Abstract: The invention provides an electronic method of managing a timely and irrevocable transfer of closing funds between parties within a closed community of authenticated participants using an electronic interface accessible over a distributed network. A value transaction is negotiated and finalized between a first party and a second party. The invention allows payment of closing funds on a timely and irrevocable basis from a staging account.
Type:
Grant
Filed:
September 12, 2005
Date of Patent:
December 28, 2010
Assignee:
Terant Enterprises Inc.
Inventors:
Mike Seto, Alison Judith Curtis, Dov Goldberg, Allan Shaver