Property sale application and tracking system

• US 8,521,545 B2
• Filed: 03/08/2007
• Issued: 08/27/2013
• Est. Priority Date: 03/08/2007
• Status: Expired due to Fees

• Current Assignee: Realauction.com LLC
• Original Assignee: Realauction.com LLC
• Inventors: Thompson, Whit, Meyer, Henrique, McClendon, Douglas, McClendon, Lloyd E. III
• Primary Examiner(s): Vig, Naresh
• Application Number:
  US11/683,752
• Publication Number:
  US 20080222014A1
• Time in Patent Office: 2,364 Days
• Field of Search: 705/1.1
• US Class Current: 705/1.1
• 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 system for processing a tax deed application for a tract of real estate, the system comprising:

a user interface;

a database configured to store tax deed data comprising;

(1) identification of a tract of real estate, (2) certificate information for a tax certificate associated with the tract of real estate, and (3) investor information for an investor associated with the tax certificate associated with the tract of real estate; and

a processor configured to communicate with the user interface and the database, wherein the processor executes instructions to perform operations comprising;

receiving application data representative of the tax deed application for the tract of real estate based at least in part on the tax deed data,

receiving parcel information data associated with the tract of real estate,

updating at least a portion of the tax deed data stored in the database based at least in part on the parcel information data,

allowing monitoring of a current status of the tax deed application for the tract of real estate via the user interface,

determining an amount of fees associated with the tax deed application, wherein the amount of fees is associated with a tax deed on the tract of real estate; and

accepting electronic payment of the amount of the fees associated with the tax deed application for the tract of real estate.

2. The system of claim 1, wherein the operations further comprise tracking changes to the tax deed data.

3. The system of claim 2, wherein the operations further comprise indicating a status identifier for the changes to the tax deed data, and wherein the operations further comprise updating the status identifier based on at least one of receipt of the tax deed data, transmission of the application data, receipt of the parcel information data, and updating the portion of the tax deed data.

4. The system of claim 1, wherein the operations further comprise receiving title search data representative of a request for a title search on the tract of real estate, and wherein the operations further comprise receiving title information data associated with the tract of real estate determined from the title search and updating the tax deed data stored in the database based at least in part on the title information data associated with the tract of real estate.

5. The system of claim 4, wherein the operations further comprise tracking changes to the tax deed data, wherein the operations further comprise indicating a status identifier for the changes to the tax deed data, and wherein the operations further comprise updating the status identifier based on at least one of receipt of the tax deed data, transmission of the application data, receipt of the parcel information data, updating the portion of the tax deed data, receipt of the title search data, transmission of the title search data, and receipt of the title information data.

6. The system of claim 5, wherein the status identifier indicates the amount of the fees associated with the tax deed application to be paid prior to issuance of the tax deed on the tract of real estate.

7. The system of claim 1, wherein the processor is in communication with at least one of the database and the user interface via a network.

8. The system of claim 1, wherein the tax deed data further comprises interest and fees associated with the tax certificate.

9. The system of claim 1, wherein the processor is in communication with at least one of a tax collector database and a property appraiser database.

10. The system of claim 1, wherein the processor is in communication with a property appraiser database and a tax collector database via a network.

11. A computer-based method of processing a tax deed application for an encumbered tract of real estate facilitated by a processor, the computer-based method comprising:

receiving, by the processor, tax deed application data representative of the tax deed application;

storing, by using the processor, the tax deed application data representative of the tax deed application in a database;

transmitting the tax deed application data representative of the tax deed application to facilitate remote review of the tax deed application;

receiving property information for the encumbered tract of real estate identified in the tax deed application after the remote review of the tax deed application has been performed;

updating the tax deed application data in the database based at least in part upon the property information for the encumbered tract of real estate received, wherein the tax deed application data is updated by the processor;

updating a status identifier representative of a current status of the tax deed application based upon the property information for the encumbered tract of real estate received such that the current status of the tax deed application may be remotely monitored over a network, wherein the status identifier is updated by the processor;

determining an amount of fees associated with the tax deed application, wherein the amount of fees is associated with a tax deed on the tract of real estate, wherein the amount of fees is determined by the processor; and

receiving electronic payment of the amount of fees associated with the tax deed application for the encumbered tract of real estate over the network.

12. The computer-based method of claim 11, wherein the tax deed application data comprises certificate information associated with a tax certificate associated with the encumbered tract of real estate, and investor information associated with the tax certificate.

13. The computer-based method of claim 12, further comprising:

transmitting a title search request for the encumbered tract of real estate via the processor for remote processing of the title search request;

receiving a title search result via the processor, the title search result reflecting results of the remote processing of the title search request;

updating the tax deed application data in the database based upon the title search result received; and

updating the status identifier based upon at least one of the transmitting the title search request and the receiving the title search result.

14. The computer-based method of claim 12, further comprising identifying liens associated with the encumbered tract of real estate.

15. The computer-based method of claim 12, further comprising:

communicating with an electronic payment system via the processor to process a request for payment of total fees associated with the tax deed application; and

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

16. A computer system for processing a tax deed application for an encumbered tract of real estate, the computer system comprising:

a processor configured to execute instructions to perform operations comprising;

receiving tax deed application data associated with the tax deed application for the encumbered tract of real estate over a network;

storing the tax deed application data;

receiving tax certificate data associated with a tax certificate on the encumbered tract of real estate;

determining an interest amount based at least in part on the tax certificate data associated with the tax certificate; and

determining an amount of fees associated with the tax deed application, wherein the amount of fees is associated with a tax deed on the encumbered tract of real estate.

17. The system of claim 16, wherein the processor is configured to execute instructions to perform operations further comprising determining if the tax certificate is eligible for the tax deed application.

18. The system of claim 16, wherein the processor is configured to execute instructions to perform operations further comprising determining if additional tax certificates on the encumbered tract of real estate exist.

19. The system of claim 18, wherein the processor is configured to execute instructions to perform operations further comprising determining interest amounts for the additional tax certificates.