Uniform system for verifying and tracking the title of articles or objects of value

Abstract

A uniform, centralized system for converting all existing systems into one unique, universal system which allows for tracking those titles for articles objects of value, such as motor vehicles, boats, land, antiques insurance files, etc., in a congruent and continual manner. The system provides a centralized computer data base(s) operating in a “client-server” computer environment for use in creating a title history file, and for assigning a singular registration number and identification number from the VIN (or other) identifying number with those numbers being coded, and creating a coded title and registration number and for storing relevant data on the item. The centralized data base is connected to various authorized agents such as insurance agents and car dealers, and to governmental agents such as department of motor vehicles and tax collecting entities. In this way, all relevant data on an item can now be is maintained on a centralized system which is accessible to all who need the information.

Description

CROSS-REFERENCE TO RELATED APPLICATION[0001]This is a reissue application of U.S. Pat. No. 6,076,064, issued Jun. 13, 2000, which matured into a patent from U.S. Ser. No. 09 / 035,275, filed Mar. 9, 1998, which is a continuation-in-part application of Ser.Ser. No. 08 / 653,583, filed May 24, 1996, now abandoned, which is a continuation application of Ser.U.S. Ser. No. 08 / 103,917, filed Aug. 9, 1993, now U.S. Pat. No. 5,521,815, <?delete-start id="DEL-S-00003" date="20090331" ?>which is<?delete-end id="DEL-S-00003" ?> <?insert-start id="INS-S-00005" date="20090331" ?>issued May 28, 1996, which is the subject of Reissue application Ser. No. 11 / 894,023 filed Aug. 17, 2007, the 08 / 103,917 application being <?insert-end id="INS-S-00005" ?>a Continuation-In-partcontinuation-in-part <?insert-end id="INS-S-00006" ?>application of U.S. Ser.Ser. No. 07 / 830,078, filed Jan. 31, 1992, now abandoned, and the contents all of which are incorporated herein by reference ...

AI Technical Summary

Benefits of technology

[0052]The computerized central data base is connected by computer modem, RF device and / or other communication devices to various parties involved in the article so that the title may be updated even when no exchange is involved. For example, where the article is insured, as most articles of value are, the insurance agent has access to the data base and updates the title to reflect any damage and subsequent repairs to the articles. Thus, whenever a buyer purchases an item he can simply look at the title and learn the complete history of the article. Furthermore, all insurance companies are able to easily share central information on particular vehicles or items. This is particularly useful in automobile transactions where severely damaged and / or totaled vehicles are often repaired and subsequently sold as if they were in “good condition” subsequently.

Problems solved by technology

Further, there is no current universal system or means for universally centralizing all records to ensure that all information is up to date and accurate and that may be accessed by various, unrelated parties at a point of sale in a “client-server” atmosphere.

With fraudulent titles so easily obtainable, it is difficult, if not impossible, to find an insurance company willing to issue a title insurance policy.

Thus, the purchaser usually bears all the risk of loss.

A further problem with the existing titles is that even if they are accurate, they do not contain enough information for the prospective buyer, and are not of a congruent or continual nature.

Although extensive records are maintained by insurance companies with respect to damage to vehicles, thefts, major repairs, and salvage value, there is no universal system by which records are systemized and centralized within a data base that stores, converts and classifies all of this information, and there is currently no system for incorporating that information in a congruent and continual manner on the title.

None of the current systems are inter-connected and therefore the system lends itself to redundancy, fraud, inaccuracy and confusion.

There is no current system which integrates the information maintained separately by each of those parties in a universal, continual and congruent manner.

A further problem is that there exists no centralized system which can be accessed by everyone.

This creates serious problems (if not impossible) to maintain all disparate databases with continual and congruent information.

The current system(s) becomes even more complicated as requirements vary from jurisdiction to jurisdiction.

Some states, such as California and Texas issue “permanent” license plates assigned to a particular vehicle, but in fact they have no relation to the vehicle itself and can easily be lost or stolen with no current methods of tracking that license plate outside of the current owner.

Many states use these vanity and environmental plates to raise-additional revenue, thereby confusing an already difficult system.

A further problem with the existing systems is the redundancy and cost associated with having various different entities maintaining separate data bases and methods of tracking, each having its own room for error.

Therefore, these errors compound themselves dramatically depending on the type of error and / or omission and how many databases rely on that information in its “correct” form.

One of the problems associated with this system is that it relies on a comparison of records kept by others.

It does not correct any discrepancies in the titles nor does it provide any means for eliminating the errors when the data is originally input into the various data base.

Further-more, it requires that data be kept by various, independent entities, and then redundantly researched time and time again (even for that same vehicle) because that vehicle may change jurisdictions and / or owners many times in its life-cycle.

Further, it will be readily apparent that 1000 vehicles can be reviewed “contextually” with ease, but 200 million vehicles become much more difficult.

In cases where titles are not currently issued, and the articles are not marked with a serial number, such as antiques or artwork, the existing system provides no protection to the buyer.

No centralized system exists to maintain records on such items that can be used to verify with simplicity the authenticity and ownership of the article.

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