EP4074012A1 - Procédés et systèmes de transmission d'informations - Google Patents

Procédés et systèmes de transmission d'informations

Info

Publication number
EP4074012A1
EP4074012A1 EP20899037.4A EP20899037A EP4074012A1 EP 4074012 A1 EP4074012 A1 EP 4074012A1 EP 20899037 A EP20899037 A EP 20899037A EP 4074012 A1 EP4074012 A1 EP 4074012A1
Authority
EP
European Patent Office
Prior art keywords
tokens
occupant
home
asset
hpi
Prior art date
Legal status (The legal status is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the status listed.)
Pending
Application number
EP20899037.4A
Other languages
German (de)
English (en)
Other versions
EP4074012A4 (fr
Inventor
Michael DIESCH
Tim ENNEKING
Christopher DIESCH
Current Assignee (The listed assignees may be inaccurate. Google has not performed a legal analysis and makes no representation or warranty as to the accuracy of the list.)
Quarter Inc
Original Assignee
Quarter Inc
Priority date (The priority date is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the date listed.)
Filing date
Publication date
Application filed by Quarter Inc filed Critical Quarter Inc
Priority claimed from PCT/US2020/064934 external-priority patent/WO2021119618A1/fr
Publication of EP4074012A1 publication Critical patent/EP4074012A1/fr
Publication of EP4074012A4 publication Critical patent/EP4074012A4/fr
Pending legal-status Critical Current

Links

Classifications

    • HELECTRICITY
    • H04ELECTRIC COMMUNICATION TECHNIQUE
    • H04LTRANSMISSION OF DIGITAL INFORMATION, e.g. TELEGRAPHIC COMMUNICATION
    • H04L63/00Network architectures or network communication protocols for network security
    • H04L63/12Applying verification of the received information
    • H04L63/123Applying verification of the received information received data contents, e.g. message integrity
    • GPHYSICS
    • G06COMPUTING; CALCULATING OR COUNTING
    • G06QINFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q30/00Commerce
    • G06Q30/06Buying, selling or leasing transactions
    • G06Q30/0645Rental transactions; Leasing transactions
    • GPHYSICS
    • G06COMPUTING; CALCULATING OR COUNTING
    • G06QINFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q40/00Finance; Insurance; Tax strategies; Processing of corporate or income taxes
    • G06Q40/06Asset management; Financial planning or analysis
    • GPHYSICS
    • G06COMPUTING; CALCULATING OR COUNTING
    • G06QINFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q40/00Finance; Insurance; Tax strategies; Processing of corporate or income taxes
    • G06Q40/08Insurance
    • GPHYSICS
    • G06COMPUTING; CALCULATING OR COUNTING
    • G06QINFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q40/00Finance; Insurance; Tax strategies; Processing of corporate or income taxes
    • G06Q40/10Tax strategies
    • GPHYSICS
    • G06COMPUTING; CALCULATING OR COUNTING
    • G06QINFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q50/00Information and communication technology [ICT] specially adapted for implementation of business processes of specific business sectors, e.g. utilities or tourism
    • G06Q50/10Services
    • G06Q50/16Real estate
    • HELECTRICITY
    • H04ELECTRIC COMMUNICATION TECHNIQUE
    • H04LTRANSMISSION OF DIGITAL INFORMATION, e.g. TELEGRAPHIC COMMUNICATION
    • H04L9/00Cryptographic mechanisms or cryptographic arrangements for secret or secure communications; Network security protocols
    • H04L9/50Cryptographic mechanisms or cryptographic arrangements for secret or secure communications; Network security protocols using hash chains, e.g. blockchains or hash trees
    • HELECTRICITY
    • H04ELECTRIC COMMUNICATION TECHNIQUE
    • H04LTRANSMISSION OF DIGITAL INFORMATION, e.g. TELEGRAPHIC COMMUNICATION
    • H04L2209/00Additional information or applications relating to cryptographic mechanisms or cryptographic arrangements for secret or secure communication H04L9/00
    • H04L2209/56Financial cryptography, e.g. electronic payment or e-cash

