Patent ID: 8571992

Claim:
A computer-implemented method for effecting transfer of title objects using one or more computing devices, comprising: storing, by the one or more computing devices, a first title object received from a first entity in memory associated with a lockbox programmed to securely execute transfer of title objects between parties, the first title object being encoded with title data representing a plurality of rights, the first title object also being encoded to effect redemption of each of the rights by presentation of the first title object to a title-enabled process, the first title object also being encoded with an associated title object state corresponding to a first value which corresponds to an externally stored state that is stored separately from the title object state; transferring, the one or more computing devices, ownership of one or more of the rights represented by the first title object to a second entity by releasing the first title object from the memory associated with the lockbox to the second entity upon satisfaction of at least one criterion; and updating, by the one or more computing devices, both the associated title object state and the externally stored state to correspond to a new value in conjunction with releasing the first title object to the second entity, the updating ensuring that only a single valid instance of the first title object is in circulation.