Importance

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Abstract

The present invention utilizes a variety of strategies to reduce transaction costs through automation of the exchange process using Internet and computer technology and use of sophisticated formulas to maximize benefit for a particular user. The proposed technology allows owners of property to significantly reduce the transaction costs currently incurred in completing .sctn.1031 LKE transactions. In one embodiment, the system consists of a Like-Kind Exchange (LKE) Broker that performs the like-kind exchange logic, one or more databases which are connected to the LKE broker, synchronization modules (LKEsync) installed at the exchanger for automatic data exchange and update, HTML browsers and electronic mail clients. The participants of the LKE transaction system are an arbitrary number of exchangers (the customers), one or more Qualified Intermediaries (usually banks) and one or more LKE brokers. The LKE broker implements the like-kind exchange logic, controls information flow and manages data security and (digital) signing. The system uses a global network to exchange information between the participants.

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First Claim