Definitions

  • FIGS. 1-4 illustrate various structures that may be used in investing, according to aspects of the disclosure.
  • FIG. 5 illustrates an example computer system, according to aspects of the disclosure.
  • FIG. 6 illustrates an example method for using blockchain, according to aspects of the disclosure.
  • FIG. 7 illustrates an example of an MRE calculation flow, according to aspects of the disclosure.
  • FIG. 8 illustrates an example of using blockchain for investing, according to aspects of the disclosure.
  • FIG. 9 illustrates various equations that can be used for investing, according to aspects of the disclosure.
  • FIGS. 10-12 illustrate various parties, transactions and elements that can be used to board a home onto the platform.
  • FIG. 13 is an example screen shot, according to aspects of the disclosure.
  • FIGS. 14-21 A illustrate other example aspects of the disclosure. DETAILED DESCRIPTION OF ASPECTS OF THE DISCLOSURE
  • impact investors can participate alongside return oriented investors by homogenizing home funding across all strata of homeowners and risk profiles.
  • investment capital can be segmented from the capital supplied by or on behalf of the homeowner in the amounts dictated by quarters MRE calculation.
  • a MRE of 14.25% can be calculated based on this borrower’s risk profile, meaning that the borrower can have a down payment of $28,500 or 14.25% of the $200,000 purchase price to purchase the home.
  • Investors can purchase the other 85.75% of the home for $171,500, with assurances that the investment is secure due to the MRE calculations and risk pool.
  • an alternative option may be used when the borrower does not have the required down payment and wishes to rent instead.
  • the capital to meet the MRE requirement can be provided by a combination of both the homeowner and a third-party impact investor.
  • One example of the impact of this type of residential home funding models can be the lower monthly payment obligation of the homeowner.
  • rent can be, for example, 25 - 35% lower than both the market rent and the mortgage.
  • This differential can provide an arbitrage opportunity allowing the homeowner to purchase the additional equity held by the impact investor to meet the MRE requirements.
  • the homeowner can purchase the equity from the impact investor over time by simply paying market rent until the minimum equity threshold is met, after which their monthly payment drops to just the amounted required to service the 85.75% holders. Meanwhile, as long as the MRE is continually met by either the homeowner, the impact investor or some combination of both, the investment can look exactly the same to holders of the 85.75% interest as any other investment on the platform.
  • a 10% equity purchase and resale by an impact investor to a homeowner calculated using market rent payments and a 5 year repurchase window can generate an annualized return of more than 20% for the impact investor.
  • the impact investors along with the homeowner can take first losses in the event of a homeowner default.
  • a framework can be provided to enable impact investors to plug and play with the platform design.
  • An experience can be provided for impact investors that can allow them to easily design a program to their specific needs (e.g., within predetermined guidelines) and leverage the infrastructure with as little effort as possible.
  • this framework can be similar to an Amazon experience, except with impact investors instead of retailers leveraging the infrastructure.
  • a blockchain based smart contract can be used, although those of ordinary skill in the art will see that a non-blockchain based contract (and software to implement the same) can also be used.
  • FIG. 6 illustrates an example process for using blockchain, according to aspects of the disclosure.
  • Requests for performing such transactions can be received from entities (e.g. investors) that transact in these asset tokens.
  • the asset tokens can be backed by an asset (e.g. real property). While the present disclosure describes in detail transactions with respect to real property assets, the teachings can be implemented on other assets in a similar manner.
  • the asset tokens can be generated using a cryptographic hash of information that uniquely identifies the asset.
  • the tokens can have an owner that uses an additional public/private key pair.
  • the owner public key can be set as the token owner identity, and ownership proof can be established by providing a signature generated by the owner private key and validated against the public key listed as the owner of the token.
  • Asset tokens can digitize ownership interests in certain assets (e.g. real property) to enhance access to the assets, enable tracking of assets based on their characteristics, and create efficiencies in supply chain management and trade finance. These tokens may be used as a medium of exchange and as an alternative to fiat currencies in, for example, settlement, payments, international remittances, investments, financing, and other activities.
  • assets e.g. real property
  • These tokens may be used as a medium of exchange and as an alternative to fiat currencies in, for example, settlement, payments, international remittances, investments, financing, and other activities.
  • asset tokens may be issued and/or exchanged based on availability of inventory of the asset in accordance with established procedures and exchanges for the asset.
  • Transaction of asset tokens can include purchasing of asset tokens, redeeming of asset tokens, transferring of ownership of asset tokens, providing of assets that back the asset tokens, etc.
  • the asset tokens and associated transactions may be recorded in a blockchain based smart contract.
  • Each asset token may be associated with a standardized smart contract that specifies transactions that can be performed on the asset.
  • Blockchain can be a public ledger of all transactions of a blockchain- based data storage.
  • One or more computing devices may comprise a blockchain network, which may be configured to process and record transactions as part of a block in the blockchain. Once a block is completed, the block is added to the blockchain and the transaction record is thereby updated.
  • the blockchain may be a ledger of transactions in chronological order or may be presented in any order that may be suitable for use by the blockchain network.
  • transactions recorded in the blockchain may include a destination address and an amount, such that the blockchain records the amount attributable to a specific address.
  • the transactions may be financial and/or include additional or different information such as source address, timestamp etc.
  • the blockchain may also include data as a form of transaction placed in a distributed database that maintains a continuously growing list of data records hardened against tampering that maintains a continuously growing list of data records hardened against tampering and revision, and may be confirmed and validated by the blockchain network through proof of work and/or any suitable verification techniques associated therewith.
  • data regarding a given transaction may further include additional data that is not directly part of the transaction appended to transaction data.
  • the inclusion of such data in a blockchain may constitute a transaction.
  • the inclusion of such data in a blockchain may constitute a transaction.
  • a smart contract can be a computer code that programmatically executes transactions that may be defined by a written contract or other pre-defined conditions.
  • the computer code may be executed in a secure platform (e.g., an Ethereum platform, which provides a virtual machine) that supports recording transactions in a distributed ledger.
  • a secure platform e.g., an Ethereum platform, which provides a virtual machine
  • the smart contract itself may be recorded as a transaction in the distributed ledger using an identity token that is a hash (i.e., identity token) of the computer code so that the computer code that is executed can be authenticated.
  • identity token that is a hash (i.e., identity token) of the computer code so that the computer code that is executed can be authenticated.
  • a constructor of the smart contract executes, initializing the smart contract and its state.
  • the state of a smart contract can be stored persistently in the distributed ledger.
  • a message can be sent to the smart contract, and the computer code of the smart contract can execute to implement the transaction (e.g., debit a certain amount of asset tokens from the balance of an account).
  • the computer code can ensure that all the pre-defmed conditions are met before the transaction is recorded in the distributed ledger.
  • a smart contract may support the sale of an asset.
  • the inputs to a smart contract to sell a portion of an asset may be the identity tokens of the seller, the buyer, and the asset and the sale price.
  • the computer code ensures that the seller is the current owner of the asset and that the buyer has enough funds in their account.
  • the computer code then records a transaction that transfers the ownership of the asset to the buyer and a transaction that transfers the sale price from the buyer's account to the seller's account.
  • the asset token transactions can be related to the purchase and sale of a portion or an entirety of a real property between one or more property occupants (e.g. homeowners) who reside at the property and/or one or more investors in the property who have a financial interest in the property.
  • the proportion of ownership between the various occupants and investors can be based on a proportion of the tokens and TIC interest that are owned by the entity.
  • Such transactions can provide capital to homeowners who are not accredited investors to purchase their houses and have an undivided fractional ownership of the house with the investors. For example, if the homeowner funds 5% of the purchase price and investors fund 95% of the purchase price, the homeowner can need to pay rents to the investors for the 95% interests held by the investors per month. The recurring rent payments can be made to the investors via smart contracts. Thus, the investors can receive the cash flow from their investments and the homeowner will have the right to live in the house, subject to the rent payments.
  • each home can have 95,000 non-divisible asset tokens minted for transactions.
  • a homeowner-to-be can purchase a 5% interest in the residential property and receive a 5% TIC interest in the home.
  • Investors can purchase a 95% interest in the residential property and receive 95,000 asset tokens.
  • An entity that facilitates this sale e.g. a real estate website) can receive a commission the net sales proceeds from the consideration paid by the homeowner and the investors.
  • a homeowner who owns a fraction of the home has a positive money event, the homeowner may buy more fractions of the home owned by the community of investors. For example, if the homeowner wants to pay an additional $25,000, the asset token ownership positions of all owners can be adjusted, and $25,000 worth of asset tokens can be redeemed and $25,000 worth of TIC ownership transferred to the homeowner. The homeowner’s new monthly rent payments can also be reduced accordingly. Alternately, if the homeowner needed more money, the homeowner can trade fractions of the home. In such a case, the homeowner’s monthly rent payments can be increased accordingly.
  • the homeowner can have the right to live in the house.
  • occupancy right can be evidenced by an occupant token that would be specific to each residential property. Holding an occupant token can require payment of rent to investors via smart contracts.
  • the occupant token may be involuntary redeemed by the investors if there were an event of default by the homeowner as set forth in the agreement between the homeowner and the investors.
  • homeowner desires to move out of the house, the homeowner can sell his or her asset tokens and the corresponding occupant token, which would then be transferred to a new homeowner.
  • the asset-backed token transactions can be structured in the following ways: (i) Tenant-in-Common (TIC) structure (e.g., see FIG.
  • FIG. 4 illustrates a hybrid structure.
  • the tokens can be represented by direct Tenant-in-Common interests in the asset.
  • the tokens can be represented by beneficial interests in a DST to be governed by a trust agreement. This structure can eliminate the need to record a deed to evidence the change of ownership every time a transfer of a TIC Interest is made.
  • the tokens can be represented by membership interests in an LLC and/or DST, which would be the co-tenant with the homeowner.
  • Homeowner may own an undivided fractional (e.g. 5%) TIC ownership interest in the house alongside the remaining (e.g. 95%) TIC ownership interest of the investors’ LLC and/or DST.
  • the homeowner’s TIC Interest and Investor LLC’s and/or DST TIC Interest can collectively constitute a “Co-Tenant TIC Interests” under such a structure.
  • both the homeowner and Investor LLC and/or DST can have voting and management rights, which can be documented via the TIC Agreement. Investors can be the holders of the LLC or DST Interests in Investor LLC and/or DST. If the homeowner wishes to purchase or sell its Co-Tenant TIC Interest from or to Investor LLC, then Investor LLC can facilitate such purchase or sale and adjust the rental payments accordingly relative. If the homeowner wishes to purchase its Co-Tenant TIC Interest from or to Investor DST, then Investor DST can facilitate such purchase and adjust the rental payments accordingly relative.
