Am i the only one in here who is concerned that owning anonymous shares in real estate might not strictly be legal, or at least it is in some gray area of it.
A substantial part of large realestate purchases, globally, takes place via spv (special purpose vehicle) shells, because wealthy end beneficiaries are keen to optimize taxes, and not flaunt their wealth in public. Of course this is all done subject to local laws and regulations, and is perfectly "legal", just requires good lawyers.
ATLANT democratizes this process, for the masses, and has a further advantage of creating a liquid transparent market, which is a benefit to all participants.
mmm.. what is this exactly "spv (special purpose vehicle) shells"
anyway if you don't participate in the ico but buy the coins let's say in the exchange do you still get a part of the fees?
Is it like monthly or annualy?
1. Special purpose vehicle (SPV)
A legal entity created for a limited purpose. SPVs are used for a number of purposes including the acquisition and/or financing of a project, or the set up of a securitisation or a structured investment vehicle. They are usually used because they are free from any pre-existing obligations and debts, and are separate to the parties that set them up for accountancy, tax and insolvency purposes.
http://uk.practicallaw.thomsonreuters.com/4-107-75342. Sorry for being repettetive, but I'll quote again from pg 8-9 of the ATLANT White Paper, in the paragraphs below. The fees for the rental portion will be instantaneous, for tokenized properties - upon tokenization events. For PTOs, they will be set by voting of token holders, in conjunction with management companies of each PTO, likely on a monthly basis, for the most part.
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ATL tokens are essentially membership certificates in the ATLANT Platform, which give the following rights and privileges to their owners:
Listing fee charged in ERC20 compliant property tokens, in all properties listed through the ATLANT Platform during their initial property token offerings. The platform enables property owners and developers to tokenize property by creating customized smart contracts and perform a token distribution to either sell property (partially or completely) or attract financing for its construction. The size of the listing fee is initially set at 7% of the underlying asset and, subsequently, determined by voting of the ATL token holders. After a successful token sale, an agreed part of the property tokens is released out of ATLANT escrow to ATL token holders proportionately.
Commissions from P2P rentals are imposed on the lessor, as a small fee, once a transaction with the lessee is finalized. These commissions are distributed to the ATL token holders. The size of this fee is determined by voting of the ATL token holders.
Votes to decide various actions taken with respect to the property: platform listing decision, listing fee approval, law firm choice, management company choice (property tokenization), property for rent approval, rental fee approval.
Ability to work, and earn extra income, within the framework of ATLANT as an arbiter for conflict resolution in P2P rentals, moderated via an arbiter rating system. As a result of this work funds withheld from the escrow of the losing party are distributed to the ATL token holder who performed the arbitration.
Influence on the platform and ability to propose, vote on and aid further developments to improve the efficiency of real estate globally, as well as boost ATLANT’s global adoption and growth.
