Patent ID: 6850902

Claim:
A computer-implemented method of operation for a user production of a title record of preselected data associated with an equipment piece transaction comprising the steps of: a. providing a title record format for data to be associated with a transaction of an equipment piece; b. providing a database for storing a plurality of title records with said format therein; c. placing said database in a central computer available for access by a plurality of users on a computer network; d. determining whether a user on the network is authorized to fashion a title record in said database, otherwise displaying a selected title record for viewing only to the user on the computer network; e. if said user is authorized to fashion a title record, accessing said title record from said database for a particular equipment piece; f. if said title record for said equipment piece is not in said database, creating a new title record for said equipment piece by entering said data to be associated with said equipment piece inclusive of ownership from an available outside source into said new title record; g. if the transaction of said equipment piece is a sale transaction, choosing data from an available bill of sale inclusive of at least old ownership data for comparison with corresponding ownership data in said title record; h. comparing said chosen bill of sale data to said corresponding data in said title record inclusive of at least said old ownership data previously entered in said title record; i. upon a match of said data in step h., entering at least data from said bill of sale indicative of a new owner into said new title record; j. determining whether any collateral information associated with said equipment and entered into said title record would preclude the issuance of an owner's title; and k. if not precluded, issuing said title record in a form indicative of ownership of said equipment piece.