US-20260127563-A1 - METHOD AND SYSTEM FOR RECORDING AND ENFORCING ENCUMBRANCES ON ASSETS USING MULTIPLE SECURE, IMMUTABLE LEDGERS

US20260127563A1US 20260127563 A1US20260127563 A1US 20260127563A1US-20260127563-A1

Abstract

To manage property records using a multi-layered hybrid distributed ledger architecture, identification information for a particular property is obtained and transmitted to at least one participant in a public distributed ledger network for a public distributed ledger layer. Ownership information for the same particular property is obtained and transmitted to at least one participant in a federated distributed ledger network for a federated distributed ledger layer. Transaction-related documents for the same particular property are obtained and transmitted to at least one participant in a private distributed ledger network for a private distributed ledger. The distributed ledger layers are different layers of a property distributed ledger each having a separate set of consensus rules for appending distributed ledger data to the respective layer. This allows for the immutable preservation of royalty terms and conditions for a property or asset using the distributed ledger.

Inventors

Jeff Livesay

Assignees

CopyForward Inc.

Dates

Publication Date: 20260507
Application Date: 20260106

Claims (20)

1 . A system for recording and enforcing property records using a plurality of secure, immutable ledgers, the system comprising: one or more processors; and a non-transitory computer-readable medium coupled to the one or more processors and storing instructions that, when executed by the one or more processors, cause the one or more processors to: cause a first ledger entry to be recorded on a first secure, immutable ledger, the first secure, immutable ledger being maintained by a first plurality of nodes under a first consensus mechanism and a first permission model, the first ledger entry comprising a cryptographic token associated with ownership of an asset; generate a set of executable instructions that executes or enforces at least one encumbrance associated with the asset; and cause a second ledger entry to be recorded on a second secure, immutable ledger, the second secure, immutable ledger being maintained by a second plurality of nodes under a second consensus mechanism and a second permission model, the second ledger entry including the set of executable instructions, wherein the second secure, immutable ledger provides a lower degree of decentralization relative to the first secure, immutable ledger.
2 . The system of claim 1 , wherein the first or second secure, immutable ledger is a blockchain or hash graph.
3 . The system of claim 1 , wherein the second secure, immutable ledger includes a side chain to the first secure, immutable ledger.
4 . The system of claim 1 , wherein the set of executable instructions executing or enforcing the at least one encumbrance are executable by the second plurality of nodes maintaining the second secure, immutable ledger.
5 . The system of claim 1 , wherein the instructions further cause the one or more processors to: cause a third ledger entry to be recorded on the second secure, immutable ledger, including a wrapped version of the cryptographic token.
6 . The system of claim 1 , wherein the instructions further cause the one or more processors to: receive a transfer request regarding the asset; and transmit the transfer request to the second secure, immutable ledger to cause the set of executable instructions to be executed.
7 . The system of claim 6 , wherein the set of executable instructions are configured to automatically distribute payment amounts in accordance with the at least one encumbrance.
8 . The system of claim 1 , wherein the instructions further cause the one or more processors to: cause the first and second secure, immutable ledgers to interoperate using an integration device.
9 . A method for recording and enforcing property records using a plurality of secure, immutable ledgers, the method comprising: causing, by one or more processors, a first ledger entry to be recorded on a first secure, immutable ledger, the first secure, immutable ledger being maintained by a first plurality of nodes under a first consensus mechanism and a first permission model, the first ledger entry comprising a cryptographic token associated with ownership of an asset; generating, by the one or more processors, a set of executable instructions that executes or enforces at least one encumbrance associated with the asset; and causing, by the one or more processors, a second ledger entry to be recorded on a second secure, immutable ledger, the second secure, immutable ledger being maintained by a second plurality of nodes under a second consensus mechanism and a second permission model, the second ledger entry including the set of executable instructions, wherein the second secure, immutable ledger provides a lower degree of decentralization relative to the first secure, immutable ledger.
10 . The method of claim 9 , wherein the first or second secure, immutable ledger is a blockchain or hash graph.
11 . The method of claim 9 , wherein the second secure, immutable ledger includes a side chain to the first secure, immutable ledger.
12 . The method of claim 9 , wherein the set of executable instructions executing or enforcing the at least one encumbrance are executable by the second plurality of nodes maintaining the second secure, immutable ledger.
13 . The method of claim 9 , further comprising: causing, by the one or more processors, a third ledger entry to be recorded on the second secure, immutable ledger, including a wrapped version of the cryptographic token.
14 . The method of claim 9 , further comprising: receiving, by the one or more processors, a transfer request regarding the asset; and transmitting, by the one or more processors, the transfer request to the second secure, immutable ledger to cause the set of executable instructions to be executed.
15 . The method of claim 14 , wherein the set of executable instructions are configured to automatically distribute payment amounts in accordance with the at least one encumbrance.
16 . The method of claim 9 , further comprising: causing, by the one or more processors, the first and second secure, immutable ledgers to interoperate using an integration device.
17 . A non-transitory computer-readable medium coupled to one or more processors and storing instructions thereon, that when executed by the one or more processors, cause the one or more processors to: cause a first ledger entry to be recorded on a first secure, immutable ledger, the first secure, immutable ledger being maintained by a first plurality of nodes under a first consensus mechanism and a first permission model, the first ledger entry comprising a cryptographic token associated with ownership of an asset; generate a set of executable instructions that executes or enforces at least one encumbrance associated with the asset; and cause a second ledger entry to be recorded on a second secure, immutable ledger, the second secure, immutable ledger being maintained by a second plurality of nodes under a second consensus mechanism and a second permission model, the second ledger entry including the set of executable instructions, wherein the second secure, immutable ledger provides a lower degree of decentralization relative to the first secure, immutable ledger.
18 . The non-transitory computer-readable medium of claim 17 , wherein the first or second secure, immutable ledger is a blockchain or hash graph.
19 . The non-transitory computer-readable medium of claim 17 , wherein the second secure, immutable ledger includes a side chain to the first secure, immutable ledger.
20 . The non-transitory computer-readable medium of claim 17 , wherein the set of executable instructions executing or enforcing the at least one encumbrance are executable by the second plurality of nodes maintaining the second secure, immutable ledger.

