Patent ID: 7870049
Filing Date: 2011-01-11
Classification: G06Q

Abstract:
1. A method of protecting a person with a property interest in a piece of real property against a loss of market value of the real property during ownership of the property interest, the method being performed by a hardware computing device and comprising: defining how the loss of market value of the real property is calculated at a time prior to the person selling the property interest; defining in a memory of the computing device a number of types of events that cause the real property to lose market value as compared with a base market value, each of the number of types of events occurring prior to the person selling the property interest; selecting a number of the defined types of events to be for which the person is to be protected; issuing to the person a real estate market value insurance policy, the policy promising to compensate the person for any loss of market value of the real property based on any of the selected types of events and according to the defined loss of market value, the issued policy excluding losses that arise by way of determined action or lack of action by the person, the issued policy not requiring the person to sell the property interest to establish the loss; establishing a premium with regard to the policy based on a calculation of a risk of loss incurred in connection with the policy; collecting the established premium; receiving a notification of an occurrence of one of the selected types of events; transmitting information to provide compensation to the person for a value of the one of the selected types of events; thereafter, receiving a notification of a sale of the property interest; determining that the property interest has regained at least a portion of the value of the one of the selected types of events; and collecting an offset payment from the person to offset the compensation to the person.