METHOD AND SYSTEM FOR EFFECTING PAYMENT TO A MUNICIPALITY AND RECEIVING A CERTIFICATE OF PAYMENT

摘要

A real estate closing payment system and method for transferring funds of a closing party to a municipality, where the funds are associated with fees due with respect to a particular real estate property, is provided. The system includes a registration module configured to register the closing party and a funding source of which the funds will be transferred from, a calculation module configured to calculate an amount of the funds due to the municipality, a transfer module configured to transfer the funds from the funding source of the closing party to the municipality, and a certification module configured to generate a certificate of payment and deliver the certificate of payment to the closing party, municipality, and/or an appropriate recording institution.