  • Example Problem Description Currently, some methods by which a potential home buyer’s risk may be mitigated leads to homeowners in the highest risk class being given higher interest rates to recover potential losses at a given credit score, LTV, and/or DTI. This can lead to homeowners with the least ability to pay having to pay more on their mortgage every month, increasing the likelihood of default.
  • MRE Minimum Retained Equity
  • MRE can be based on the risk of the individual home buyer and the performance of Quarter’s global risk pool.
  • LTV can be the ratio loan amount against a property to the actual value of the property.
  • MRE Minimum Retained Equity
  • DTE Debt to Income
  • FIG. 7 illustrates an example MRE calculation flow, according to aspects of the disclosure.
  • LTVs don’t exist (e.g., as there may not be loans, and instead home ownership may be ’’fractionalized”). Instead, the LTV value can be roughly equivalent to the MRE and can be treated as such for the purposes of producing initial values to use for the model.
  • the data can be fit to a non-linear model to make determinations about how the scores between the ’’blocks” of credit s cores/LTV s/DTIs behave.
  • a non-linear model can be chosen as the relationship being modeled may be inherently non-linear as there is a threshold above and/or below which changes in either credit score or LTV no longer have an appreciable effect on default rates.
  • the function resulting from the fitting of available data blocks can be a multivariate equation we can represent as
  • C s can be the credit score of a consumer
  • Emin can be the minimum retained equity
  • I r can be the Debt to Income ratio (DTI)
  • !((' ⁇ ,, Emin, Ir) can be the expected default rate based on the real world data available.
  • D m can be the maximum tolerable chance of default
  • C s can be the consumer’s credit score
  • I r can be the debt to income ratio
  • E (D m , C s ) can evaluate to the minimum retained equity the consumer may need to have to keep below the maximum tolerable default change.
  • the E (D m , C s , / / ,) function can be refit and tuned to provide more accurate data.
  • the platform can be designed to have a risk pool which can share the risks of every property of the network, the risk pool can holds 1% of the value of each home on the network, which can entitle it to 1% of the rent and/or HPI accrual for each property. Additionally this risk pool can be evaluated with the MRE for each property assumed to be recoverable at some rate R.
  • the total assets can be held by the risk pool and can be computed as shown in EQUATION 1, where H h can be the total number of HPI tokens held by the risk pool, H v can be the current value of HPI tokens, V h can be the value of the home, / can be the rent rate of the home, and/or P h can be the number of rent payments made by the occupant of the home
  • U can be calculated for each property as:
  • R can be the normalized recovery rate
  • E h can be the MRE for the property. Evaluating these values for each home in the network and normalizing them by their likelihood of default (e.g., using an analysis of credit scores)can provide the total loss that is the risk pool that can be responsible for covering using EQUATION 2.
  • D can be the function described in the analysis of credit scores
  • C h can be the credit score for the homeowner
  • E h can be the MRE for the homeowner
  • / / can be the debt to income ratio for the homeowner
  • U h can be calculated as shown above.
  • This metric can be interpreted as follows in some aspects of the disclosure:
  • Rheaith 1: The pool has exactly enough assets to cover the expected losses.
  • n max a maximum allowable change in the health of the risk pool a property is allowed to introduce.
  • Rheaith can be a current risk pool health
  • Utot can be the total expected losses for the risk pool
  • D (Ch,Eh,Ih) can be the expected default chance for the property
  • U h can be the unrecoverable losses for the house if it were to default
  • Atot can be the current value of assets held by the risk pool, and/or can be the value of the home.
  • FIGURE 9 illustrates an example of how smart contracts and blockchain can be used for investing, according to aspects of the disclosure.
  • ownership of the home can be granted to both the occupant and the SPE as tenants in common via a warranty deed.
  • a smart contract can be created by the SPE which can issue asset tokens which can represent ownership in the SPE and can be sold to the investors to fund the purchase of the TIC interest pursuant to step 1.
  • the Asset tokens can be distributed to the investors and also to the risk pool.
  • a smart contract can be created between the occupant and the SPE which can contains a tenants in common agreement and a lease.
  • a smart contract can be created by the SPE which can issue the occupancy token to the occupant.
  • a smart contract can be created which can contain an agreement to assign home appreciation to the HPI asset pool and in exchange can issue HPI tokens which can be included in the sale of asset tokens.
  • the HPI tokens can represent ownership in the appreciation rights and can be distributed to the investors with the asset tokens and also to the platform owner/manager.
  • all of the transactions can be recorded onto the blockchain.
  • Applicant A person who may make an application to become a homeowner and occupant of a home on the platform.
  • Back End DTI A ratio that can be expressed as a percentage which indicates what portion of a person’s monthly income goes towards paying debts.
  • Base Rent The amount which may need to be paid each month by the occupant excluding other items (e.g., taxes, insurance, HOA fees, other escrow impounds or pass through payments for third party obligations).
  • other items e.g., taxes, insurance, HOA fees, other escrow impounds or pass through payments for third party obligations.
  • Burning may refer to the permanent removal of existing tokens from circulation.
  • Capital Improvement Value The calculated value of capital Improvements that may be made to a home by the occupant.
  • the valuation of record which may be based using an enhanced valuation methodology such as a BPO, full appraisal and/or other valuation methodology adopted by the platform.
  • AVM Automated Valuation Model
  • Enhanced Rent The additional amount which may be paid by the occupant to an impact investor, which may be calculated as the market rent less the platform (e.g., owned and/or operated by Quarter) rent for a given home.
  • Excess Equity The amount of unencumbered equity which may be held by the occupant which is in excess of their Minimum Retained Equity (MRE).
  • Fiat Currency A national currency which can usually be issued by a country's government or central bank, for example US dollars.
  • HPI Equity Pool A pool of home equity which can include the aggregate appreciation of all of the homes on the platform.
  • HPI Realization Percentage The amount, stated as a percentage between 0 and 100, which can be applied to the HPA for the current period in order to calculate the number of HPI Tokens to be unlocked.
  • HPI Token A token issued by the platform which can be backed by the home price appreciation of all of the homes on the platform. Impact Investor: A person or entity who can assist an applicant in meeting the Minimum Retained Equity (MRE) requirements to qualify to become a homeowner on the platform.
  • MRE Minimum Retained Equity
  • Initial Holder A person or entity who acquired tokens in an initial issuance directly from the platform owner/operator.
  • Minimum Retained Equity The minimum equity an occupant may need to retain based on current underwriting criteria. This can be a dynamic number which can change based on property and/or occupant profiles at a given moment in time and can be used to manage default risks.
  • Occupant The tenants in common owner who may be designated as the homeowner and may be in possession of the occupancy token.
  • Qualified Institutional Buyer A company that can manage a certain amount (e.g., at least $100 million) of securities on a discretionary basis and/or is a registered broker- dealer investing a certain amount (e.g., at least $10 million) in non-affiliate securities.
  • Quarter Platform Preferred Provider A real estate agent and/or brokerage with whom the platform network may have negotiated a contract to provide home listing and/or sales services.
  • Quarter Transaction Fee A fixed fee which may be assessed by the platform on all transactions which can take place on the platform, except the initial boarding onto and/or the exit of a home from the platform, and/or the initial purchase of asset tokens by the initial holder when a home is boarded into the platform.
  • Quarter Real Estate Commission Fund A fund that can be established to pay future real estate sales commissions on behalf of the property owners. This can be funded monthly from the platform fees collected by the platform as the rent payments are made.
  • Rent The total payment which may need to be paid each month by the holder of the occupant token which can include base rent, platform fees and when applicable, taxes, insurance and/or HOA escrows.
  • Retained Risk Pool A pool of asset tokens which may be held by the network to form a risk- pool for the purpose of mitigating occupant default risk.
  • SPE Special Purpose Entity
  • Tenants in Common A legal way in which more than one owner of a property can hold title.
  • a Tenants in Common interest can be a legally undivided interest in a property which can be held and may have no right of survivorship.
  • Tenants in Common Agreement A legal agreement which can govern how a tenants-in- common partnership will be managed.
  • Triple Net Lease A lease agreement that can be held for a property, whereby the tenant or lessee promises to pay all the expenses of the property, including real estate taxes, building insurance, and/or maintenance.
  • the occupancy token can be a non-fungible token which can be issued to a homeowner by an SPE upon execution by the occupant and the SPE of the TIC agreement and/or triple net lease and closing of the purchase of a TIC equity interest in the subject home.
  • the occupancy token can confer certain rights and/or obligations upon the holder as described herein.
  • the occupant can have the right to occupy the home pursuant to a jurisdictionally specific tenants in common agreement and/or a triple net lease which can contain, for example, the following provisions: i) The term can be perpetual unless terminated pursuant to pre-defined terms. ii) Rent can be paid by the occupant via the platform to the SPE in an amount that can be calculated as the sum of the base rent, platform fee, accrued late fees, and/or repayments of advances.
  • the rent payment can also include an impound for taxes, insurance and/or HO A fees.
  • the determination of whether there will be an escrow account impound may be based on an algorithm using various consumer and/or property data points and/or local jurisdictional requirements.
  • any impounded escrow payments can be paid to a third party escrow services provider.
  • the occupant may pay, separately from rent, property taxes, hazard insurance premiums and/or HOA fees (including fines) as they become due directly to the appropriate taxing, insurance, and/or HOA authorities/agent(s).
  • the occupant may need to timely pay any obligation which may become a lien on the property, including but not limited to: water and/or other utility bills, code enforcement fines, special assessments, and/or contractors hired by occupant to perform work or services on the home.
  • the occupant may have an obligation to perform and/or pay for all routine maintenance of the property not covered under a home warranty, which may be provided under the terms of the TIC Agreement and/or the triple net lease agreement.
  • the occupant If the occupant is not in compliance with the maintenance requirements (e.g., section l(a)(v)) and/or does not cure non-compliance within a pre-defined number of days of notification of the non-compliance, then the occupant can be considered in breach and/or a third party contractor may be hired at the occupants sole expense to perform the necessary maintenance work to bring the home back into compliance, which costs can be due and payable by occupant and added to the amount of the next rent payment.
  • the maintenance requirements e.g., section l(a)(v)
  • a third party contractor may be hired at the occupants sole expense to perform the necessary maintenance work to bring the home back into compliance, which costs can be due and payable by occupant and added to the amount of the next rent payment.
  • Any payment for third party contractors hired e.g., under section l(a)(vi) which fall due prior to the next scheduled rent payment can be advanced from the retained risk pool and can be reimbursed by the occupant.
  • Deductibles incurred under the terms of any home warranty program can be paid by the occupant.
  • Rent payments can be paid in fiat currency.
  • Late payment terms (fees and/or timing) can be determined.
  • the occupant can be required on each annual anniversary of their acquisition of the occupancy token to take and submit interior and exterior photos of the property using any computer.
  • any element of the system can be managed by an administrator and/or accessed by a user using any computer or combination of computers (e.g., desktop computer, laptop computer, mobile computer).. xi) If the occupant does not comply with pre-set rules (e.g., section l(a)(x)) within a pre-determined amount of time, the occupant can be notified of their non- compliance. If the occupant is still in non-compliance within a pre-determined amount of time after notification of non-compliance, a third party can be contracted to inspect the property and/or photographs and upload the photos. (Any extra costs associated with photos or any other issues related to the home or the system can be added to the amount of the next rent payment.)
