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Methods and apparatus for title structure and management

  • US 8,571,992 B2
  • Filed: 03/03/2010
  • Issued: 10/29/2013
  • Est. Priority Date: 05/15/2002
  • Status: Expired due to Term
First Claim
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1. A computer-implemented method for effecting transfer of title objects using one or more computing devices, comprising:

  • storing, by the one or more computing devices, a first title object received from a first entity in memory associated with a lockbox programmed to securely execute transfer of title objects between parties, the first title object being encoded with title data representing a plurality of rights, the first title object also being encoded to effect redemption of each of the rights by presentation of the first title object to a title-enabled process, the first title object also being encoded with an associated title object state corresponding to a first value which corresponds to an externally stored state that is stored separately from the title object state;

    transferring, the one or more computing devices, ownership of one or more of the rights represented by the first title object to a second entity by releasing the first title object from the memory associated with the lockbox to the second entity upon satisfaction of at least one criterion; and

    updating, by the one or more computing devices, both the associated title object state and the externally stored state to correspond to a new value in conjunction with releasing the first title object to the second entity, the updating ensuring that only a single valid instance of the first title object is in circulation.

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