closing by at least one of verifying online that the electronically or digitally signed at least one escrow document has been signed, submitting the electronically or digitally signed at least one escrow document to a second party involved in the escrow process, and receiving or sending online confirmation of a close of the escrow process including that the at least one escrow document has been electronically or digitally signed. - View Dependent Claims (36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 48)
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Specification