U.S. patent application number 17/683177 was filed with the patent office on 2022-06-16 for system and method for document transformation and compliance.
The applicant listed for this patent is SIDE, INC.. Invention is credited to Adriano Castro, Christopher Dzoba, Guy Gal, Jeffrey Judkins, Zachary Karrasch, Elizabeth Paris, Prescott Prue, Hilary Saunders, Stephen Saunders, Mark J. Stefik, Edward Wu.
Application Number | 20220188507 17/683177 |
Document ID | / |
Family ID | |
Filed Date | 2022-06-16 |
United States Patent
Application |
20220188507 |
Kind Code |
A1 |
Wu; Edward ; et al. |
June 16, 2022 |
System And Method For Document Transformation And Compliance
Abstract
A system and method for document transformation and compliance
is provided. A set of documents for a transfer of real property is
accessed by a user. Each document includes one or more data fields
each associated with a data field identifier. A data value is
received from the user. One of the data fields in one of the
documents is identified as associated with the received data value
via the data field identifier for that data field. The associated
data field is determined to be already populated with a different
data value. The different data value is replaced with the received
data value. Other data fields associated with a same data field
identifier as the data field identifier of the associated data
field are identified. The other data fields are populated with the
received data value. Compliance checking of the documents is
performed.
Inventors: |
Wu; Edward; (San Mateo,
CA) ; Gal; Guy; (San Francisco, CA) ;
Saunders; Hilary; (El Granada, CA) ; Saunders;
Stephen; (El Granada, CA) ; Dzoba; Christopher;
(San Francisco, CA) ; Prue; Prescott; (San
Fancisco, CA) ; Karrasch; Zachary; (San Francisco,
CA) ; Judkins; Jeffrey; (Richmond, CA) ;
Paris; Elizabeth; (San Francisco, CA) ; Castro;
Adriano; (San Francisco, CA) ; Stefik; Mark J.;
(Portola Valley, CA) |
|
Applicant: |
Name |
City |
State |
Country |
Type |
SIDE, INC. |
San Francisco |
CA |
US |
|
|
Appl. No.: |
17/683177 |
Filed: |
February 28, 2022 |
Related U.S. Patent Documents
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Application
Number |
Filing Date |
Patent Number |
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16560964 |
Sep 4, 2019 |
11263395 |
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17683177 |
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62728051 |
Sep 6, 2018 |
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International
Class: |
G06F 40/186 20060101
G06F040/186; G06Q 50/16 20060101 G06Q050/16; G06F 40/174 20060101
G06F040/174; G06V 30/418 20060101 G06V030/418 |
Claims
1. A system for document transformation and compliance, comprising:
a database to store documents relating to a transfer of real
property, each document comprising a plurality of data fields each
associated with a data field identifier, wherein the data field
identifiers for the same data fields in different documents are the
same; a server comprising a central processing unit, memory, an
input port to receive the documents and an output port, wherein the
central processing unit is configured to: access a set of the
documents; receive a data value from a user; identify one of the
data fields in one of the documents in the set associated with the
received data value via the data field identifier for that data
field; determine that the associated data field is already
populated with a different data value; replace the different data
value with the received data value in the data field of the
document; identify other data fields associated with a same data
field identifier as the data field identifier of the associated
data field; populate the other data fields with the received data
value; and perform compliance checking of the documents.
2. A system according to claim 1, wherein the central processing
unit maintains a log of changes to the data fields.
3. A system according to claim 2, wherein the log comprises one or
more of a change date, time of change, and confirmation of change
acknowledgement.
4. A system according to claim 1, wherein the central processing
unit identifies an error in at least one of the documents.
5. A system according to claim 4, wherein the central processing
unit flags the error and generates a notification of the error.
6. A system according to claim 5, wherein the central processing
unit receives a new data value from the user and replaces the error
with the new data value.
7. A system according to claim 1, wherein each data field is
associated with a data field definition comprising details
regarding data values to populate one such data field.
8. A system according to claim 1, wherein the central processing
unit assigns different access to the documents to different
users.
9. A system according to claim 1, wherein the central processing
unit runs compliance logic on the documents during compliance
checking.
10. A system according to claim 9, wherein the compliance logic
comprises one or more of correctness, completeness c, consistency,
and compliance with regulatory requirements.
11. A method for document transformation and compliance, further
comprising: accessing a set of documents for a transfer of real
property that is associated with a transaction identification,
wherein each document comprises one or more data fields each
associated with a data field identifier; receiving a data value
from a user; identifying one of the data fields in one of the
documents associated with the received data value via the data
field identifier for that data field; determining that the
associated data field is already populated with a different data
value; replacing the different data value with the received data
value in the data field of the document; identifying other data
fields associated with a same data field identifier as the data
field identifier of the associated data field; populating the other
data fields with the received data value; and performing compliance
checking of the documents.
12. A method according to claim 1, further comprising: maintaining
a log of changes to the data fields.
13. A method according to claim 12, wherein the log comprises one
or more of a change date, time of change, and confirmation of
change acknowledgement.
14. A method according to claim 11, further comprising: identifying
an error in at least one of the documents.
15. A method according to claim 14, further comprising: flagging
the error; and generating a notification of the error.
16. A method according to claim 15, further comprising: receiving a
new data value from the user; and replacing the error with the new
data value.
17. A method according to claim 11, wherein each data field is
associated with a data field definition comprising details
regarding data values to populate one such data field.
18. A method according to claim 11, further comprising: assigning
different access to the documents to different users.
19. A method according to claim 11, further comprising: running
compliance logic on the documents during compliance checking.
20. A method according to claim 19, wherein the compliance logic
comprises one or more of correctness, completeness c, consistency,
and compliance with regulatory requirements.
Description
FIELD
[0001] This application relates in general to identifying and
populating documents, and in particular to a system and method for
document grouping and transformation.
BACKGROUND
[0002] Real estate purchases and sales are the largest financial
transactions and investments for many people, especially with the
increasing cost of real estate. Due to the cost and time required
for a real estate transaction, many individuals are infrequently
involved in such transactions and may not be familiar with
regulations governing the transactions and issues that can arise.
Additionally, real estate transactions are complex and involve many
details and issues. Accordingly, many purchasers and buyers choose
to hire a knowledgeable advocate to assist with the transaction,
including a real estate agent or broker. Real estate agents and
brokers can provide a party to such transaction with useful
information, including options and risks regarding the transaction.
Further, agents and brokers have legal and financial
responsibilities to ensure that a transaction is successfully
performed and that the transaction complies with all applicable
guidelines and regulations.
[0003] Over the years, the amount of documentation involved in
supporting real estate transactions and financing of such
transactions has grown. The required documents have become
increasingly numerous and complex, and assuring compliance has
become more difficult. The documentation requirements generally
differ from one community to another, so agents and brokers must
pay attention to the differences in local regulations. They must
also keep up with changes in the regulations for all of the
relevant governing bodies for every transaction. Also, governing
bodies are overlapping and any transaction occurring within the
jurisdiction of both governing bodies, must comply with the
regulations of the governing bodies. For example, there are often
separate regulations for a neighborhood, city, county and state in
which a piece of property is located.
[0004] Ensuring compliance with all guidelines and regulations can
be time consuming and difficult. However, failure to comply with
the regulations can potentially invalidate real estate transactions
and can expose real estate brokers and agents to litigation and
possible liability for failed transactions.
[0005] Currently, most real estate transactions are preformed
manually, requiring an individual, such as an agent or broker, to
identify, collect, and populate documents required to complete a
real estate transaction. The agent or broker must also ensure that
the documents contain any updates and are correctly populated. Such
manual tasks can be time consuming due to a number of documents
required and the different requirements established by differing
regulations between governing bodies. Additionally, the manual
process for real estate transactions is prone to several sources of
compliance errors as real estate agents and brokers prepare
document packages for real estate transactions. Such errors and
other failures to comply with the required regulations can
invalidate a transaction and can expose agents and brokers to
costly litigation, as well as stain a reputation of the agent or
broker. Challenges associated the manual process for real estate
transactions that make manual compliance difficult and error prone
include large numbers of documents, different regulations and rules
for different locations, and new information that becomes available
during the transaction, which must be identified and included in
the documents.
