System and method for creating electronic real estate registration

• US 20060116952A1
• Filed: 11/30/2005
• Published: 06/01/2006
• Est. Priority Date: 11/30/2004
• Status: Active Grant

• Current Assignee: Michael Dell Orfano
• Original Assignee: Michael Dell Orfano
• Inventors: Orfano, Michael Dell
• Granted Patent: US 7,693,765 B2
• Time in Patent Office: Days
• US Class Current: 705/38
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/382 insuring higher security of transaction
• CPC Class Codes: G06Q 30/0278 Product appraisal
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• 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 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 50/16 Real estate

Abstract

A system for providing a registered land asset includes a property transaction database in communication with a computer network the property transaction database provides information related to transactions associated with each registered land asset parcel, each land parcel having a registered land asset identifier representing global coordinates particular to the parcel. The system also includes a location characteristic database in communication with the computer network. The location characteristic database provides socioeconomic data regarding the location wherein the land parcel associated with the registered land asset is situated. A registered land asset contract may give a leaseholder an option to purchase the land by the end of a given term. A computer receives data from the property transaction database and the location characteristic database via the computer network and calculates prices and values associated with a registered land asset contract associated with the land parcel and a registered land asset contract is recorded in association with the land asset identifier corresponding to the land parcel in an electronic land title registry in communication with the computer network.

Claims

1. A method for originating a registered land asset comprising:

obtaining, via a computer network, at least two of;

i) a market value of a parcel of land;

ii) a market ground rent associated with the parcel of land; and

iii) a land capitalization rate associated with the land;

calculating a price associated with an option to purchase the land at the end of a given term; and

offering a registered land asset contract to an investor, the registered land asset giving the investor ownership of the land subject to the option.

2. A method according to claim 1, further comprising:

obtaining, via a computer network,

a purchase option term;

the prevailing investor cost of capital;

the prevailing mortgage market terms;

a market land value appreciation rate; and

calculating the land investment value associated with the purchase of the land.

3. A method according to claim 1, further comprising:

calculating impacts that externalities have on the market land value associated with the registered land asset.

4. A method according to claim 1, wherein obtaining the market value of a parcel of land includes determining if the land title is encumbered.

5. A method according to claim 1, wherein offering a registered land asset contract to an investor includes offering a zero coupon asset contract.

6. A method according to claim 1, wherein offering the registered land asset contract to an investor includes offering an income asset contract.

7. A method according to claim 1, wherein offering the registered land asset contract to an investor includes offering a bonded asset contract.

8. A method according to claim 1, wherein obtaining a market value of a parcel of land includes obtaining a land valuation report.

9. A method for establishing an electronic land title registry, the method comprising:

determining a geo-referenced address based on a global coordinate position of the land subject to a land title deed;

causing a land title deed and registered asset identifier to be recorded in association with one another in an electronic database, the registered asset identifier representing the geo-referenced address; and

causing a registered land asset contract to be recorded in association with the registered asset identifier.

10. A method according to claim 9, further comprising causing a land title deed and the registered asset identifier to be recorded in association with one another in the local land court;

11. A method according to claim 9, further comprising allowing the stored registered land asset identifier to be appended to include other information relating to the registered land asset.

12. A method according to claim 9, wherein the geo-referenced address comprises a universal transverse mercator (UTM) grid code.

13. A method according to claim 9, wherein the registered land asset identifier is appended with a sequential equity allocation lien (the “

SEAL”

) identifier.

14. A method according to claim 13, wherein the SEAL identifier includes one of:

a date associated with the SEAL identifier, a time associated with the SEAL identifier, a document associated with the SEAL identifier, document type associated with the SEAL identifier and a document preparer associated with the SEAL identifier.

15. A method according to claim 9, wherein the registered land asset identifier is appended with a vendor identification number (the “

VIN”

).

16. A computer program product for use on a processor for determining prices and values associated with a registered land asset, the computer program product comprising a computer usable medium having computer readable program code thereon, the computer readable program code including:

program code for obtaining, via a computer network, at least two of;

i) a market value of a parcel of land;

ii) a market ground rent associated with the parcel of land; and

iii) a land capitalization rate associated with the land; and

,

program code for calculating a price associated with an option to purchase the land at the end of a given term.

17. A computer program product according to claim 16, further comprising:

program code for obtaining, via a computer network;

a purchase option term;

the prevailing investor cost of capital;

the prevailing mortgage market terms;

a market land value appreciation rate; and

calculating the land investment value associated with the purchase of the land.

18. A computer program product according to claim 16, further comprising:

program code for calculating a land par value associated with the registered land asset.

19. A computer program product according to claim 16, further comprising:

program code for calculating land sale proceeds associated with the registered land asset.

20. A computer program product according to claim 16, further comprising:

program code for calculating an embedded call settlement price associated with the registered land asset.

21. A computer program product according to claim 16, further comprising:

program code for enabling vendors to access the electronic land title registry via a computer network or the internet.

22. A computer program product according to claim 21, wherein the program code for enabling venders to access the electronic land title registry include program code for identifying an assigned vendor identification number (VIN).

23. A system for providing a registered land asset, the system comprising:

a property transaction database in communication with a computer network, the property transaction database providing information related to transactions associated with each registered land asset parcel, each parcel having a registered asset identifier representing global coordinates particular to the land parcel;

a location characteristic database in communication with the computer network, the location characteristic database providing socioeconomic data regarding the location wherein the land parcel associated with the registered land asset is situated;

a computer for receiving data from the property transaction database and the location characteristic database via the computer network and calculating prices and values associated with a registered land asset contract associated with the land parcel; and

an electronic land title registry in communication with the computer network for recording the registered asset contract in association with the registered asset identifier corresponding to the land parcel.

24. A system according to claim 23, wherein one database includes both the socioeconomic data and the information related to transactions associated with each registered asset parcel.

25. A method for exchanging registered land assets comprising:

selling a registered land asset relating to land identified by a registered land asset identifier representing a geo-referenced address subject to a registered asset land contract giving a leaseholder an option to purchase the land by the end of a given term; and

recording the sale of the registered land asset in association with the registered land asset identifier in an electronic land title registry.