Systems for creating and managing data structures associated with fractional interests in property and user interfaces for same

• US 20070074279A1
• Filed: 09/28/2005
• Published: 03/29/2007
• Est. Priority Date: 09/28/2005
• Status: Abandoned Application

• Current Assignee: PFP LLC
• Original Assignee: PFP LLC
• Inventors: Hickey, Brent
• Application Number:
  US11/236,924
• Publication Number:
  US 20070074279A1
• Time in Patent Office: Days
• US Class Current: 726/10
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis
• CPC Class Codes: G06Q 50/16 Real estate

Abstract

Methods and systems for managing novelty deeds are disclosed. One aspect of the invention is directed toward a method for generating income for a famous property that includes dividing the property into multiple interests, creating a novelty deed for each of the interests, and selling the novelty deeds to consumers. In certain embodiments, the novelty deeds can be valid for a predetermined time and invalid after the predetermined time has expired. Another aspect of the invention is directed toward a computer-implemented method for creating and managing novelty deeds that includes identifying multiple interests of a famous property, creating a novelty deed for each one of the multiple interests, and tracking the sale of the novelty deeds. The novelty deeds can be sold for a predetermined amount of money and/or can be valid for a predetermined time and invalid after the predetermined time has expired.

Claims

1. A computer readable medium having a data structure associated with fractional interests in property, the data structure comprising:

a first data portion identifying one of multiple interests of a property, wherein;

the first data portion is associated with a deed for the one interest;

the deed conveys no legal interest in the property, or conveys at least one right, but no legal liability associated with the property; and

the first data portion includes additional information associated with the property; and

a second data portion for tracking sale or resale of the deed associated with the one interest in the property, wherein;

the deed is at least initially associated with a predetermined amount of money; and

the second data structure includes information associated with at least one current or previous owner of the deed associated with the one interest in the property.

2. The computer readable medium of claim 1 wherein identifying multiple interests includes identifying multiple interests in a property that includes at least one of real property, personal property, tangible property, and intangible property.

3. The computer readable medium of claim 1, further comprising a third data portion for tracking one or more uses of at least a portion of money received from the sale or resale of the deed.

4. The computer readable medium of claim 1, further comprising a third data portion for tracking one or more uses of at least a portion of money received from the sale or resale of the deed, wherein the portion of money is used for at least one of managing the deeds, acquiring the property, maintaining the property, improving the property, and a charitable purpose.

5. A system for creating and managing novelty deeds, comprising:

means for identifying multiple interests of a famous property, the famous property being located on or in earth;

means for creating a novelty deed for each one of the multiple interests; and

means for tracking sales of the novelty deeds to consumers, wherein tracking the sales of novelty deeds includes at least one of tracking a transfer of money associated with the sales and tracking ownership of the novelty deeds.

6. The system of claim 5, further comprising means for offering certain novelty deeds for sale for a predetermined amount of money.

7. The system of claim 5 wherein the novelty deeds do not convey an actual ownership right in the corresponding interests, or convey an actual ownership right in the corresponding interests.

8. The system of claim 5 wherein the novelty deeds are valid for a predetermined time and invalid after the predetermined time has expired.

9. The system of claim 5 wherein the novelty deeds do not convey an actual ownership right in the corresponding interests, but do convey a privilege with regard to the property.

10. The system of claim 5, further comprising at least one of means for marketing the novelty deeds, means for offering the novelty deeds for sale, and means for tracking the recordation of the novelty deed with an appropriate agency.

11. The system of claim 5 wherein creating the novelty deeds are valid for a predetermined time and invalid after the predetermined time has expired, wherein the system further comprises means for tracking when the predetermined time has expired.

12. The system of claim 5, further comprising means for tracking one or more uses of at least a portion of money received from the sale of the novelty deeds.

13. The system of claim 5, further comprising means for tracking one or more uses of at least a portion of money received from the sale, wherein the portion of money is used for at least one of managing the novelty deeds, acquiring the property, maintaining the property, improving the property, and a charitable purpose.

14. The system of claim 5, further comprising at least one of means for sending a notice to an owner of one of the novelty deeds that the predetermined time is about to expire and means for completing an automatic repurchase of the corresponding novelty deed for the owner.

15. The system if claim 5 wherein the property includes at least one of real property, personal property, tangible property, and intangible property.

16. A computer readable medium having computer-executable instructions for performing a method, the method comprising:

identifying multiple interests of a famous property, the famous property being located on or in earth;

creating a novelty deed for each one of the multiple interests; and

tracking the sale of the novelty deeds to consumers, wherein tracking the sales of novelty deeds includes at least one of tracking a transfer of money associated with the sales and tracking ownership of the novelty deeds.

17. The computer readable medium of claim 16 wherein the method further comprises tracking one or more uses of at least a portion of money received from the sale.

18. The computer readable medium of claim 16 wherein the novelty deeds are valid for a predetermined time frame and invalid after the expiration of the predetermined time frame.

19. The computer readable medium of claim 16 wherein the novelty deeds are valid for a predetermined time frame and invalid after the expiration of the predetermined time frame and wherein the method further comprises tracking when the predetermined time has expired.

20. The computer readable medium of claim 16 wherein the method further comprises tracking one or more uses of at least a portion of money received from the sale.