[0006] However, automation of real estate transactions has been
attempted. For example, U.S. Pat. No. 9,330,375 covers loading
virtual forms with selected properties. The virtual forms are
electronic documents designed to have the appearance of standard
real estate contract forms and act as placeholder documents into
which data from a warehouse is inserted. However, such data
insertion fails to include checking of the data to ensure
compliance, correctness, completeness, and consistency of the data
being inserted.
[0007] U.S. Pat. No. 8,423,469 covers a simplified loan process for
a real estate transaction that is provided for the buyer based on
unified communication between the buyer, relator, and mortgage
originator and fails to cover transforming document to ensure
complete, correct, consistent, and compliant data population.
[0008] U.S. Pat. No. 8,442906 covers automating the performance and
processing of tasks associated with a home sale or mortgage
origination by making available pricing information matching real
estate pricing criteria and generated loan information to a buyer.
However, such automation of task processing fails to consider
methods for ensuring data associated with the home sale or mortgage
origination is complete, correct, consistent, and compliant.
[0009] U.S. Pat. No. 7,640,204 covers a digital marketplace in
which real estate members can interact and facilitate transactions
by exchanging accurate and standardized information. The
marketplace can include survey and transaction tools, as well as
tour scheduling. Thus, the marketplace fails to include document
transformation via population and data checking.
[0010] U.S. Pat. No. 6,684,196 covers facilitating real property
transactions between a buyer and seller by providing real estate
services to facilitate a negotiation related to the transaction,
rather than populating documents and checking for data
completeness, consistency, correctness, and compliance.
[0011] U.S. Pat. No. 6,321,202 covers managing real estate
transactions, including accessing vendor data based upon a phase of
a real estate transaction and providing the vendor data to a
contact upon the occurrence of the real estate transaction phase.
Thus, the communication of data focuses on building relationships
in real estate transactions, rather than document transformation
based on a set of rules and checking data of the documents.
[0012] Further, U.S. Pat. No. 9,672,524 covers managing data
related to a corporate entity to enhance retrieval of the documents
database using tags. However, the retrieval enhancement fails to
consider or include data population and checking.
[0013] Therefore, a need remains for improving processing of a
computer to be able to automatically transform documents by
changing a form of the documents based on received data, and
identify errors and ensure compliance of data between different
documents by checking for document completeness, consistency,
correctness, and confirmation of data populating the documents.
SUMMARY
[0014] Real estate transactions can be extremely complex and
generally require many documents for review and execution to
formalize the transaction. Currently, such transactions are
performed manually via a real estate agent or broker that fills out
each document. However, manual processing of the documents often
results in inconsistencies of data across the documents, incorrect
data values based on a failure to identify and enter updated
values, data values that are not compliance with local regulations,
and other errors. Ensuring the correctness of the documents is
extremely important because errors in the documents may invalidate
the associated real estate transaction. Representations of
documents that enable both human usability and automation by
allowing data entry and automated checking of the data helps ensure
data completeness, consistency, compliance, and correctness of the
documents.
[0015] An embodiment provides a system and method for document
transformation and compliance. A set of documents for a transfer of
real property is accessed by a user. Each document includes one or
more data fields each associated with a data field identifier. A
data value is received from the user. One of the data fields in one
of the documents is identified as associated with the received data
value via the data field identifier for that data field. The
associated data field is determined to be already populated with a
different data value. The different data value is replaced with the
received data value. Other data fields associated with a same data
field identifier as the data field identifier of the associated
data field are identified. The other data fields are populated with
the received data value. Compliance checking of the documents is
performed.
[0016] Still other embodiments of the present invention will become
readily apparent to those skilled in the art from the following
detailed description, wherein is described embodiments of the
invention by way of illustrating the best mode contemplated for
carrying out the invention. As will be realized, the invention is
capable of other and different embodiments and its several details
are capable of modifications in various obvious respects, all
without departing from the spirit and the scope of the present
invention. Accordingly, the drawings and detailed description are
to be regarded as illustrative in nature and not as
restrictive.
BRIEF DESCRIPTION OF THE DRAWINGS
[0017] FIG. 1 is a block diagram showing a system for document
grouping and transformation, in accordance with one embodiment.
[0018] FIG. 2 is a block diagram showing, by way of example, the
compliance system of FIG. 1.
[0019] FIG. 3 is a functional block diagram showing, by way of
example, the compliance information management system of FIG.
2.
[0020] FIG. 4 is a screenshot showing, by way of example, an
interactive form for form element identifiers.
[0021] FIG. 5 is a diagram of an interactive form showing, by way
of example, a document template with defined form elements.
[0022] FIG. 6 is a diagram of an interactive form showing, by way
of example, information for generating a data field identifier
associated with a data field in a document template.
[0023] FIG. 7 is a functional block diagram showing a method for
document transformation and compliance, in accordance with one
embodiment.
[0024] FIG. 8 is a diagram of a webpage showing, by way of example,
a transaction cover sheet with data fields for obtaining data
values.
[0025] FIG. 9 is a block diagram showing, by way of example, data
models.
[0026] FIG. 10 is a diagram showing, by way of example, a document
template library.
[0027] FIG. 11 is a diagram showing by way of example, an
interactive form for identifying document templates for a
transaction.
[0028] FIG. 12 is a diagram showing, by way of example, an
interactive form displaying a document package.
[0029] FIG. 13A is a diagram of an interactive form showing, by way
of example, a portion of the cover sheet of FIG. 8.
[0030] FIG. 13B is a diagram of an interactive form showing, by way
of example, the portion of the cover sheet of FIG. 13A with a
different data value.
[0031] FIG. 14 is a diagram of a document template with data fields
for property price.
DETAILED DESCRIPTION
Glossary
[0032] Document package--a document package refers to a collection
of documents prepared for, signed, and executed by parties of a
real estate transaction. The package can include documents for
listings or offers, including documents about real estate services
performed in support of transactions, such as proofs of
availability of funds, contracts with real estate agents and
brokers, disclosures, inspection reports, and marketing agreements,
as well as other types of documents. Different subsets of a
document package may be provided to different parties of a
transaction. For example, different documents are typically
provided for buyers and sellers.
[0033] Completeness--testing a document package for completeness
refers to automated testing to ensure that all of the required
documents are included in the package and that all required fields
in the documents are filled out. When specific information is
provided as a value for a field, a trigger can add additional
fields to the document beyond the initial fields displayed.
Additionally, received data may also trigger one or more additional
documents to be added to the document package.
[0034] Consistency--testing documents for consistency refers to
automated testing to ensure that values of related fields in the
documents are filled out in a semantically-consistent way. For
example, every "initials" field for the same person should contain
the same initials. Additionally, fields that have different
representations for the same information (e.g. "one thousand
dollars" versus $1,000.00) should have the same or compatible
meanings. All related fields should convey consistent meanings.
[0035] Correctness--testing documents for correctness refers to
automated verification that data values and combinations of related
fields have been verified by one or more authoritative sources. For
examples, entries specified for street address, City, County,
State, and Zip Code correspond to a correct combination recorded by
an authoritative entity. The specified street address is within the
specified city, the specified city is within the specified county,
the specified county is within the specified state, and the zip
code corresponds properly to the combination, and the property
exists. Another example is that information about a "parcel number"
for a property paired with an address corresponds to county land
records. Another example is a bank statement vouching for the
availability of funds. There can be different requirements on what
it means for a source to be "authoritative," including having a
well-known identity, using secure and digitally-signed
communications, meeting government-approved requirements, backing
by financial guarantees, and meeting certification requirements of
legal, real estate, and banking institutions.
