Brick by Block:
Navigating the legal landscape of tokenizing real estate.
Smart contract automation handles the mechanics of a distribution after the hard work is done. The hard work is closing…
Jason Powell
Tokenization changes the infrastructure of a real estate security. It does not change the fact that issuer-level events still have…
Jason Powell
Tokenizing a real estate security does not transform recordkeeping into a blockchain-only exercise. The legal ownership record must remain accurate,…
Jason Powell
Tokenizing a real estate offering makes issuance, transfer, and recordkeeping faster. It does not make the reporting obligations disappear. The…
Jason Powell
Exits in a tokenized real estate structure are not a trading feature. They are a legal and operational process that…
Jason Powell
Capital calls do not disappear because a real estate vehicle is tokenized. The underlying asset still has real-world cash needs….
Jason Powell
Fractional ownership is older than blockchain. What tokenization changes is not the economic idea of dividing a real estate asset…
Jason Powell
In a single-asset tokenized offering, the investment thesis is the property. In a multi-asset tokenized offering, the investment thesis is…
Jason Powell
Tokenized real estate does not eliminate cross-entity conflicts. In most cases, it adds a layer to them. A multi-entity structure…
Jason Powell
In most tokenized real estate offerings, the investor does not own the building. The investor owns an interest in the…
Jason Powell
A tokenized real estate offering typically involves three distinct roles: the sponsor who controls the asset, the issuer that creates…
Jason Powell
Tokenization changes the format of ownership and transfer. It does not change the need for a legal entity that gives…