Brick by Block:
Navigating the legal landscape of tokenizing real estate.
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…
Jason Powell
Fractionalized real estate makes ownership more accessible. It does not make governance easier. Dividing an economic interest across hundreds of…
Jason Powell
The transfer approval clause is the provision in a tokenized offering that connects wallet movement, securities law compliance, and the…