[0036] Compliance--testing documents for compliance refers to
automated testing to ensure that the data values provided in the
documents and the transactions proposed comply with all legal
requirements. For a successful property transaction, no required
documents can be omitted and the document versions must meet
current requirements. In real estate transactions, there are often
multiple governing organizations, including federal, state, county,
city, and sometimes local organizations such as property owner
associations. State and federal laws require that purchasers of
property be informed of certain conditions of the property for
consumer protection. Further, governing organizations may require
disclosure of the nature, limitations, and conflicts regarding the
responsibilities of the real estate agents. Compliance requires
that the document package be complete, consistent, and correct.
[0037] Confirmation--brokers and agents are obligated to inform
their clients about important information in the transactions.
Common practice for compliance for avoiding potential legal
liability is to provide explicit places in the documents for dated
confirmation signatures on documents and for particular data
fields. The steps involved include assuring that the documents
include proper places for signatures or initials and dates in the
documents presented to clients and others and also checking that a
document package is thoroughly checked that all required signatures
or initials are properly filled out and dated by clients.
[0038] Active documents--refer to programmatically-supported
information that can be presented in a human-readable and legally
appropriate form ("documents") in a computational medium, with a
computational substrate ("active document) that enables people to
fill in or select information and to interact with it, that
efficiently supports information processing of the information such
as checking it for completeness, consistency, correctness,
compliance and confirmation. In this way, active documents support
understanding and processing of information by people and active
computational agents intended to assure that a real estate
transaction is compliant with requirements.
[0039] Transaction identifier--a string of numbers and/or letters
that uniquely identify a specific transaction of property.
[0040] Form element--corresponds to a region on a form that takes a
value from a data field.
[0041] Form element identifier--a string of numbers and/or letters
that are unique to a particular form element in a document.
[0042] Form element name--a human-readable name used to describe
and identify a particular form element in a document.
[0043] Data field--location for storage of data, such as in a
database.
[0044] Data field definition--human-readable information describing
an associated data field in the database to which the data field
definition is assigned and can include data field identifiers.
[0045] Data field identifier--a string of numbers and/or letters
that uniquely identify a specific data field in the database.
[0046] Data field values--data values that populate a data
field.
[0047] Bureau of Real Estate (BRE)--is a state level agency that
makes rules for real estate transactions.
[0048] Conveyance--is the act of transferring an ownership interest
in real property from one party to another. Conveyance also refers
to the written instrument, such as a deed or lease that transfers
legal title of a property from the seller to a buyer.
[0049] Escrow--refers to money held by a third-party on behalf of
transacting parties. The duty of a title and/or escrow company is
to act as a neutral third party. The escrow company holds all
documents and money until all of the terms and conditions in the
contract have been met and the property is in title insurable
condition. The transfer can then be made from the Seller to the
Purchaser. Title companies do not work for the Seller or for the
Purchaser. They are employed by both parties and act only upon
mutually agreed upon written instructions. In Arizona, a title
company, or an escrow company, rather than an attorney, serves this
purpose.
[0050] Title--is a bundle of rights in a piece of real estate in
which a party may own either a legal interest or equitable
interest. The rights in the bundle may be separated and held by
different parties. It may also refer to a formal document, such as
a deed, that serves as evidence of ownership. Conveyance of the
document may be required in order to transfer ownership in the
property to another person.
[0051] Title insurance--is a form of indemnity insurance which
insures against financial loss from defects in title to real
property and from the invalidity or unenforceability of mortgage
loans. The vast majority of title insurance policies are written on
land within the United States. Unlike some land registration
systems in countries outside the US, the US states' recorder of
deeds generally does not guarantee indefeasible title to those
recorded titles. Title insurance will defend against a lawsuit
attacking the title or reimburse the insured for the actual
monetary loss incurred up to the dollar amount of insurance
provided by the policy.
[0052] Listing Agent--represents the seller in a real estate
transaction.
[0053] Buying Agent (also known as Selling Agent)--represents the
buyer in a real estate transaction.
Compliance
[0054] Real estate transactions are complicated and time consuming.
Currently, such transactions are performed manually by a real
estate agent or broker for a stakeholder, which is commonly the
buyer or seller of a property that is the focus of the transaction.
The manual process includes identifying and collecting required
documents for all governing jurisdictions, identifying and applying
all relevant and current jurisdictional regulations to the
documents, populating the document with required data, checking
that the populated data is consistent, accurate and compliant with
the regulations, revising the documents when information changes,
incorporating new information arising from negotiations between the
parties of the transaction, adding new documents when new
requirements are enacted, providing the completed documents to the
other party of the transaction, and coordinating signatures of the
documents. However, due to the increasing number of documents and
constantly changing regulations, there is a substantial risk of
human error, which can, at times, invalidate the transaction.
Further, even if the documents are completed electronically,
computers are currently unable to verify or ensure compliance of
the populated data based merely on the electronic preparation of
the transaction documents.
[0055] Automatic document transformation and compliance can prevent
error and reduce an amount of time required to identify and
complete the required documents. However, automating such document
transformation, especially for real estate transactions, is
challenging and many factors must be considered to ensure that
automated document transformation and compliance is accurate,
quick, and reliable. The challenges include designing
representations for documents and document packages that enable
both human usability and automation. Specifically, the document
information should be presentable in natural language, able to be
printed or presented in digital media, while also ensuring that the
information is in a form practical for information processing. The
information processing can include symbolic and numeric processing
of data values entered into the documents, including determining
whether fields are populated with proper values, enabling entry of
data fields manually or automatically and comparing the data values
with reference values and constraints. To perform such steps,
information processing can require access and integration with one
or more databases, networked information exchange with trusted and
authoritative servers, and maintaining a history or log of changes
to the documents and data values. Other challenges include
integrating automated information processing with ongoing human
activities with respect to the documents, including automatically
keeping track of a status of multiple interdependent activities and
related services, coordinating activities and document changes, and
managing incremental and ongoing document and information changes,
such as ensuring compliance when information changes during a
transaction. To overcome such challenges, the automatic document
transformation system, as discussed in detail below, includes a
multi-tier system that utilizes data models for checking and
automating compliance, as well as computational agents, and
multiple networked, authenticated and cloud-based servers, which
allow a computer to perform the task of compliance. A compliance
status of documents and field values can change as information
changes during a transaction.
[0056] Compliance System Architecture and Operation
[0057] Document transformation and compliance checking reduces
errors during real estate transactions to ensure that the
transactions are successfully and timely completed. FIG. 1 is a
block diagram showing a system for document grouping and
transformation, in accordance with one embodiment. Real estate
agents 11 or brokers 12 assisting a party or stakeholder 13 to a
real estate transaction can access a compliance server 15 via an
internetwork 29, such as the Internet, to identify, prepare, and
verify documents for the transaction as a compliance system 15. The
real estate agents and clients of the real estate agents or brokers
can access, fill in, and sign documents for the transaction. In a
further embodiment, the compliance system 15 can be executed by two
or more servers.
[0058] In one embodiment, the compliance system 15 can operate via
a cloud computing environment, which allows users, such as the
agents, brokers, and parties to the transaction, to access and
utilize remotely-stored applications (not shown) of the compliance
system without requiring the users to install software or personal
data. The users can access the compliance system 15 via a computing
device, such as a computer or a mobile computing device (not
shown), including a cell phone, laptop, or tablet.
[0059] The compliance system 15 can include a compliance
information management system 16, a compliance performance system
17, a compliance outreach system 18, an input port 31 to receive
compliance rules, databases of addresses and document templates,
and an output port 32 to provide populated and checked document
packages for a transaction. The compliance information management
system 16 encodes information and logic representations for
automating compliance of the transactions. Real estate subject
matter experts 14 and information technology specialists 30, among
other individuals, are responsible for the creation and maintenance
of the information and logic used by the compliance system 15. For
example, subject matter experts 14 can curate and annotate a
library of documents 24 for real estate transactions that is stored
by a database 19 associated with the compliance system 15. The
library of documents is discussed in detail below with respect to
FIG. 10. The documents reflect different jurisdictional transaction
requirements, including federal, state, county, city, and local
compliance requirements. Meanwhile, information technology
specialists 30 can encode, check, embed, and maintain compliance
logic executed by computational agents of the compliance system
with the documents in the library and associated databases.
