So many questions pop up that aren’t fully explained. Is this just a portion of the property or a share of the llc that owns the property? That’s nothing new but lots of problems with that model, sec regulations (apparently whitelisting covers this but I have doubts), mortgage fraud/liability (if a lean is on even one property), who pays property taxes, etc.
Can i live in the house? Can i rent it?
What about market price fluctuation? How are the tokens linked to the price of the real property, that’s glossed over in the article.
Also, note that this is a property in the U.S. and only non-residents can buy the token. It seems like it’s just a new way to bundle mortgages to be traded (this time from your computer, not in wall street). Those two things kind of make me want it to fail.
Liquidity in real estate is much faster than represented in the medium article, you can get 80% of the value in a day for most residential property. Sure to actually sell, arm-length transaction, takes 3 to 6 weeks but that’s irrelevant.
To be fair, I really like the blockchain property deed. It’s a great use of crypto but this seems more like a way to separate home owners from their deed.