System, method and insurance product for insuring real estate transactions
US8380543B2 · kind B2 · utility
Assignee
Inventor
Key dates
| Filing date | Aug 30, 2007 |
| Grant date | Feb 19, 2013 |
| Priority date | — |
| Expiry date | Feb 1, 2031 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/08
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A method of reducing the risk to a Vendor of a First House that the Vendor of the First House will have to pay the Monthly Carrying Costs associated with the First House in the event that the First House is not sold within an acceptable predefined or determinable period of time. The method includes, steps of calculating the Monthly Carrying Costs associated with the First House, establishing a Minimum Acceptable Price for the sale of the First House, and calculating the likelihood that the First House will not be sold at or above the Minimum Acceptable Price during the acceptable predefined or determinable period of time. The method further includes calculating the likely length of time required to sell the First House at or above the Minimum Acceptable Price, and other steps.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.