Description

CROSS-REFERENCE TO RELATED APPLICATIONS This application is a continuation of U.S. patent application Ser. No. 18/635,900 entitled “Method and System for Managing Physical Property Information Using a Plurality of Secure, Immutable Ledgers,” filed on Apr. 15, 2024, which is a continuation of U.S. patent application Ser. No. 18/124,689 entitled “Method and System for Recording Forward Royalties Using a Distributed Ledger,” filed on Mar. 22, 2023, which is a continuation of U.S. patent application Ser. No. 17/973,269 entitled “Method and System for Recording Forward Royalties Using a Distributed Ledger,” filed on Oct. 25, 2022, which is a continuation of U.S. patent application Ser. No. 17/746,606 entitled “Method and System for Recording Forward Royalties Using a Distributed Ledger,” filed on May 17, 2022, which claims priority to and the benefit of the filing date of (1) provisional U.S. Patent Application No. 63/190,081 entitled “Method and System for Recording Forward Royalties Using a Distributed Ledger,” filed on May 18, 2021, and (2) provisional U.S. Patent Application No. 63/211,298 entitled “Multi-Layered Distributed Ledger Architecture for Property-Related Tasks,” filed on Jun. 16, 2021, the entire contents of each of which is hereby expressly incorporated herein by reference. TECHNICAL FIELD The present disclosure relates generally to systems and methods to digitally automate and semi-automate tasks involving titles and ownership for real, personal, and intellectual property of any kind. In particular, the system provides a multi-layered infrastructure and platform combining public, federated, and private layers in a distributed ledger that are utilized in a networked environment for performing tasks involving property and property transfer. BACKGROUND It is common to use computing systems, methods and devices to perform certain tasks and operations related to identifying property, managing and storing property records and documents, searching, transferring and recording ownership of property, clearing property of encumbrances, and other property-related tasks. In many cases the use of computing systems, methods and devices can increase the accuracy and efficiency of performing a given property-related operation, task or transaction; however, there are many deficiencies and inefficiencies in the way today's computing systems are used with respect to property, if and when they are used at all. Even in today's highly digitized and automated world, a high percentage of activities surrounding the identification, recordation, ownership, disencumbering, transfer, and management of property are manual, inefficient, inaccurate, non-secure and subject to costly errors, fraud, abuse, corruption, and theft. There are three (3) main types of tangible and intangible property. The first type of property is real property which includes land, agricultural, residential, industrial and commercial real estate and any improvements thereon. The second type of property is personal property which includes vehicles, watercraft, aircraft, art, gems, jewelry, appliances and essentially any property that is movable. The third type of property is intellectual property which includes intangible creations of the human intellect such as patents, copyright, industrial design rights, trademarks, plant variety rights, trade dress, geographical indications, trade secrets, utility models, service marks, and trade names. Many types of property and associated documents, such as titles and deeds, are recorded in registries such as land registries, registrars, registers of deeds, departments and bureaus of motor vehicle registries, vessel registries, aircraft registries, patent and trademark offices, and so forth. Property registries vary by jurisdiction including by country, state, province, district, sub-district, county, parish, and local municipalities (e.g. cities, villages, settlements, communes and the like). The most fragmented type of registries are registries for real property; these land registries are typically highly localized such as in the United States where each of the approximately 3,100 counties, boroughs, census areas, and parishes have their own unique registry or registrar for real property. Some countries have only one national land registry. Historically there have been numerous jurisdictions where there are no property registries at all, such as several countries in Africa and other countries such as Afghanistan. Somewhat less fragmented are registries for vehicles and watercraft, such as in the United States where these tend to consist of one statewide or territory-wide registry, typically managed for vehicles by a state Department or Bureau of Motor Vehicles, and typically for boats by a state Wildlife Resources Commission, a Department of Natural Resources Conservation, or the like. Additionally, the United States Coast Guard operates a national registry for water vessels, the National Vessel Documentation Cen