  • pre-set rules e.g., section l(a)(x)
  • Any payment for a third party contractor hired under pre-defined criteria which may fall due prior to the next scheduled rent payment can be advanced from the retained risk pool and can be reimbursed to the retained risk pool when paid by occupant.
  • Any obligations under pre-defined criteria e.g., sections l(a)(iii), l(a)(iv), l(a)(iv), l(a)(vi), l(a)(vii) and/or l(a0(xi)
  • pre-defined criteria e.g., sections l(a)(iii), l(a)(iv), l(a)(iv), l(a)(vi), l(a)(vii) and/or l(a0(xi)
  • a lien can be placed on the entirety of the Occupant’s Minimum Retained Equity for the amount of the shortfall xvi) Placement of a lien (e.g., pursuant to l(a)(xiii) or l(a)(xv)) can trigger an eviction proceeding, revocation of the occupancy token, sale of the home, or dissolution of the TIC agreement, or any combination thereof. Local law can be used to determine the eviction proceedings, etc.
  • relevant valuation e.g., current or enhanced
  • fiat currency e.g., USD
  • the amount of equity to be transferred can be calculated by dividing the relevant valuation (e.g., current or enhanced) by the amount of fiat currency (e.g., USD) the homeowner can wish to receive, plus any transfer taxes or fees, and the network transfer fee.
  • equity can be divisible to .001 and can be transferred by amending the TIC deed and can be recorded subject to an escrow agreement with a third party title company or other provider of settlement services.
  • the amount of funds received by the occupant can be net of any transfer taxes or fees, and the network transfer fee and can be settled to occupant in fiat currency (e.g., USD).
  • the occupancy token can confer upon the occupant the right to sell the home in its entirety as follows: i) The occupant can give notice to the investor(s) of their intent to sell the home and the price at which the home shall be listed. ii) Upon receipt of the intent to sell and the initial listing price, the investor(s) can have a right of refusal to purchase the property at the initial listing price for a pre determined amount of time.. iii) Upon expiration of the right of first refusal, the occupant may list the property with the realtor who is a network preferred provider. iv) Notwithstanding section l(c)(iii) herein, if the occupant is a licensed realtor, they may act as the listing agent provided they are in compliance with all pre-defined terms and conditions.
  • Occupant may use listing and purchase contract addendums provided by the platform, which may state that any liability incurred as a result of occupants breach of the listing and/or sales agreement (e.g., such as a specific performance claim, etc.) cannot attach to the home, and may release and/or otherwise indemnify the investor(s) from any claims related to the listing and/or sale.
  • the investor(s) can have a right of first refusal for a pre determined amount of time to match the offer.
  • the investor(s) may have a pre-determined amount of time to decide if they wish to retain their interest and/or include it in the sale.
  • a decision by investor(s) to retain their interest in the property may not guarantee that they will retain the same percentage interest as they held previously, as the precise amount of their holdings may be based on the amount that the new occupant purchases relative to what the original Occupant was holding at the time of sale.
  • Equity reallocation may be done pro-rata among all previous investors wishing to retain their interest.
  • the rent and base rent can be recalculated based upon the sale price of the home. This can be true even if the existing investor(s) choose to retain their ownership interest.
  • xi) In the event that the home may be sold to a buyer who may not use the network to fund their acquisition, the occupancy tokens (and/or asset tokens) can be redeemed and/or burned, and the TIC Agreement can be terminated and the SPE can be dissolved. xii) Settlement of the home sale can occur in US fiat currency. ) The occupancy token can confer rights upon the holder to make capital improvements to the home and to benefit from those improvements. a) Occupants can notify the platform as manager of the SPE not less than a pre-determined amount of time in advance of any plans to make capital improvements to the home. b) A current enhanced valuation can be ordered by the platform to determine the pre and post improvement valuation of the home in order to calculate the capital improvement value.
  • the post improvement valuation can require an onsite inspection to confirm the work has been completed.
  • Occupant can bear the costs for the valuations.
  • the capital improvement value can be calculated by subtracting the post improvement value from the pre improvement value.
  • the TIC agreement can be amended to allocate the capital improvement value to the net proceeds that the occupant can receive upon sale of the home.
  • the asset tokens can be a fungible token issued by the SPE which can confer certain rights and obligations on the holder described herein.
  • the asset tokens can represent ownership in the home for any combination of the following: i) A SPE can be the named entity on the TIC deed on behalf on the investor(s) and can hold the real estate interest. ii) The special purpose entity can initially be a Limited Liability Company (LLC), but could also be a Delaware Statutory Trust (DST), Series LLC, Land Trust or other entity legally entitled to hold real property in the jurisdiction in which the home is located. iii) There may be >1 SPE named on the TIC deed for a home, for example both an LLC and a DST. iv) Asset tokens can be allocated to investors on a pro-rata basis in the same proportion as their ownership in the SPE and can be issued in exchange for a fiat currency investment (USD) in the SPE.
  • USD fiat currency investment
  • the platform may decide to accept other payments, such as stable coins or other fiat currencies in the future.
  • the token holder may have pre-determined governance rights in the SPE.
  • the holders of asset tokens may have any combination of the following rights: i) Right to receive rent payments pursuant to their proportional ownership in the SPE as calculated using a formula which can multiply the sum of the base rent and, subject to section 3(b)(1), any late fees, by the proportional number of asset tokens owned.
  • Late fees paid to occupant can be distributed to the holders of asset tokens proportionally to their holdings unless the underlying payment which generated the late fees was advanced by the retained risk pool in which case the late fees can be distributed to the retained risk pool.
  • the commission credit shall be capped at a maximum of 4% of the sale price.
  • Asset token holders can receive uninterrupted rent payments in the event of an occupant default to the limit of the assets held in the retained risk pool.
  • Asset token holders can not be required to fund any out of pocket expenses related to occupant default to the limit of the assets held in the retained risk pool.
  • asset tokens there can be a right to encumber asset tokens for leverage purposes.
  • the occupant can have the right, subject underwriting guidelines, to sell a portion of their TIC holdings (e.g., known as excess equity).
  • the asset token holders can be notified of the sale and can have the right but not obligation to purchase additional asset tokens being sold by the SPE to raise the capital to purchase the TIC interest from the occupant. Should more than one asset token holder request to purchase additional asset tokens, then the amount of asset Tokens can be divided and/or sold proportionally between them based on the amount of asset tokens owned immediately prior to the proposed transaction.
  • the holders of asset tokens can have the following obligations: i) So long as they are in compliance with all obligations as the holder of the occupancy token, the occupant may request at any time to purchase any fractional TIC amounts of their home from the SPE which may need to be honored. ii) Any transaction conducted pursuant to Section 3(c)(i) can be transacted at the current valuation of the home if the pre-determined amount (e.g., $ or % (fractional amount) of the transaction is below a pre-determined amount, and/or at the current enhanced valuation if higher (also see section l(b)(ii) herein)).
  • the pre-determined amount e.g., $ or % (fractional amount) of the transaction is below a pre-determined amount, and/or at the current enhanced valuation if higher (also see section l(b)(ii) herein)
  • Net proceeds from any sale conducted by the SPE pursuant to Section 3(c)(i) hereunder may be distributed to asset token holders on a pro-rata basis. Net proceeds can be calculated under pre-determined rules. For example, as the total amount paid by the occupant minus the transaction fee and less any other costs of sale or transfer (recording fees, title costs, transfer taxes, etc.).
  • Transfers of TIC interests from the SPE to the occupant can be recorded on an amended deed and recorded subject to an escrow agreement with a third party title company or other provider of settlement services.
  • HPI tokens can be a fungible token issued by (a bankruptcy (BK) remote SPE which can exist for the purpose of holding the HPI equity pool assets and issuing the HPI tokens OR by the SPE which has contracts with the BK remote SPE such that each SPE can issue the HPI tokens independently).
  • HPI tokens can be backed by a pool of equity generated by appreciation of every home (or a subset of homes) on the platform. The ownership of this equity can be transferred to the HPI equity pool by the asset token holders in exchange for
  • HPI tokens can be issued contemporaneously with asset tokens when a home can be initially boarded onto the platform. i) HPI tokens issued with asset tokens can be locked when issued and/or can remain so unless they are unlocked pursuant to 4(d)(i)of this section. ii) Locked HPI tokens may not be separable from asset tokens and may transfer as part of any secondary transfers which occur subsequent to issuance. iii) A contract can be created with the SPE at the time a property is boarded which can assign the value of the home appreciation to the HPI asset pool, which can be collected upon sale and exit of the home from the platform.
  • the platform can establish predetermined time periods, known as HPI Intervals, when it can update the valuation of each home on the platform for the purpose of calculating the change in the value of each home during that period.
  • HPI Intervals predetermined time periods
  • HP A home price appreciation
  • HPD home price depreciation
  • Pro-rata adjustments can be made if the first period is within a pre-determined amount of time. d) In the event that the valuation at the end of the current HPI Interval exceeds either the valuation at the end of any previous HPI Intervals, which have occurred during the tenure of ownership of the current asset token holder, and/or the value at boarding and/or transfer as described in section 4(c)(i), then this valuation can also be designated as the HPI high-water mark. e) In the event that the valuation for the current HPI interval does not exceed the HPI high- water mark, then no HPI tokens may be unlocked.
  • HPI can be unlocked based on the following formula: i) The number of HPI tokens unlocked for each asset token can be computed by dividing the lesser of either the total HPA (e.g., in USD) minus the HPI high-water mark (e.g., in USD) or the total HPA (e.g., in USD), by the market price of the HPI tokens (e.g., also in USD) then multiplying the quotient by the HPI realization percentage (e.g., initially set at 90%) and then dividing the product by the total number of asset tokens held by investors.
  • the HPI realization percentage e.g., initially set at 90%
  • the current market value can be determined using a variety of possible methodologies. As defined in this document, there may be at least two tiers of valuations which may be utilized within the network: current valuation and/or current enhanced valuation i) Current valuations can be the default valuation of record within the system and/or can be performed using a best in class pre-determined third party AVM. ii) Enhanced valuations can be used in place of current valuations when certain trigger events occur.
  • An enhanced valuation may include any combination of AVMs, physical appraisals, brokers price opinions, sales contracts, asset token sales, or other pre-determined relevant inputs.
  • All valuations can be independent and provided to the network by non-affiliated third parties.
  • the physical condition of the property can be evaluated and documented. There can be a standard set of pre-determined inspections (e.g., wood destroying insects, radon testing, septic tank inspections, water quality, mold, private well inspection) supplemented by local practice which can be determined on a jurisdictional level. Any combination of inspections can be incorporated into a single home warranty inspection certificate and/or policy.
  • i) Physical condition can be determined using best in class products and services utilizing independent third party providers.
  • Title to the property can be examined and a title insurance policy can be issued in order to ensure that both the occupant and/or SPE have an unencumbered interest after the closing occurs and can be protected by insurance in the event of a defect in the title. This can be true in both a new purchase and when an existing homeowner boards the home they currently own onto the platform.
  • an ALTA owner's title insurance policy may need to be purchased.
