Original document verification system and method in an electronic document transaction

Inactive Publication Date: 2007-01-18
ECLOZ
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  • Summary
  • Abstract
  • Description
  • Claims
  • Application Information

AI Technical Summary

Problems solved by technology

Commercial transactions, particularly real estate transactions, usually present anxieties for some or all of the parties involved.
Papers necessary to the transaction can become lost or misplaced.
Needless to say, the flurry of paperwork can bog down the transaction process and present difficulties if one or more of the papers becomes lost.
While streamlining the “paper process”, online electronic recordation models are not without their own set of inherent problems.
While models are designed to assure that data in the electronic documents cannot be tampered with by the use of public and private keys, one critical concern that remains i

Method used

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  • Original document verification system and method in an electronic document transaction
  • Original document verification system and method in an electronic document transaction
  • Original document verification system and method in an electronic document transaction

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Embodiment Construction

[0020] Referring now to the drawing Figures in which like reference designators refer to like elements, there is shown in FIG. 1 an exemplary embodiment of the electronic document recordation system 10 of the present invention in its most basic form. Although the inventive process described herein is applicable to any electronic document recordation process, the example shown in the figures relates to an online real estate transaction involving the recordation of an electronic deed.

[0021] System 10 includes computer 15, which stores a software program in its memory that embodies the present invention. Computer 15 is part of a data communications system and may be one or more computers capable of sending and retrieving electronic signals containing information via data communications network 20. Thus, although the term “first” or “source” computer is used when describing the computer that transmits an electronic document and receives a recorded version of the electronic document from t

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Abstract

A method and system for recording electronic documents through a data communication network while assuring that no duplicate “original” documents are in existence. The method and system includes creating an original electronic document that is to be recorded, such as a deed in a real estate transaction. The electronic document is stored on a source computer in an electronic file and, in one embodiment, transmitted to a recordation agency's computer over a data communication network for recordation. Upon submission of the document for recordation, the stored electronic document is designated as a “copy”. A file containing at least the original electronic document is then transmitted from the recordation agency to the source computer and stored thereon or transferred to another medium.

Description

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Claims

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Application Information

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Owner ECLOZ
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