Draft document, pending legal review. This is not final legal text.
Risk disclosure
Risk of capital loss
Investing in a real estate development is a risk activity. You may lose part or all of the invested capital. Any returns mentioned are a target, not a promise, and depend on factors outside our control.
Nature of the right: personal, not in rem
What is acquired is a contractual right against the vehicle that issues the series, not a right in rem over the property. Under the planned structure the property is held by the trust: a participant is not entered in the property registry, is not a co-owner, and cannot claim a physical portion of the asset. Tokenization is indirect, because the token represents the participation in the vehicle and not the property. The final structure of each series is not closed yet, and it may change the details but not this nature.
As a risk, that means two things. First, the claim runs against the trust and depends on its assets and on what the instrument establishes, not on being able to enforce against the property on your own. Second, the position is not transferred the way a property is transferred: it is transferred on the terms the instrument sets. This wording is a draft and depends on legal review and on the final structure.
Specific risks
- Construction execution: delays, cost overruns, or contractor default.
- Market: changes in property value and demand.
- Liquidity: there is no secondary market. There is a board where a holder can post that they would be willing to transfer a position, and someone else can register interest, but that is not a market: the platform does not execute the transaction, moves no funds, and does not guarantee that a counterparty will appear or at what price. A match recorded on the board becomes visible to both parties and nothing more: the platform shares no contact details and puts nobody in touch with anybody. The actual transfer depends on what the instrument requires, including any consent needed. Your position may be hard to transfer.
- Regulatory and legal: the structure is being defined and may change.
- Technology: on-chain components run on a test network (testnet) and carry no value.
- Currency: amounts are expressed in US dollars and may be subject to local restrictions.
Before you continue
Read all the documentation, consider your risk profile, and seek independent professional advice. We do not provide personalized financial advice.
This document is a draft and may change until legal approval.