  • an existing homeowner boarding the home they currently own an ALTA owner's title insurance policy may also needs to be purchased (e.g., only to the extent that the SPE needs to be covered given that the occupant is already on title).
  • the following diligence can be performed for each future occupant (and/or current applicant(s)) as part of the application process before they are approved to board onto the network and are issued an occupant token: a) An applicant credit review can be conducted by running a third party, tri-bureau credit report which can be used to determine: i) The FICO (any version of FICO can be used). The minimum can be a pre determined amount (e.g., 620) to qualify. Credit scores can be retained and accessible to pre-determined parties. A vendor can be requireed to store this information on the platform’s behalf for a pre-determined amount of time.
  • b) Income for the applicant(s) can be determined by: i) In the case of a TrueConnect applicant, the payroll census file to the extent that that is the only source of income needed for qualification. ii) By utilizing an independent, third party income verification service. c) A back end debt to income ratio can be determined for each applicant/application by any combination of: i) Gathering data from the application(s). ii) Gathering data from the credit reports. iii) Discrepancies in liabilities between the application and/or credit reports can be reconciled by using an independent third party verification service. d) The amount of minimum retained equity can be determined by an algorithm which can use the applicants credit score, back end DTI, risk pool composition, or property specific data as inputs, or any combination thereof.
  • the minimum retained equity can be used to calculate the minimum down payment required by the applicant to close the transaction.
  • the applicant can have the ability to transfer the amount of fiat currency (e.g., USD) equal to the value of the minimum retained equity to (e.g., the settlement agent or another party) in order to proceed with the approval.
  • the applicant may need to actually transfer the money, show the funds in an account, or verify with a third party (e.g., Finlocker, or a third party asset verification service).
  • a third party e.g., Finlocker, or a third party asset verification service.
  • the platform can have an infrastructure which can allow impact investors to leverage the platform to assist those applicants.
  • Any requirement that the occupant must fund the minimum retained equity as described in section 6(e)(1) can be modified to allow the impact investor to assist with funding the minimum retained equity.
  • the minimum credit score requirement described in section 6(a)(1) can be waived in order to allow the impact investor to set their own minimum qualification criteria.
  • the impact investor may purchase asset tokens in an amount computed as the minimum retained equity less the amount of equity purchased by the occupant, provided that occupant must purchase not less than a pre-determined amount (e.g., % of the equity at closing) from their own funds.
  • Asset tokens purchased by an impact investor can be locked and may only be unlocked when any combination of the following occurs:
  • asset tokens can be (a) unlocked, redeemed and/or burned after distribution of the proceeds of the sale of the property in the event that the home leaves the network (e.g., the new purchaser chooses not to use the platform) or, (b) unlocked, redeemed and/or transferred to treasury after distribution of net proceeds from the sale; or
  • asset tokens can be (a) unlocked, redeemed and/or burned after distribution of the proceeds of the sale of the property in the event that the home leaves the network (e.g., the new purchaser chooses not to use the platform), and/or (b) unlocked, redeemed and/or transferred to treasury after distribution of net proceeds from the sale.
  • Impact investors asset tokens can be entitled to pro-rata distribution of net proceeds in the event of sale of the home pursuant to sections 6(b)(i)(2) and 6(b)(i)(3) subject to the following formula: (1) Net proceeds from sale less any advances made by the platform pursuant to Sections 3(b)(iii), 3(b)(iv), and 3(b)(v) herein plus any recovery from sale of the occupant’s TIC interests in the home. d) Asset tokens held by impact investors can be entitled to their pro-rata share of the rent plus 100% of the enhanced rent paid by the occupant. i) A portion of the enhanced rent payment can be used to purchase additional TIC interests in the home from the impact investor’s holdings in the SPE. ii) Upon purchase of TIC interests equal to the entirety of the impact investors holdings in the SPE, enhanced rent payment obligations of the Occupant can terminate.
  • FIG. 11 is an illustration of the parties and transactions that can be required to board a home onto the platform.
  • Seller can be the individual or entity who is selling a home which may be purchased by the occupant and the SPE and boarded onto the platform.
  • the seller can receive fiat currency (e.g., USD) from the occupant pursuant to a real estate closing and can issue a warranty deed to the occupant as one of two Tenants in Common.
  • fiat currency e.g., USD
  • the seller can receive fiat currency (e.g., USD) from the SPE pursuant to a real estate closing and/or can issue a warranty deed to the SPE as one of two tenants in common.
  • Occupant can be the consumer who initiates the acquisition of the property and/or becomes the holder of the occupant token.
  • the occupant can pay fiat currency (e.g. USD) to the seller pursuant to the real estate purchase transaction and/or in return can receive a warranty deed granting occupant a tenants in common interest in the home.
  • fiat currency e.g. USD
  • the company that owns the platform that connects and/or manages the relationships and transactions between all of the parties can set up the SPE and/or manage the ongoing administrative functions on behalf of the other SPE owners and in return, can be allocated HPI tokens by the SPE.
  • SPE can be the providers of capital to the SPE, which can enable the SPE to purchase an interest in the home alongside the occupant.
  • the investors can purchase asset and HPI Tokens from the SPE, which can be paid for in fiat currency (USD).
  • USD fiat currency
  • SPE can be the entity which can own the real estate interest on behalf of the investors.
  • USD fiat currency
  • SPE can sell asset tokens to investors who can purchase them in fiat currency (USD)
  • USD fiat currency
  • SPE can purchase an interest in the home from the seller in fiat currency, and in return can receive a warranty deed granting the SPE a tenants in common interest in the home.
  • the SPE can execute a tenants in common agreement and/or a triple net lease with the occupant, and in consideration, can issue the occupancy token.
  • the SPE can enter into a contract granting the rights to a proportional share of all future appreciation to the HPI pool and in consideration can be issued HPI Tokens by the HPI pool.
  • the HPI pool can be a BK remote SPE which can receive all of the future HPI gains from the SPE in exchange for issuing HPI tokens to the SPE.
  • the Risk Pool can be a BK remote SPE which can enter into a contract to advance rent and default costs to the SPE, and in consideration can be issued asset tokens by the SPE.
  • FIG. 12 is an illustration of example parties and/or transactions that can be required to board a home onto the platform in the impact investor program.
  • Seller can be the individual or entity who is selling a home which may be purchased by the Occupant and the SPE and boarded onto the Quarter Platform.
  • the seller can receive fiat currency (e.g., USD) from the occupant pursuant to a real estate closing and/or can issue a warranty deed to the occupant as one of two tenants in common.
  • fiat currency e.g., USD
  • the seller can receives fiat currency (e.g., USD) from the SPE pursuant to a real estate closing and/or can issue a warranty deed to the SPE as one of two tenants in common.
  • Occupant can be the consumer who can initiate the acquisition of the property and/or can become the holder of the occupant token.
  • the occupant can pay fiat currency (e.g., USD) to the seller pursuant to the real estate purchase transaction and in return can receive a warranty deed granting occupant a tenants in common interest in the home.
  • fiat currency e.g., USD
  • the occupant can enter into an agreement with the impact investors and/or the SPE to:
  • Impact investor can be a capital provider to the SPE and/or benefactor of the occupant who can purchases asset tokens from the SPE in, for example, not less than the amount which is equal to the occupant’s MRE less the amount of TIC interests the occupant purchases.
  • the impact investor can enter into an agreement with the SPE and/or the Occupant with the following terms:
  • the impact investor can guarantee the performance of the occupant and/or pledge the asset tokens it owns to the SPE.
  • the impact investor can sell to the SPE a portion of their asset tokens equal to the amount of TIC interest purchased each month by the Occupant.
  • SPE can be the entity which owns the real estate interest on behalf of the Investors.
  • the SPE can sell asset tokens to investors who can purchase them in fiat currency (e.g., USD).
  • the SPE can also sell asset tokens to impact investors who can purchase them in fiat currency (e.g., USD).
  • fiat currency e.g., USD
  • the SPE can purchase an interest in the home from the seller in fiat currency and/or in return receives a warranty deed granting a tenants in common interest in the home.
  • the SPE can execute a tenants in common agreement and/or a triple net lease with the occupant and in consideration, issues the occupancy token.
  • the SPE can enter into a contract granting the rights to a proportional share of all future appreciation to the HPI Pool and in exchange ca be issued HPI tokens by the HPI pool.
  • the SPE can enter into an agreement with the impact investors and the occupant which can have any combination of the following provisions:
  • the SPE can receive an additional payment amount each month from the occupant, paid in fiat currency (e.g., USD), a portion of which can be designated as the purchase additional TIC interests and/or the remainder can be paid to the impact investor as additional rent which can be supplemental to the proportional amount they are entitled to based on ownership of asset tokens.
  • fiat currency e.g., USD
  • Fiat currency received from occupant pursuant to section 9(f)(vi)(l) can be used to redeem asset tokens owned by the impact Investor proportionally to the TIC interests purchased by the occupant.
  • HPI pool can be a BK remote SPE which can receive all of the future HPI gains from the SPE in exchange for issuing HPI tokens to the SPE.
  • Risk Pool can be a BK remote SPE which can enter into a contract to advance rent and/or default costs to the SPE and in consideration is issued asset tokens by the SPE.
  • the following services can be provided in order to board a property and occupant onto the network: a) Consumer diligence (e.g., third party underwriter such as Evolve) i) Credit analysis (e.g., credit report and scores) ii) Capacity to repay analysis (e.g., income verification/assets if asset depletion) iii) Asset verification (e.g., down payment) iv) Know your customer (KYC)/ anti-money laundering (AML)/etc.
  • Consumer diligence e.g., third party underwriter such as Evolve
  • Credit analysis e.g., credit report and scores
  • Capacity to repay analysis e.g., income verification/assets if asset depletion
  • Asset verification e.g., down payment
  • Know your customer Know your customer (KYC)/ anti-money laundering (AML)/etc.
  • Settlement agent can provide one or more of the following services: i) Doc prep and review (e.g., TIC deed, closing statements, etc.) ii) Lien payoff calculations iii) Tax and other proration calculations iv) Notary services v) Funds escrow accounts and make disbursements vi) Document recording vii) Trailing docs d) Title Insurance Company i) Title exam and commitment issuance ii) Policy issuance e) Home warranty i) Policy or contract issuance 1) Hazard Insurance i) Policy issuance g) Escrow impound account i) Setup and funding ii) Ongoing management and reporting h) Servicing i) Via Quarter Platform if not in default ii) Special servicing company if in default i) SPE Setup and governance i) Quarter can perform the necessary tasks to setup and manage the
  • Methods and systems can be provided for performing a transaction via asset tokens and a blockchain based smart contract, the method comprising: receiving a transaction request for an asset token; checking inventory of an asset associated with the asset token; performing a transaction associated with the transaction request when enough inventory is available, wherein the transaction includes transfer of asset tokens between entities; and recording the transaction in a blockchain based smart contract.
  • This can allow automation of matching requests for those who wish are or obligated to sell with those who wish or are obligated to acquire the asset token.
  • This can also allow automated and/or enforceable compliance with contractual obligations.
  • This can create a secure and/or immutable record of each of the transactions, thus creating a chain of title which is difficult to contest.
  • This can enable use of an algorithm to determine which tokens are included in the transaction requisition and which ones to exclude. For example, FIFO (first in first out), pro-rata, etc.