[0060] The information management system 16 also enables the
compliance performance system 17 to support and automate real
estate transactions. For instance, the compliance performance
system 17 records information for a transaction, selects a set of
documents for the transaction based on at least a portion of the
recorded information, and transforms documents in the set by
populating form elements of one or more of the documents processed
by the information management system 16. The real estate brokers
12, agents 11, support staff, and parties 13 can provide the
information for the transaction via a form or coversheet. Based on
the received information, the compliance performance system can
populate the documents on which automatic compliance is
performed.
[0061] During or after population, the performance system 17
performs compliance checking of the document set for consistency,
correctness, completeness, and compliance, as well as confirmation.
The compliance outreach system 18 interacts with third-party
institutions 20, 22, as authoritative sources, to access
transaction documents 28, jurisdictional regulations 27, property
records (not shown), and financial data 26 for compliance checking
with the set of populated documents. The third-party institutions
can include city or county property records, real estate boards,
financial institutions, or jurisdictional real estate regulatory
institutions, including federal, state, county, city and
neighborhoods jurisdictions. Other third-party institutions and
document types are possible.
[0062] Any errors in the documents regarding consistency,
completeness, correctness, and compliance of the data can be
identified via the performance system 17. In one embodiment, errors
are detected at the time data is entered. The error can be flagged,
making a visible note for stakeholders and preventing an erroneous
value from being accepted and propagated in the document set. The
note can suggest corrections to the data entry or prompt a user to
correct the entry at that time. In another embodiment, the errors
can be automatically corrected; however, in a further embodiment, a
notification can be transmitted to one or more of the broker,
agent, or stakeholder for correction. Any time new data is entered,
the compliance checking process can automatically occur to ensure
that no errors are present in the transaction document set. Once
the documents are complete and correct, the documents can be
provided to the other party of the transaction for review and
possibly, further revision.
[0063] The compliance information management system 16, compliance
performance system 17, and compliance outreach system 18 work in
conjunction with each other to automate document transformation and
compliance checking. FIG. 2 is a block diagram 40 showing, by way
of example, the compliance system 15 of FIG. 1. As described above,
the compliance system 15 includes the compliance information
management system 16, the compliance performance system 17, and the
compliance outreach system 18. At the level of the compliance
information management system 16, real estate subject matter
experts 14 and information technology specialists 30 provide
information and logic representations that are encoded and saved
for performing compliance checking of the populated documents for a
real estate transaction.
[0064] Documents are identified and populated at the compliance
performance system level 17 during which users, such as brokers,
agents, and stakeholders to the transaction provide data regarding
the transaction for populating at least a portion of the documents
using the information and logic representations from the
information management system 16. Once populated, compliance logic
from the information management level 16 is applied to the
documents to check for correctness, completeness, consistency, and
compliance of the data and the documents, using the information
gathered by the compliance information management system and the
compliance outreach system. Prior to or during the compliance
checking, the compliance outreach system 18 performs interactions
with third party systems to obtain additional information against
which the populated documents of the transaction documents are
checked.
[0065] Documents and Data Fields
[0066] Ensuring accurate document transformation and compliance
requires automation information and logic representations. FIG. 3
is a functional block diagram 50 showing, by way of example, the
compliance information management system 16 of FIG. 2. Real estate
subject matter experts and information technology specialists,
among other qualified individuals, enter automation information 58
and automation logic 52 via a transaction coordinator platform 51.
The automation information 58 can include field definitions 59,
field values 60, a library of document templates 61, and case
documents 62, which are human-readable forms of a current state of
transaction documents for each transaction, while the automation
logic 52 can include population logic (not shown) that performs
document population and revision, and review logic to ensure
compliance, correctness, completeness, and consistency of the
populated documents.
[0067] The document templates 61 can be obtained from
jurisdictional real estate organizations, generated by the subject
matter experts, or uploaded via the subject matter experts or a
third party, as well as from other sources. Generally, each
jurisdictional real estate organization requires a pledge to a code
of ethics and implements a standard of practice required by all
members. Many brokers and realtors belong to one or more
organizations to utilize document templates prepared, maintained,
and updated by the organizations. When new real estate regulations
are implemented or laws are enacted, federally or by state, those
real estate organizations covering the affected jurisdictions work
to revise their documents and ensure that their templates are up to
date and in compliance with the new regulations or laws.
[0068] Each of the documents in the template library 61 includes
multiple form elements for entry of transaction data, including
data field values, which are each stored in a data field, such as
in a database or spreadsheet. The data fields values are used
within a data model for checking and automating compliance, and are
accessed for populating the form elements. A real estate document
template can include form elements for party names, street address,
city, county, zip code, and sales price for the property of the
transaction. Each data field that stores a data field value is
associated with a data field definition 59, which can be
human-readable information describing that data field to which the
data field definition is assigned. The data field definition is
also associated with a data field identifier, such as a string of
numbers and letters, that uniquely identify a specific data field
in the database.
[0069] The information of the data field definition can include one
or more of a text comment describing a meaning of the field, a data
type, routines for converting a value into printable text,
computational modules for carrying out operations on a field, and a
syntax checker. For example, a data field definition for a property
address can include a data field name of "street address," a data
field identifier of "Street.Address.1," a data type of
"street-address," a description of "this is the first street
address for the property, must include a number and a street name,
and be consistent with a lot number in county records," and a
module for operations to carry out entering, printing, checking,
comparing a received data value to trigger compliance checking and
syntax checking.
[0070] The data field identifiers and names index access to
populated data values for information processing and support
specific access for automating document population and compliance
checking, including completeness, consistency, correctness,
compliance, and confirmation processing. Specifically, the syntax
checker can be used to look up a data field value for populating a
form element based on the data field identifier of the data field
definition associated with the data field and a transaction
identifier assigned to the transaction. For example, returning to
the street address example above, a property transaction, in which
the data field for street address has been populated, can have an
identifier "Trans CAL-387654-Smith-Jones-31-Dec-2018." Based on the
transaction identifier and the data field identifier, the street
address data value "1302 Broadway E" is accessed and used to
populate the data field. Data field identifiers and names for
related data fields within a single document or across different
documents are the same for different transactions. However, data
values populating the data fields are specific to a transaction and
are usually different for different transactions. Each transaction
can be associated with a data model, which can include the data
field identifiers or names for documents in a document package for
the transaction and data values that populate data fields
associated with the data field identifiers. The data models are
discussed in detail below with respect to FIG. 9.
[0071] In one embodiment, the field definitions 59 are stored in a
persistent data access system, such as a relational database or a
NOSQL database. The database is a reference source for field
definitions. However, other kinds of linked data structures for the
field definitions are possible, such as hash tables, tree-based
structures, and look-up representations and information retrieval
structures.
[0072] In a further embodiment, the field definitions 59 are
distributed and combined with a library 61 of the document
templates so that the field definitions 59 are defined and stored
in a distributed fashion across a set of document templates, rather
than in a monolithic database for all document templates. In such
embodiments, a document template is designated a reference template
and the source of the field definition. Having data represented as
explicit data fields enables controlled and specific access to the
compliance data and enables automating compliance checking and
enforcement.
