Patent ID: 7158956

Claim:
A bartering system for implementing barters between a plurality of parties each having one or more classes of items available for barter comprising: means for creating a barter order including: means for designating a selected quantity of a first class of items to be bartered; means for designating a date range for transferring title of said first class of items to be bartered, whereby a barterer may elect between deferring the transfer of title to said first class items to a time after the barter order is used to complete a barter transaction and electing to transfer title along with the completion of a barter transaction; means for designating a barter value of said first class of items to be bartered; and means for designating a second class of items to be acquired concurrent with the sale of said first class of items; each of said first and second class of items including real property; means for designating additional information for each real property including a physical description and a market value of the real property; means for posting barter orders via an Internet connection to a barter database; means for displaying via an Internet connection posted barter orders whose first class of items match said second class of items of a barterer's order; means for selecting a posted barter order from said displaying means to effectuate a barter transaction which combines a barterer's barter order with the selected posted order; means for determining a payment amount to be paid pursuant to the barter transaction, the payment amount based upon a difference in value between the real properties in the barter transaction; and means responsive to the execution of the barter transaction for automatically initiating a transfer of a deed to real property.