  • Transfer of asset tokens can be done by an entity to change a proportion of the asset owned by the entity. This can allow for automation of legacy transfer processes by removing many of the manual, labor-intensive, and offline steps, and therefore can do at least one of: lower costs as a result of simplifying the transfer processes, speed up the time to consummate a transfer; simplify any post-transfer accounting and audit requirements for a transfer, and enable rapid reallocation of benefits derived from ownership.
  • the asset tokens can be based on real property. This can enable creation of a dynamic marketplace for real estate which can do at least one of: create liquidity in previously illiquid assets; reduce transaction costs associated with real estate transfers; provide the opportunity to democratize investment in real estate assets by lowering the minimum investment threshold, thus allowing many more investors to participate; and opens the opportunity to a global audience. This can also help create opportunities for financial engineering constructs which may be unavailable with standard real estate transactions, thereby lowering to or reallocating the costs of capital to the participants.
  • the transaction can be performed between an occupant of the real property and an investor of real property. This can occur indirectly by using fiat currency paid by the occupant to the issuing entity (SPE) in exchange for TIC interests.
  • SPE issuing entity
  • the SPE can then uses the fiat currency to purchase (e.g., redeem) asset tokens from the investors, deactivates them and then transfer them to treasury. This can allow for transfer of TIC interests between an unaccredited Occupant and holders of the Asset Token who will initially be accredited investors (if US based).
  • the transaction can include rent payment by the occupant to the investor by transferring the asset tokens such that the rent payment is based on a proportion of asset tokens owned by the investor.
  • Each investor can be entitled to a pro-rata amount of the rent paid by the occupant based on the proportion of the asset tokens they own.
  • This can enable periodic payments or the proportional rent to the owner of asset tokens which could occur in fiat currency or other cryptocurrencies such as a stablecoin, Bitcion, etc.
  • This can also facilitate payments by tracking ownership of asset tokens and recording such payments on an immutable blockchain ledger.
  • This can also enables creation of multiple cash flow waterfalls based on ownership of asset token ownership.
  • This can also enable creation of risk mitigation strategies by allocating asset tokens to funds and/or pools specifically designed for risk mitigation purposes.
  • the rent payment can change based on a change in the proportion of TIC owned by the occupant. This can help enable a dynamic rent calculations to occur. Unlike traditional real estate financing methods where payments tend to be fixed regardless of prepayments or current balance of the obligation, basing the rent payment on the proportional amount of the TIC interests owned by the occupant can help enable real time payment changes to occur. For example, a homeowner paying rent at a 4.39% annualized rate to the investors could purchase $1,000 of additional equity in their home, immediately changing the proportion of their TIC interest, and see their monthly payment instantly fall by $3.66 per month. From the Occupants perspective, this can provide an immediate return on their investment as their rent payments are reduced in real time as they increase the proportion of the TIC they own. On the flip side, an investor can also realize an immediate return should they increase their proportional holdings in the TIC via Asset Token purchases. In both examples, the reverse is also true.
  • the transaction can include a change in TIC between the occupant and the investor.
  • This can help enable investors to hold positions in owner occupied single family residential real estate for the first time ever.
  • This asset class may not currently exist as a current method for an investor to gain access to the single family residential real estate market is to hold positions directly or indirectly in rental properties which can require property management and other operational overhead to manage the non-owner occupied tenancies.
  • This can enables the occupant to access equity in their home above the minimum required equity threshold in real time and at an exceptionally low cost. This can eliminate the need for refinancing a home by converting home ownership into cash.
  • the owner/manager can use a server and/or a mobile application.
  • a server and/or a mobile application For example, for the mobile application in FIG. 13, an Occupant can use this or a similar system on a desktop computer, etc. to check their ownership position, sell equity on demand and transer the fiat current (USD) into their account within seconds.
  • USD fiat current
  • the transaction can also include transfer of asset tokens between multiple investors.
  • This can enable the development of a secondary market for fractional real estate ownership. This can create the opportunity for both price discovery in ways which has not been available before.
  • Current legacy fractional ownership constructs such as commercial real estate syndicates or REITs, may have typically traded at a substantial discount to the value of the assets they own due to their illiquidity and lack of a robust secondary market.
  • This can allow for the democratization of real estate investing by enabling transactions between accredited investors who initially purchased the Asset Tokens from the issuer and non- accredited investors, who can later purchase the Asset Tokens after SEC mandated holding periods toll.
  • the Asset Token can have a static nominal (e.g., face) value and may not change in value to the upside (downside can be a different story as prices can fall).
  • the appreciation component can be stripped from the Asset Token such that any value derived from appreciation of the home can be contractually transferred to the HPI Asset Pool (e.g., some form of BK remote entity) which can be the issuer of the HPI Tokens. For example, a $10 investment in an Asset Token can return $10 to the holder from the proceeds of sale at the time the underlying home is sold.
  • the HPI asset pool can represent the appreciation of all the homes in the group of homes.
  • the HPI Asset Pool can aggregate the appreciation of all of the appreciation for all homes on the network into one location which can enable issuance of HPI Tokens which can be used in various financial engineering constructs.
  • HPI asset token can be issued that can be guaranteed by the appreciation of all the homes in the group of homes.
  • the act of issuing HPI Tokens can unlock unrealized gains which may otherwise only be accessible upon either sale of the home or by obtaining a cash out refinance mortgage. This can provide a floor to the value of the HPI tokens based on the value of the underlying home appreciation rights transferred to the pool.
  • HPA or HPD There can also be a compounding effect whereas there may be future HPA or HPD which can occur on the value of the assets already within the pool. Given that there has never been a true HPI index backed by actual homes, this can create a unique opportunity to use HPI tokens to speculate on the future movement of the housing market and to further create additional financial instruments and/or derivatives based on the HPI token.
  • a minimum retained equity can be determined comprising a minimum amount of equity a home occupant must retain based on pre-defined underwriting criteria.
  • Computing the minimum retained equity can provide the basis to manage risk through the use of asset token holdings (by the occupant, the risk pool, and/or the impact investor) and can be a departure to the way a traditional mortgage has operated which can be more inclined to increase cashflow through the use of higher interest rates.
  • Having “skin in the game:; can be a predictor of future consumer performance and the platform has designed the MRE model to reflect that. It further servers as one of the core components from which the occupant’s ability to transfer ownership is built upon.
  • the minimum retained equity can be a dynamic number which changes based on a current property profile and a current occupant profile and is used to manage default risks.
  • MRE as a risk mitigation tool can be helpful in that when combined with a fractional ownership structure, the need to subsidize defaulting consumers by creating extra cash flow via higher interest rates from the entire cohort of similarly situated consumer can be eliminated and can be replaced with by use of a combination of a risk pool of asset tokens contributed by every home on the platform and requiring each homeowner to retain a minimum amount of TIC equity in the property, both of which can be drawn from in the even to occupant non-performance.
  • each homeowner can bear the risk of their own default as they will lose their equity (just like a mortgage) but aren’t required to pay monies in the form of higher payments which they will not get back if they do not default.
  • This can enable a much more dynamic risk mitigation strategy on both an individual consumer basis but also within the entire risk pool.
  • This can also enable dynamic adjustments in underwriting criteria base on the overall health of the risk pool such that new applications can be reviewed and MRE calculated on the basis of the risk pool as well as individual consumer stats.
  • the ability to buy or sell equity in real time can be managed, as the risk profile of the consumer can change the amount of excess equity available to transfer and/or convey to cash (defined as occupant owned equity in excess of MRE) can also change.
  • Ownership of an HPI asset for a property can be transferred to an HPI asset pool by the asset holder in exchange for an HPI asset token.
  • the ability to separate the HPI from the underlying asset can allow for unrealized gains to be carried forward and made liquid in real time.
  • HPI tokens can be issued contemporaneously with asset tokens when a home is initially boarded onto a platform for a group of homes. This can enable the holding periods required by US (and potentially other jurisdictions) securities laws to run in parallel with the periods during which home price appreciation can be measured (e.g., HPI Intervals) such that when the tokens are unlocked at the end of the period the restrictions on transfer can be removed and the tokens can be freely transferred on a token exchange to both accredited and non-accredited investors.
  • the tolling of the holding period can democratize the investments as it enables nonaccredited investors to acquire and hold the HPI Tokens. This can also reduce risk for asset token holders in that they are able to immediately transfer (e.g., sell) HPI tokens in order to reduce their exposure to home price fluctuations. Without the tolling of the holding period, they could be exposed to a 12 month holding period.
  • HPI tokens issued with asset tokens can be locked when issued and remain locked unless they are unlocked under pre-defmed conditions. This can reduce or eliminate the need to conduct subsequent token offerings to the extent that HPI Tokens can be issued in sufficient quantities to fulfill the obligations to pay the asset token holder for future HPA gains.
  • Locked HPI Tokens may not be separable from asset tokens that transfer after issuance. This can enable transfer of asset tokens along with HPI Tokens which may be the rights to future HPA gains in a single transaction. This can also help toll the holding period by eliminating the need to issue new HPI tokens each time the asset token is transferred.
  • An updated valuation can be done for each home in a group of homes on the platform in order to calculate the change in value of each home during a current period. This can enable the calculation of the value of the underlying appreciation assets transferred to the HPI pool. This can also enable the immediate pricing and transfer of TIC interests between the occupant and the investors. This can also enable creation of a secondary market for asset tokens where frequent valuations may assist with price discovery.
  • the home price appreciation (HPA) or home price depreciation (HPD) can be calculated for the current period, wherein the HPA or HPD can be the difference between the valuation determined at the end of a previous period and the valuation determined at the end of the current period.
  • HPA home price appreciation
  • HPD home price depreciation
  • This can provides a basis on which to calculate the number of HPI tokens to be unlocked for each asset token. This can enable the HPI token to act as a true home price index using the homes on the platform.
  • a boarding value and/or transfer value can be substituted for a previous period difference: when a home was boarded onto the platform during the current period or within a pre-defmed amount of time preceding the current period; or when an occupancy token was transferred to a new occupant during the current period or within the pre-defmed amount of time preceding the current period.
  • This can enables methods to avoid double counting appreciation when issuing HPI tokens or when asset tokens are transferred.
  • This can also enables automated tracking of investor basis and nominal value of the asset tokens and adjustments in nominal values of asset tokens in times of falling home prices. This can allow for investors who hold asset rokens to have their HPI token allocation tracked and/or calculated differently based on when they were purchased and how home prices have moved since doing the above.
  • Pro-rata adjustments can be made, for example, if the first period is short (e.g., a predetermined time).
  • a reset can be done when secondary transfers occur after a value decline.