[0073] To access data values and populate form elements in the
document templates, the field definitions can be associated with
the form elements, such as via a look-up table or stored with the
form elements. FIG. 4 is a diagram showing, by way of example, an
interactive form 130 for form element identifiers 135. The
interactive form 130 can be delivered via a web page or directly by
an application. The interactive form 130 includes a listing 131 of
"form elements" 135 that can be defined by a real estate expert or
information technology specialist and associated with a data field
in a document template. Each form element 135 can be represented by
a data box in a template and listed via a form element identifier
131. For each form element, the interactive form 130 can provide a
name 132 of the element and actions 133, which can be performed for
or on the form element that corresponds with the form element
identifier 131 and name 132. The actions can include printing of an
associated data value, triggering when the data value has changed,
converting the data value from a numerical value to text and vice
versa, and when a new data value has arrived. Other actions are
possible. New form elements 135 can be added using an "add form
element" button 134.
[0074] Data field definitions can be assigned to the form elements
within documents templates by a subject matter expert or real
estate professional that can work with information technology
specialists to define the data fields. FIG. 5 is a diagram of an
interactive form 140 showing, by way of example, a document
template 143 with defined form elements 144. The interactive form
140 can include a data frame 141 and a display frame 142, and is
displayed to the real estate experts and information technology
specialists for entering field definitions to the document
templates. The data frame 141 can provide tabs for metadata 141,
inputs, and experts, as well as other tabs. The meta data tab 141
provides information for defining the document template 143 and can
be populated by the real estate experts and information technology
specialists. In turn, the defined document template is provided to
the users, such as the real estate agents and clients. Under the
metadata tab 141, document information fields can be provided,
including a date that the document template was published and last
edited, the document name, the date the document template was last
revised, a type of transaction covered by the document, and a
locale represented by the document.
[0075] The display panel 142 can display one or more pages of a
document template 143. Each document template displayed can include
one or more form elements 144, at least one of which is defined for
automated population and compliance. Each defined form element 144
is associated with a data field identifier that indicates a type of
data to populate that data field. The defined form elements can be
highlighted, color coded, or otherwise marked to indicate a blank
field that must be populated by the user.
[0076] The inputs tab of the data frame can be used by real estate
experts and information technology specialists to define a form
element with a data field definition or provide information about
the field definition associated with that form element. FIG. 6 is a
diagram of an interactive form 150 showing, by way of example,
information for generating a data field identifier associated with
a form element in a document template. The interactive form 150 can
include a data frame 151 and a display frame 152. The data frame
151 can include tabs for metadata, input 153, and expert, while the
display frame 152 can display a document 154 or a portion of a
document 154 with one or more data fields 155. When the input tab
153 is selected, a form element 155 can be defined using an "add
input" button 158 after providing information about the form
element, including providing an editing string, which can be the
form element identifier 156, a page of the document displayed, and
a name 157 of the form element identifier, which in this example is
"Buyer1And2." Other information, such as tabIndex, top, type,
value, and width can be used for formatting of the data field to
populate the form element with a data value. The form element
identifier 156 provides that the name of Buyer 1 and Buyer 2, if
any, should be entered into the form element 155 for which the data
field identifier 156 is associated. Under the input tab 153,
programming information for triggering processing logic is also
included. For instance, selecting a particular box, may add
additional form elements to the form for answering by the user or
add additional documents to the document package.
[0077] A data field definition can also be included in the inputs
tab to provide information about the type of data to populate the
form element, as well as information regarding where to access the
data once received and how to process the data. Once the form
elements of a document template have been defined, the template can
be added to the document library for access and use by real estate
agents for real estate transactions.
[0078] Returning to the discussion with respect to FIG. 3, users,
such as real estate agents or clients, populate the defined form
element with data values, which can be stored in the field value
database 60. In one embodiment, the data field values 60 are stored
in a persistent data access system, such as a relational database,
NOSQL database, or any other persistent data structure that can
provide similar indexing functionality. The database 60 functions
as a reference source for the data values for all of the documents
in the package associated with the transaction. Additional
information to assist information processing can be stored together
with the data field values or in additional storage. The additional
information can include date and time the data was last changed,
provenance information about who entered the data or where the data
originated, and links to related information, such as confirmation
information that logs whether a stakeholder or user has confirmed
receipt and acknowledgement.
[0079] Automation logic utilizes the automation information, such
as the data field identifiers 59, to create and maintain accurate
information for automating compliance. The subject matter experts
and information technology specialists generate automation logic
52, which includes population logic for automating document
transformation and review logic for performing compliance checking
of the documents. The review logic can include logic for
completeness 53, consistency 54, correctness 55, compliance 56, and
confirmation 57, which is encoded by the compliance information
management system, to automate compliance of the documents for a
transaction. Completeness logic 53 ensures that all required
documents for a transaction are included in a document package and
that all required form elements for each document in the package
are populated. Consistency logic 54 ensures that related fields in
the documents are populated in a semantically-consistent way, as
further described below with respect to FIG. 14. Correctness logic
55 ensures that the data field values are verified by authoritative
sources, as described below in detail with respect to FIGS. 8, 13A,
and 13B, and compliance logic 56 ensures that the packaged
documents for a transaction comply with all regulatory
requirements. Confirmation logic 57 ensures that all of the
required signature and date fields in the packaged documents are
populated.
Generating Document Packages
[0080] Each property transaction generally requires a large amount
of documents to be completed. Automated document transformation and
compliance provides convenient, accurate and timely checking and
transformation of the documents to prevent errors. FIG. 7 is a
functional block diagram showing a method 80 for document
transformation and compliance, in accordance with one embodiment. A
library of document templates for real estate transactions is
maintained (block 81) for a plurality of jurisdictions. The
maintained documents include templates from different real estate
organizations or that are newly generated. Each document template
in the library has been processed by real estate experts and
information technology specialists to group documents for different
transactions in different jurisdictions and to define the form
elements. The documents can be grouped using a document identifier
or by storing related documents in folders; however, other methods
for grouping documents are possible.
[0081] A user accesses the document transformation and compliance
system to generate a document package for a transfer of real
property, such as a sale or purchase of the property. The user can
include a real estate agent, broker, or other types of real estate
professionals, as well as a party to the transaction. Different
documents are relevant and appropriate for different stakeholders,
which consequently have access to different documents in the
document package. For example, a listing agent can create
transaction documents shared between a property seller and the
listing agent, such as a listing agreement, as well as documents
that are provided to another party of the transaction, such as a
counteroffer, which is compliance checked and included in the
property transaction itself. Similarly, a selling agent can create
transaction documents shared between the selling agent and client,
and transaction documents, such as an offer, that are provided to
another party to the transaction. Further, different users can have
different access to the data transformation and compliance system.
For instance, real estate agents and brokers cannot sign on behalf
of the buyer or seller, whereas the buyer and seller may not be
able to access the same document templates as the real estate agent
or broker, such as when the documents are only available based on
membership in an organization from which the documents
originated.
[0082] Upon access, the user can provide (block 82) information
about the property transfer, such as a type of property transfer or
property address, price, type, and owner, via a cover sheet.
Specifically, the information can be provided as data values that
populate the form elements in the documents. Other types of
information are possible.
[0083] Based on the data values received from the user, a data
model is generated (block 83). The data model can include the data
values and data field identifiers for corresponding data field
definitions, as well as additional information. Additionally, the
data model is updated as data values change, new documents are
added, and new form elements are added. Data models are discussed
in further detail below with respect to FIG. 9.
[0084] Prior to, simultaneously or after generation of the data
model, a package of document templates for the transaction can be
generated (block 84) based on the received data values. For
example, upon receipt of the transaction type and property address,
a set of compliance rules can be identified and subsequently, the
identified compliance rules can be used to identify documents for
including in the document package for the transaction. For example,
at least a portion of the documents associated with the city,
county, or state in which the property is located can be used to
generate the document package. Further, properties located in a
particular location may be part of a homeowner's association and
the rules of the homeowner's association will apply to the property
in the transaction. The document package can be automatically
generated based on the received data values or selected by a user.
Additionally, the document package can be generated based on a
combination of automatic generation and user selected generation.
At any point prior to providing the document package to the other
party, documents can be removed or added to the package.
