Patent ID: 6947907
Filing Date: 2005-09-20
Classification: G06Q

Abstract:
1. A process for managing ownership of a valuable item, said valuable item being one of a first item and another item, said process comprising: leasing said first item to a customer in a first financial transaction between a merchant and said customer so that said customer is thereafter obligated to make periodic lease payments to said merchant; establishing a reserve credit account (RCA) for said customer with said merchant; recording the accumulation of funds in said RCA in response to payments voluntarily given to said merchant by said customer after said first financial transaction, said establishing and recording operations being performed using a computer system; engaging in a second financial transaction between said customer and said merchant, said second financial transaction occurring after said first financial transaction and involving said first item and said another item at the option of said customer, and said second financial transaction causing funds recorded in said RCA to be reduced; and transferring affected ownership rights of one of said first item and said another item to said customer in response to said second financial transaction.