  • the nominal value of the asset token may be reset so that the holder of the asset token does not receive a double payout for HP A.
  • An example would be a home in which investor holdings are valued at 100K when the asset tokens are issued and subsequently rises to 150K.
  • HPI tokens can be unlocked periodically based on the 50K rise in value. Then the value falls back to 120K and then rises again to 140K. The asset token owner who did not sell his or her asset tokens during this period may not be entitled to unlock additional HPI tokens based on the rise in value from 120K to 140K.
  • a high-water mark can be established such that no HPI tokens can be unlocked until the valuation surpasses the high-water mark of 150K.
  • an asset token holder decides to sell their tokens prior to the high-water mark being reached after a decline (e.g., let’s assume they sell at 100K), they may have the nominal value of the asset token reset such that they only receive net proceeds equal to the lower valuation of in this case 100K.
  • the new owner of the Asset Tokens may begin at 100K and therefore may be entitled to unlock HPI tokens for any increase above 100K.
  • the HPI can be unlocked when the HPA for the current period is >0 and satisfies the following conditions: the number of HPI tokens unlocked for each asset token is computed by dividing the total HPA by the market price of the HPI tokens; and/or a computed number of HPI tokens unlocked for each asset token is multiplied by a predetermined amount (e.g.,
  • HPI Tokens can be unlocked in tandem with HPA and enable the holder of Asset Tokens to realize gains which would otherwise be inaccessible without selling and/or refinancing the home with a traditional mortgage. Further, this can create the opportunity for very small price movements to be realized, unlike a refinance or sale where the fees and costs associated with the transaction may consume much of the HPA gain.
  • HPI token pool is entitled to receive pursuant to the issuance of HPI tokens can be utilized to purchase HPI tokens that are then burned. Burning of the HPI tokens can manage inflationary pressures from impacting the value of the HPI Tokens. This can also eliminate the need to distribute the proceeds from the sale of the homes underlying the HPI appreciation pool which may increase costs and accounting /regulatory burden ultimately reducing the overall return potential for investors.
  • Minimum retained equity can be determined using: an applicant’s credit score, back end DTI, risk pool composition, or property specific data as inputs, or any combination thereof.
  • the minimum retained equity can be used to calculate a minimum down payment required by an applicant who wishes to be an occupant in order to close on the home.
  • Today’s financial markets e.g., the real estate financing market
  • interest rates can be used as a first line tool for risk management.
  • the net result can be that those who can least afford it typically pay the most.
  • MRE minimum retained equity
  • Asset tokens purchased by an impact investor can be locked until: the occupant purchases equity from the Impact Investor, in which case a corresponding number of asset tokens shall be unlocked, redeemed and transferred to treasury; and/or the occupant chooses to exercises their right to sell the property, in which case the asset tokens shall be: unlocked, redeemed and burned after distribution of the proceeds of the sale of the property in the event that the home leaves the network; or unlocked, redeemed and transferred to treasury after distribution of net proceeds from the sale; and/or the occupant is in default and the home is sold in which case the asset tokens shall be: unlocked, redeemed and burned after distribution of the proceeds of the sale of the property in the event that the home leaves the network; or unlocked, redeemed and transferred to treasury after distribution of net proceeds from the sale.
  • the entire impact investor program can be plug and play, meaning that it fits within the overall design of the platform and comports with the management of asset tokens.
  • the impact investor can provide the required capital to supplement the capital the occupant can provide to meet the MRE requirements to become a homeowner.
  • asset investment opportunities with and without an impact investor can be homogenized sufficiently that from the perspective of the non- impact investors perspective so they can be treated exactly the same from a risk perspective.
  • They can be governed by smart contracts which can enable everything described above to be automated. Further, smart contracts can be customized to meet the specific needs of impact investors allowing them to better focus on serving their clients.
  • the owner/manager can provide the turn key infrastructure for socially conscious capital to plug into.
  • Impact investor’s asset tokens can be entitled to pro-rata distribution of net proceeds in the event of sale of the home under at least one of the following circumstances: a) asset tokens held by impact investors are entitled to their pro-rata share of the rent plus 100% of the enhanced rent paid by the occupant; b) a portion of the enhanced rent payment shall be used to purchase additional TIC interests in the home from the impact investor’s holdings in the SPE; c) upon purchase of TIC interests equal to the entirety of the impact investors holdings in the SPE, enhanced rent payment obligations of the occupant shall terminate; d) impact investors asset tokens are entitled to pro-rata distribution of net proceeds in the event of sale of the home; e) asset tokens held by impact investors are entitled to their pro-rata share of the rent plus 100% of the enhanced rent paid by the occupant; f) a portion of the enhanced rent payment shall be used to purchase additional TIC interests in the home from the impact investor’s holdings in the SPE; and g) upon purchase of TIC interests equal to the entirety of the impact investors holding
  • the ability to manage asset tokens can provide the ability to merge occupant and impact investor holdings which can be the cornerstone to homogenizing the overall investment opportunity sufficient to keep additional risk based pricing at bay. Further, the ability to reduce costs through smart contract automation can help provide a benefit to the occupant.
  • FIGS. 14-21 A illustrate other example aspects of the disclosure.
  • FIG. 5 Various embodiments of the present disclosure are described in terms of the example computer system of FIG. 5. After reading this description, it will become apparent to a person skilled in the relevant art how to implement the present disclosure using other computer systems and/or computer architectures.
  • the present disclosure can be implemented on a computer system or on a mobile application.
  • the present disclosure can be implemented using blockchain or not using blockchain.
  • operations may be described as a sequential process, some of the operations may in fact be performed in parallel, concurrently, and/or in a distributed environment, and with program code stored locally or remotely for access by single or multi-processor machines.
  • the order of operations may be rearranged without departing from the spirit of the disclosed subject matter.
  • Processor device may be a special purpose, or a general-purpose processor device specifically configured to perform the functions discussed herein.
  • the processor device may be connected to a communications infrastructure, such as a bus, message queue, network, multi-core message-passing scheme, etc.
  • the network may be any network suitable for performing the functions as disclosed herein and may include a local area network (LAN), a wide area network (WAN), a wireless network (e.g., WiFi), a mobile communication network, a satellite network, the Internet, fiber optic, coaxial cable, infrared, radio frequency (RF), or any combination thereof.
  • LAN local area network
  • WAN wide area network
  • WiFi wireless network
  • mobile communication network e.g., a mobile communication network
  • satellite network the Internet, fiber optic, coaxial cable, infrared, radio frequency (RF), or any combination thereof.
  • RF radio frequency
  • the computer system may also include a main memory (e.g., random access memory, read-only memory, etc.), and may also include a secondary memory.
  • the secondary memory may include the hard disk drive and a removable storage drive, such as a floppy disk drive, a magnetic tape drive, an optical disk drive, a flash memory, etc.
  • the removable storage drive may read from and/or write to the removable storage unit in a well-known manner.
  • the removable storage unit may include a removable storage media that may be read by and written to by the removable storage drive.
  • the removable storage drive is a floppy disk drive or universal serial bus port
  • the removable storage unit may be a floppy disk or portable flash drive, respectively.
  • the removable storage unit may be non-transitory computer readable recording media.
  • the secondary memory may include alternative means for allowing computer programs or other instructions to be loaded into the computer system, for example, the removable storage unit and an interface.
  • Examples of such means may include a program cartridge and cartridge interface (e.g., as found in video game systems), a removable memory chip (e.g., EEPROM, PROM, etc.) and associated socket, and other removable storage units and interfaces as will be apparent to persons having skill in the relevant art.
  • Data stored in the computer system may be stored on any type of suitable computer readable media, such as optical storage (e.g., a compact disc, digital versatile disc, Blu-ray disc, etc.) or magnetic tape storage (e.g., a hard disk drive).
  • the data may be configured in any type of suitable database configuration, such as a relational database, a structured query language (SQL) database, a distributed database, an object database, etc. Suitable configurations and storage types will be apparent to persons having skill in the relevant art.
  • the computer system may also include a communications interface.
  • the communications interface may be configured to allow software and data to be transferred between the computer system and external devices.
  • Exemplary communications interfaces may include a modem, a network interface (e.g., an Ethernet card), a communications port, a PCMCIA slot and card, etc.
  • Software and data transferred via the communications interface may be in the form of signals, which may be electronic, electromagnetic, optical, or other signals as will be apparent to persons having skill in the relevant art.
  • the signals may travel via a communications path, which may be configured to carry the signals and may be implemented using wire, cable, fiber optics, a phone line, a cellular phone link, a radio frequency link, etc.
  • the computer system may further include a display interface.
  • the display interface may be configured to allow data to be transferred between the computer system and external display.
  • Exemplary display interfaces may include high-definition multimedia interface (HDMI), digital visual interface (DVI), video graphics array (VGA), etc.
  • the display may be any suitable type of display for displaying data transmitted via the display interface of the computer system, including a cathode ray tube (CRT) display, liquid crystal display (LCD), light-emitting diode (LED) display, capacitive touch display, thin-film transistor (TFT) display, etc.
  • CTR cathode ray tube
  • LCD liquid crystal display
  • LED light-emitting diode
  • TFT thin-film transistor
  • Computer program medium and computer usable medium may refer to memories, such as the main memory and secondary memory, which may be memory semiconductors (e.g., DRAMs, etc.). These computer program products may be means for providing software to the computer system.
  • Computer programs e.g., computer control logic
  • Such computer programs may enable computer system to implement the present methods as discussed herein.
  • the computer programs when executed, may enable processor device to implement the methods, as discussed herein. Accordingly, such computer programs may represent controllers of the computer system.
  • the software may be stored in a computer program product and loaded into the computer system using the removable storage drive, interface, and hard disk drive, or communications interface.
  • the processor device may comprise one or more modules or engines configured to perform the functions of the computer system.
  • Each of the modules or engines may be implemented using hardware and, in some instances, may also utilize software, such as corresponding to program code and/or programs stored in the main memory or secondary memory.
  • program code may be compiled by the processor device (e.g., by a compiling module or engine) prior to execution by the hardware of the computer system.
  • the program code may be source code written in a programming language that is translated into a lower level language, such as assembly language or machine code, for execution by the processor device and/or any additional hardware components of the computer system.
  • the process of compiling may include the use of lexical analysis, preprocessing, parsing, semantic analysis, syntax-directed translation, code generation, code optimization, and any other techniques that may be suitable for translation of program code into a lower level language suitable for controlling the computer system to perform the functions disclosed herein. It will be apparent to persons having skill in the relevant art that such processes result in the computer system being a specially configured computer system uniquely programmed to perform the functions discussed above.