[0085] Once identified, the documents in the package can be
auto-populated (block 85). Specifically, form elements within the
documents are populated (block 85) with data values from the cover
sheet based on the data field identifiers associated with the form
elements. Any form elements in the documents not automatically
populated can be filled in by the user. For automatic population,
data values from the coversheet, which can be stored in a database
with field identifiers, are used as reference sources for
populating the form elements of the documents with data field
values. Other reference sources for populating the form elements
are possible, such as other documents, as discussed in detail below
with respect to FIG. 9. The documents can be populated once
identified and if further documents are later added to the package,
auto-population can occur once the document has been added.
Auto-population is also used when data values are changed. For
example, if the price of the property changes in one form element,
the new price is entered in the data model and will be used to
replace the old price in the other documents in the package.
[0086] Additional information can be stored with the populated form
element values or in additional storage accessible using case and
field identifiers. The additional information can include date and
time the data was last changed, provenance information about who
entered the data or where the data originated, and links to related
information, such as confirmation information that logs whether a
stakeholder has confirmed receipt and acknowledgement of the data
values.
[0087] During or after data population, review logic, such as
completeness logic (block 86), consistency logic (block 87),
correctness logic (block 88), compliance logic (block 89), and
confirmation logic (block 90) can be applied to the document
package to ensure a validity of the data values. In one example,
the review logic is applied in real time as the data values are
being entered in the form elements, either via auto-population or
via the user. Additionally, the review logic can be applied at a
later time, such as all the required data is entered in the
documents. For instance, for related form elements, checking cannot
occur until multiple fields are entered, either in the same
document or across different documents.
[0088] The review logic can be applied separately or
simultaneously. Once the documents in a package have been checked
for compliance, consistency, correctness and completeness, any
identified errors or inconsistencies can be automatically corrected
or a notification can be provided to the user to correct the error.
Once the document package satisfies all checks for completeness,
consistency, correctness, compliance, and confirmation, the
document package can be provided (block 91) to the other party to
the transaction.
[0089] However, prior to providing the document package to the
other party or after providing the package, updates (block 92) to
one or more of the form elements may be required. For example, the
other party receiving the document package may want to change a
term or form element value in one or more of the documents.
Alternatively, one or more terms of the transaction may change,
such as based on an outcome of the property inspection or by mutual
agreement. Additionally, regulations regarding the transaction can
change and must be reflected in the document package. All such
changes must be reflected in the transaction documents.
[0090] A change to a value populating a form element in a document
could, for example, occur via a user interaction when the document
is stored in the compliance system or by a fresh upload of a copy
of the document. Every change to a data field value is logged and
time-stamped. Whenever a new value of the form element becomes
available to the compliance system, the system updates the data
value in the caching database. Additionally, whenever a new copy of
the reference document is made available to the system, the system
synchronizes the data so that the most recently updated value is
reflected in the database for populating form elements. Other
implementations for storing the data field values are possible. In
each variation, consistency rules assure that when a change to a
referenced data field value for a document package becomes known,
the new data value is propagated to derivative form elements across
the documents in the document package. To maintain transparency and
consistency, the compliance system keeps a log showing the dates
and times of any change, and indicates where reconfirmation is
required of any stakeholder's acknowledgement of a value. The log
can be used to verify and confirm certain changes, as well as track
the user that made the change should a dispute regarding the
property arise.
[0091] If any updates (block 92) to a data field value are
necessary, one or more data field values are changed (block 93) and
propagated across the documents in the package. Additionally, a
change can be made to a form element and that change is updated to
reflect across all document templates in a document package that
include that form element. Subsequently, the review logic,
including completeness logic (block 86), consistency logic (block
87), correctness logic (block 88), compliance logic (block 89), and
confirmation logic (block 90) is applied to the updates. Otherwise,
if no updates are required, the document package is considered to
be successfully complete and can be provided to the other
party.
[0092] Process and Document Transformations
[0093] The document transformation and compliance system helps
reduce the amount of time required for preparing documents for a
real estate transactions, such as a sale or purchase of property,
and increases confidence that the documents are accurately
prepared. Generally, during a property sale and purchase
transaction, a potential purchaser reviews multiple properties,
which have been listed for sale. Each listed property requires a
listing agreement, which includes large amounts of information that
must be correctly listed for the property and comply with
jurisdictional regulations.
[0094] Eventually, the potential purchaser identifies an available
property for sale and generates an offer for sending to the seller
of the listed property selected. Generating the offer can be
tedious and time consuming based on the information that must be
provided and disclosed. Once the offer is accepted, all paper work
for the transaction must be completed before closing. Such paper
work includes documents relevant to the particular property and
transaction, and can include proof of title search, insurance,
flood certification, proof of homeowners insurance and mortgage
insurance, home appraisal, inspection reports, and closing
disclosure, among other documents, such as carbon monoxide detector
notice, new construction addendum, vacant land listing agreement,
and water heater statement of compliance. Other types of documents
are possible.
[0095] Users can utilize the document transformation and compliance
system to prepare the listing, offer, and related documents. Such
documents are prepared using information received from a user, such
as via a questionnaire or cover sheet. FIG. 8 is a diagram of an
interactive form 100 showing, by way of example, a transaction
cover sheet 102 with form elements for obtaining data values. The
interactive form 100 can include a navigation bar for an index 101
of pages for the transaction and a display of the cover sheet 102.
The index 101 can include content links for the cover sheet 102,
including a document link, listing services link, and marketing
service link. The listing services and marketing services are
described in commonly-owned U.S. patent application Ser. No.
16/560,966, titled "System and Method for Listing Document
Transformation and Compliance," filed on Sep. 4, 2019, and U.S.
Pat. No. 11,145,017, titled "Blockchain-Based System and Method for
Listing Document Transformation and Accountability," issued Oct.
12, 2021, the disclosures of which are hereby incorporated by
reference. However, other index links are possible, including
purchase service links, which can be utilized by a buying party to
the transaction, as described in commonly-owned U.S. patent
application Ser. No. 16/560,971, titled "System and Method for
Purchase Document Transformation and Compliance," filed on Sep. 4,
2019, and U.S. patent application Ser. No. 16/560,980, titled
"Blockchain-Based System and Method for Purchase Document
Transformation and Accountability," filed Sep. 4, 2019 the
disclosures of which are hereby incorporated by reference.
[0096] The cover sheet 102 can include multiple form elements,
which are used to generate a data model for the transaction. The
data fields of the cover sheet can include fields for at least one
broker or agent name 103, at least one party name 104, contract and
market dates 105, and property information 106, including property
identification number, street address, city, state and zip code,
and purchase price (not shown). Further, data specific to a seller
and his listing agent can be requested via the cover sheet, such as
a lock box code to access a key for the property or a gate code to
the property, as well as other types of property access
information, such as a combination to enter a condominium complex.
Other types of form elements are possible. A user, such as an
agent, broker or stakeholder, can populate the form elements of the
cover sheet 102 with data field values that are used for generating
a data model to identify a document package and perform compliance
checking. Once the cover sheet has been completed, a check mark or
other symbol or color can be used to provide a status of the cover
sheet in the index 101, which in this case, is complete.
[0097] In one embodiment, one or more compliance checks can be
applied via the review logic as the data values are entered into
the cover sheet. For example, correctness logic can be used to
check data values entered into the form elements of the cover
sheet. Specifically, the data values can be checked to prevent
propagation of incorrect information in the other documents of the
document package. For example, a real estate agent is completing
the cover sheet for his client, the seller, and fills out the
seller's email address as adam.able.gmail.com. The correctness
logic identifies that the email address is invalid due to lacking
the conventional syntax character "@" to separate the name of the
email holder from the name of the email service and marks the
incorrect data value as an error. The error can be provided as a
pop-up message or by highlighting the incorrect data value, and can
be removed upon correction of the data value. Other displays of the
error notification are possible.
[0098] The correctness logic can also connect to authoritative
sources to retrieve authoritative information for checking the data
values. For example, the property for sale is located at 1120 Rose
Avenue, Mountain View, Calif. 94040. As the real estate agent types
in the address "1120 Rose," an authoritative source, such as a
multiple listing service database, is accessed to obtain and
display valid property addresses matching the partial address
entered. The real estate agent can then select the property address
representing the property for sale by Adam Able. Consistency and
compliance logic can also be applied to the data values entered in
the cover sheet.
[0099] Data Models and Process Logic
[0100] Once obtained and checked, the data values of the cover
sheet are used to generate a data model. FIG. 9 is a block diagram
showing, by way of example, parts of data models 107 for different
transactions. Each data model can include data field identifiers
108 and data field values 109. In this example, the data field
identifiers are associated with a form element in the cover sheet
and documents in the library. The data field values are used to
populate all form elements with the corresponding data field
identifier. The same data field identifiers can be used across
documents, as well as transactions; however, the data field values
differ for each transaction.
[0101] Returning to the above example regarding seller, Adam Able,
the seller name is split into two fields with the field for first
name associated with a field identifier "seller.first.name" and the
field for last name associated with the identifier
"seller.last.name." The received data values of Adam for first name
and Able for second name are stored with the associated identifiers
in a data model having an extensible set of data field identifiers
for accessing and displaying information populating the documents.
All the received data values in the cover sheet and document
templates for the property transaction can be stored together as
the data model.
[0102] Once generated, one or more data values from the data model
can be used to identify rules for a particular transaction and the
identified rules can then be used to select documents for a
document package for the transaction. However, prior to generating
a document package, the data values from the data model can be used
to populate a disclosure document outlining a relationship between
a real estate agency and a seller or buyer. The template for the
disclosure document can include interactive fields for ensuring
acknowledgement by the seller or buyer, and signature, date, and
license fields.
[0103] Once the relationship between the real estate agent and
buyer or seller has been established, documents can be selected
from a document template library for inclusion in the document
package. FIG. 10 is a diagram showing, by way of example, a part of
a document template library 61. The library 61 provides a listing
of document templates 70 that are necessary for meeting compliance
regulations and practices for different jurisdictions. Each
document template 70 can be stored with information, including
template name 71, a date of last revision 72, whether the document
appears in a listing 73 of documents relevant to the listing agent
and seller, whether the document appears in an offer 74 for the
property, last publication date 75, last edit date 76, locale type
77, and assigned locale 78. The assigned locale 78 can list the
jurisdiction which requires the document, while the locale type 77
provides a classification for the type of jurisdiction, including
city, county, or state, as well as other types of jurisdictions. In
one example, each document template 70 can be accessed by clicking
on the template name. Further document templates 70 can be added
using an "add document template" button 79.
[0104] To generate a document package for a transaction, one or
more data values received via the cover sheet, such as the property
address, can be used to identify a set of rules for the
transaction. Subsequently, based on the identified rule set, one or
more documents can be selected from the library to form the
document package. The transaction can be assigned a unique
transaction identifier, which can then be used to uniquely identify
the document package. For example, the transaction identifier can
be a unique number or string, or could be generated as a string
that includes some human-interpretable information, such as the
real estate agent's name, seller's name, and a date together with a
number.
[0105] As more data values are provided for the form elements,
additional documents may be identified as required for the
transaction. Accordingly, templates for those documents are
instantiated and some of the field values can be filled in where
they have already been established. In this way, the document
package grows incrementally and automatically as needed.
[0106] In one embodiment, a listing of document templates can be
presented and an agent can select one or more documents to add to
the document package, as needed. FIG. 11 is a diagram showing by
way of example, an interactive form 110 for identifying document
templates for a transaction. The interactive form 110 includes a
navigation bar for an index of pages101 and a documents section
111. The documents section 111 provides one or more property type
selections 112, a search bar 113, and a listing 114 of document
templates 115. The property type selections 112 can be identified
and presented based on the address entered in the cover sheet and a
type of transaction, such as a selling or buying transaction.
Specifically, the address can be used to identify jurisdictional
organizations that cover the location of the property, while the
transaction type is used to identify listing or purchase documents.
For example, a property located in Mountain View, Calif. must
comply with real estate regulations enacted by the state of
California, as well as any local regulations. To list the property
located in the Mountain View for sale, document templates for
listing agreements that comply with real estate regulations in one
or more of California or locally are identified and presented. A
listing agreement represents a contract between a real estate agent
and an owner of the property to be sold and can include a list
price for the property, a beginning and end date for the property
listing, an amount of compensation for the real estate agent, and
authorization for the agent to work with third parties to further
the sale of the property, as well as other types of information.
However, different listing agreements drafted by different
organizations can include different conditions based on location,
property type, and preference of that organization. For example,
one professional organization in California includes, by default, a
clause in the listing agreement that requires a property to be
delivered to a buyer in operational order, while the listing
agreement drafted by a different professional organization does not
require, by default, the seller to make any repairs.
[0107] The property type selections for the Mountain View property
can include a manufactured home, residential home or vacant land,
or a residential home however, other property type selections are
possible. Thus, document templates for listing agreements for each
of the property types that conform with California and local
regulations are identified and displayed. The user, such as a real
estate agent or broker, can choose one or more of the transaction
type selections 112 for generating a document package for the
transaction. For example, if the property is a residential home,
the user can select residential documents associated with the
selected property types are displayed or selected for display in
the document template list 114 in the document section 111. In one
embodiment, all the documents associated with the selected property
types can be selected for display and inclusion in the document
package. Alternatively, all the documents associated with the
selected property types can be displayed and a user can select
certain documents for inclusion in the document package.
[0108] Further, the document section 111 includes a search bar 113,
which can be used to identify additional document templates for
adding to the document package. An agent may use the search bar if
he or she has information about the property or transaction that is
not evident yet from the information that has been entered in the
active documents. In this way, the agent can add relevant documents
to the package. For instance, the residential Mountain View
property may have water conserving plumbing fixtures, which require
an additional document for disclosure or is offered for sale as a
short sale, which also requires additional documents. Accordingly,
based on those special circumstances, the document templates are
accessed via the search bar 113 and added to the document package.
Further, the interactive form 110 can include a generate documents
button 116, which allows a user to view the document templates
selected for inclusion in the document package.
[0109] Based on the document template selections in the document
page 111, a package of documents is generated for the transaction
and displayed to the user. FIG. 12 is a diagram showing, by way of
example, an interactive form 120 displaying document templates for
possible inclusion in a document package 121. The web page 120
provides a listing of documents 122 for a listing agreement, for
example, that can be included in the document package 121 for the
property transaction upon confirmation of the transaction. In one
embodiment, the documents templates can be displayed as thumbnail
images, and selected for review and revision. Each thumbnail
representation of the active documents can include a title of the
document and a menu, which allows the user to edit or obtain
additional information about that document. Each of the documents
in the package can be auto-populated with the data values entered
in the cover sheet prior to display or upon display. Further, users
can upload external documents via an add document button 123 on the
interactive form 120. For example, homeowner association guidelines
and papers may not be easily available to individuals that do not
belong to the homeowner association and thus, can be uploaded.
[0110] During auto-population, the population logic processes the
documents selected for the package by reviewing the form elements,
looking up data field identifiers for the data fields in the data
model, and populating the form elements with the data values in the
data model that correspond with the data field identifiers. The
user can select a thumbnail for each document and review the
documents with the populated data values. If any form element
remains unpopulated, the user can enter a data value, which is
saved with a data field identifier associated with the unpopulated
form element and stored in the data model. Other documents in the
package that include a form element associated with the data field
identifier can be populated with the corresponding data value.