Landscapes

  • Business, Economics & Management (AREA)
  • Engineering & Computer Science (AREA)
  • Accounting & Taxation (AREA)
  • Finance (AREA)
  • Development Economics (AREA)
  • General Physics & Mathematics (AREA)
  • Economics (AREA)
  • Theoretical Computer Science (AREA)
  • General Business, Economics & Management (AREA)
  • Physics & Mathematics (AREA)
  • Strategic Management (AREA)
  • Marketing (AREA)
  • Computer Security & Cryptography (AREA)
  • Technology Law (AREA)
  • Tourism & Hospitality (AREA)
  • Computer Networks & Wireless Communication (AREA)
  • Human Resources & Organizations (AREA)
  • Signal Processing (AREA)
  • Computer Hardware Design (AREA)
  • Computing Systems (AREA)
  • General Engineering & Computer Science (AREA)
  • Entrepreneurship & Innovation (AREA)
  • Game Theory and Decision Science (AREA)
  • Operations Research (AREA)
  • Health & Medical Sciences (AREA)
  • General Health & Medical Sciences (AREA)
  • Primary Health Care (AREA)
  • Financial Or Insurance-Related Operations Such As Payment And Settlement (AREA)

Abstract

L'invention concerne des procédés et des systèmes de transfert d'informations, consistant à : transmettre, au moyen d'un premier dispositif informatique du premier système informatique, une première demande de fonction de réseau à un réseau décentralisé, la première demande de fonction de réseau comprenant des premières informations ; et transmettre, au moyen d'un second dispositif informatique du second système informatique, une seconde demande de fonction de réseau au réseau décentralisé, la seconde demande de fonction de réseau comprenant des secondes informations.
EP20899037.4A 2019-12-13 2020-12-14 Procédés et systèmes de transmission d'informations Pending EP4074012A4 (fr)

Applications Claiming Priority (2)

Application Number Priority Date Filing Date Title
US201962948136P 2019-12-13 2019-12-13
PCT/US2020/064934 WO2021119618A1 (fr) 2019-12-13 2020-12-14 Procédés et systèmes de transmission d'informations

Publications (2)

Publication Number Publication Date
EP4074012A1 true EP4074012A1 (fr) 2022-10-19
EP4074012A4 EP4074012A4 (fr) 2023-12-13

Family

ID=83272459

Family Applications (1)

Application Number Title Priority Date Filing Date
EP20899037.4A Pending EP4074012A4 (fr) 2019-12-13 2020-12-14 Procédés et systèmes de transmission d'informations

Country Status (2)

Country Link
EP (1) EP4074012A4 (fr)
CN (1) CN115152197A (fr)

Family Cites Families (3)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US20180322597A1 (en) * 2016-08-31 2018-11-08 Robert Sher Decentralized cryptographic real estate transaction assistance system and method
US10373129B1 (en) * 2018-03-05 2019-08-06 Winklevoss Ip, Llc System, method and program product for generating and utilizing stable value digital assets
US10438290B1 (en) * 2018-03-05 2019-10-08 Winklevoss Ip, Llc System, method and program product for generating and utilizing stable value digital assets

Also Published As

Publication number Publication date
CN115152197A (zh) 2022-10-04
EP4074012A4 (fr) 2023-12-13

Similar Documents

Publication Publication Date Title
US11244413B2 (en) Method and system for equity sharing of a real estate property
US11582324B2 (en) Methods and systems for transmitting information
Ariff et al. Islamic banking in Malaysia: Unchartered waters
Hesse et al. Trends and challenges in Islamic finance
US8219471B2 (en) Real estate appreciation contract
US8271307B2 (en) Method, software program, and system for structuring risk in a financial transaction
US20090030853A1 (en) System and a method of profiting or generating income from the built-in equity in real estate assets or any other form of illiquid asset
US20080215500A1 (en) System and a method of profiting or generating income from the built-in equity in real estate assets or any other form of illiquid asset
US20080065532A1 (en) Revenue-producing bank card system & method providing the functionality & protection of trust-connected banking
JP5065033B2 (ja) 資金融通の申請を受理又は棄却する判定を支援するデータ処理システム
Jobst Derivatives in Islamic finance
US20140095372A1 (en) Systems and methods for residential real estate risk transference via asset-backed index swap and/or investment contract
US20200394714A1 (en) Method and apparatus for real time, dynamic management of real estate finance, services, and reporting
US20220067827A1 (en) Reporting template for determining credit rating
US20080109333A1 (en) System and method for premium finance management
US20220358576A1 (en) Methods and systems for transmitting information
US20240146678A1 (en) Methods and systems for transmitting information
EP4074012A1 (fr) Procédés et systèmes de transmission d'informations
WO2023244508A1 (fr) Procédés et systèmes de transmission d'informations
EP4352912A1 (fr) Procédés et systèmes de transmission d'informations
WO2024102396A1 (fr) Procédés et systèmes de transmission d'informations
Petosa et al. Manufactured home community financing handbook
WO2008049126A2 (fr) Système et procédé pour tirer profit ou générer un revenu de capitaux intégrés dans des biens immobiliers, ou de toute autre forme de capitaux non liquides
AU2005100868A4 (en) Data Processing System and Method with Commission Calculation
AU2005222542A1 (en) Data Processing System and Method with Financial Feedback

Legal Events

Date Code Title Description
STAA Information on the status of an ep patent application or granted ep patent

Free format text: STATUS: THE INTERNATIONAL PUBLICATION HAS BEEN MADE

PUAI Public reference made under article 153(3) epc to a published international application that has entered the european phase

Free format text: ORIGINAL CODE: 0009012

STAA Information on the status of an ep patent application or granted ep patent

Free format text: STATUS: REQUEST FOR EXAMINATION WAS MADE

17P Request for examination filed

Effective date: 20220613

AK Designated contracting states

Kind code of ref document: A1

Designated state(s): AL AT BE BG CH CY CZ DE DK EE ES FI FR GB GR HR HU IE IS IT LI LT LU LV MC MK MT NL NO PL PT RO RS SE SI SK SM TR

DAV Request for validation of the european patent (deleted)
DAX Request for extension of the european patent (deleted)
REG Reference to a national code

Ref country code: DE

Ref legal event code: R079

Free format text: PREVIOUS MAIN CLASS: H04L0029080000

Ipc: H04L0009400000

A4 Supplementary search report drawn up and despatched

Effective date: 20231109

RIC1 Information provided on ipc code assigned before grant

Ipc: G06Q 40/06 20120101ALI20231103BHEP

Ipc: H04L 9/00 20220101ALI20231103BHEP

Ipc: G06Q 50/16 20120101ALI20231103BHEP

Ipc: H04L 9/40 20220101AFI20231103BHEP