[0111] In different embodiments, different methods for looking up
the data field values to populate the documents are possible,
depending on whether the data field values are stored in a
reference database, in a reference document, or in a combination of
both. In one example, the data field values for a document package
are stored in both a database and a reference document as a value
for a corresponding form element. The reference document data field
or source includes the data value of record and the database
functions as a cache for that value. The cache is used to simplify
accelerated data field access for populating other documents. In a
different example, the data values can be stored in the data fields
of a reference document in the package and any changes to the data
values can be made immediately to the respective form elements in
the other documents. In a further example, the data values are
stored in a database and accessed upon display of the documents in
the package. For instance, when a change is made to a data value,
the value is changed in the database and the next time the
documents in the package are displayed, the fields are populated
with the updated values stored in the database just prior to
display.
[0112] At the same time or after auto-population of the documents,
compliance logic can be performed to ensure the completeness,
correctness, consistency, and compliance of the documents.
Completeness logic helps ensure that all required documents are
included in the document package for the transaction and that all
required fields for each document are filled in. Rules regarding
each form element are associated with the field definitions and
based on the information provided by the field definition, a
determination can be made that the associated form element remains
blank. For example, a signature field must be signed prior to
finalizing the document package for providing to the other party.
If no signature has been entered, completeness logic can identify
the field and send a notification to at least one user, such as the
real estate agent or client.
[0113] In one embodiment, completeness logic can be used to create
status indicators that indicate unfinished elements, such as empty
form elements within one or more documents. For example, the status
indicators can indicate that some fields in a required document
have not yet been filled in. The indicators can appear as a pop-up
message or other type of notification while the user is working on
the document in which a completeness error is identified, when the
user leaves the document with the completeness error, or during
checking of the document package. Ensuring that a document package
is complete by including all necessary documents for a transaction
and that all form elements within the documents of the package are
filled in helps limit interactions with parties to or stakeholders
of a transaction before information in the document package is
complete. For instance, the system can prevent a document package
from being sent to another party to the transaction for signatures
before required information is filled in, which can prevent
multiple rounds of back and forth communication between the parties
to fix the error and result in completing the transaction in less
time.
[0114] Completeness logic can also be used to identify form
elements to be added to a document depending on data values that
are filled in for other form elements in documents included in the
package. FIG. 13A is a diagram of an interactive form showing, by
way of example, a portion of the cover sheet 170 of FIG. 8. The
cover sheet 170 can include form elements for identifying a county
171 in which a property is located and the type of ownership 172 of
the property, including individual, trust, and entity. In this
example, the property is owned by an individual and the
individual's name, which can be provided under the seller's name
form element as described above with reference to FIG. 8, can be
used to populate form elements associated with identifiers for the
owner's name or identity.
[0115] However, additional information may be required based on a
data value entered by a user. For example, if information is added
indicating that a property has a swimming pool, additional forms
may be required. The completeness logic can be performed to request
the additional information. FIG. 13B is a diagram of an interactive
form showing, by way of example, the portion of the cover sheet 180
of FIG. 13A with a different data value. The cover sheet 180 can
include form elements for identifying a county 181 in which a
property is located and the type of ownership 182 of the property,
including individual, trust, and entity. In this example, a trust
183 owns the property, which is the subject of the transaction.
However, additional information about the trust is necessary to
complete the documents in the package because the previous form
elements did not include a request for trust name. The completeness
logic identifies the trust selection 183 and displays an additional
field 184 for a name of the trust.
[0116] Prior to, during, or after application of the completeness
logic, consistency logic can be performed to ensure that related
form elements in the documents in a document package are filled in
in a semantically-consistent manner. FIG. 14 is a diagram of a
document template 190 with form elements 191, 192 for property
price. The document 190 includes form elements for two different
representations 191, 192 of the sales price for a property. In one
field 191, the price data value 191 should be spelled out in words,
as is common practice for paper bank checks. The other form element
192 requires the price to be entered with a currency indicator,
such as a dollar sign followed by a number. The consistency logic
for checking syntax can refer to the data field indicator
"Prop.Sales.Price.Num," which is associated with the form element
192 for sales price number and the data field identifier
"Prop.Sales.Price.Str" for the sales price string of words. Based
on the similarity of the identifiers, including the common portion
"Prop.Sales.Price," the data value of the spelled-out field could
be checked for consistency against the numeric sales price via the
consistency logic.
[0117] In a further embodiment, the consistency logic together with
a data entry system could derive a string representation of the
sales price consistently and automatically after the numeric
representation of the price is entered. The consistency logic can
also identify and input the numeric representation of the sales
price after a string representation of the sales price. Other form
elements that can benefit from a consistency check include ensuring
that the property address in numbers matches with a spelled-out
version of the property number.
[0118] In addition to performing consistency logic on the document
package, correctness logic can also be performed to ensure that
data values populating the form element are verified by
authoritative sources. Specifically, the correctness logic can
identify invalid data values and provide suggestions for data
values via an authoritative source, as described above with respect
to FIGS. 8, 13A, and 13B. For instance, the correctness logic can
identify invalid email addresses, such as those without the
ampersand symbol or a domain. Additionally, the correctness logic
can connect to a multiple listing service or regional database that
stores addresses and utilize those addresses to provide suggestions
for partial data values entered by a user for an address. Other
examples of form elements on which the correctness logic can be
applied include zip code and state, and street address and city, as
well as many other form elements. The correctness that a particular
zip code is located within a particular state can be verified by a
mapping database or property records database.
[0119] Also, the data values can be checked using compliance logic,
which helps ensure that the documents in the package comply with
all regulatory requirements. The compliance logic can access and
use one or more authoritative sources to look up a required set of
documents based on the address of the property being sold. In one
example, the regulatory information is entered into the compliance
system by real estate subject matter experts using a Transaction
Coordinator Platform. The human experts consult appropriate
governmental and other sources, create document templates, and
assign the templates to the proper geographic region. The document
templates can be generated from documents prepared by different
organizations, such as regional real estate associations and
groups. Additionally, online government sources can be used to
obtain information.
[0120] Finally, confirmation logic can be applied to the document
package prior to sending the completed document package to the
other party. The confirmation logic ensures that all of the
required signing and dating of the documents are completed. A
notification can be provided to the user to identify any blank
fields that should have a signature or date. The notification can
be provided by a pop-up notification or by highlighting the blank
field. Once the document package has been populated and checked,
and no errors exist, the package can be provided to the other
party.
[0121] Once the document package for a real estate transaction is
generated, documentation of the transaction is important to
properly record in order to protect the rights of people to own and
use particular parcels of land and land-related resources. Although
buyers and sellers may have their own copies of records, their
copies can be lost, discarded, damaged or destroyed over time.
Property owners rely on other institutions to maintain backup or
master copies of various documents.
[0122] Such obstacles of recording publicly accessible transaction
documents and confidential records regarding the transaction can be
overcome by bringing together all the important records of a real
estate transaction and recording the records in an accountability
blockchain ledger with a timestamp so that all of the documents for
a transaction are available at once in a single block on a
blockchain under a compliance and accountability blockchain
approach. Recording publicly accessible documents is described in
detail in commonly-owned U.S. patent application Ser. No.
16/560,973, titled "Blockchain-Based System and Method for Document
Transformation and Accountability," filed Sep. 4, 2019, and U.S.
patent application Ser. No. 16/560,982, titled "Multi-Tier
Blockchain-Based System and Method for Document Transformation and
Accountability," filed Sep. 4, 2019, the disclosures of which are
herein incorporated by reference. Multi-tier or single tier
blockchains can be used, as described in detail with respect to
commonly-owned U.S. patent application Ser. No. 16/560,988, titled
"Single-Tier Blockchain-Based System and Method for Document
Transformation and Accountability," filed Sep. 4, 2019, and in
commonly-owned U.S. Pat. No. 11,227,350, titled "Single-Tier
Blockchain-Based System and Method for Document Transformation and
Accountability via Different Node Types," issued Jan. 18, 2022, the
disclosures of which are hereby incorporated by reference.
[0123] While the invention has been particularly shown and
described as referenced to the embodiments thereof, those skilled
in the art will understand that the foregoing and other changes in
form and detail may be made therein without departing from the
spirit and scope of the invention.
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