Real Estate Tokenization and Investments

Multiproperty is the condominium regime in which each of the owners of the same property holds a fraction of time, to which corresponds the faculty of use and enjoyment, exclusively, of the entirety of the property, to be exercised by the owners in an alternating manner. (Art. 1.358-C, of CC/22)

CVM Understanding: Administrative Process CVM No.19957.009524/2017-41 - Reg. Col. 0832/17

CVM Resolution 88. Provides for the public offer of distribution of securities issued by small business enterprises carried out with exemption of registration through an electronic investment platform

CVM Understanding: Circular Letter no. 4/2023/CVM/SSE Characterization of "receivables tokens" or "fixed income tokens" as securities

"Securities, when publicly offered, any titles or collective investment contracts that generate rights of participation, partnership, or remuneration, including resulting from the provision of services, whose incomes come from the effort of the entrepreneur or third parties." (Law 6385/76)

CVM Understanding: CVM Guidance Opinion 40

Exchange of property for token PROVISION No. 038/2021 - CGJ File No. 8.2021.0010/001575-8 Notarial and Registration Matter Agenda 2030 - ONS 16.6 - Develop effective, accountable, and transparent institutions at all levels. Regulates the drafting of public deeds of exchange of real estate with counterpayment in tokens/cryptoassets and the respective real estate registration by the Notary and Registration Services of Rio Grande do Sul.

Rental guarantee Art. 38. The deposit may be in movable or immovable properties. Economic freedom. Art. 421. Contractual freedom shall be exercised within the limits of the contract's social function. (Text given by Law No. 13.874, of 2019)

Registration in traditional CRI/debentures issuance models with registration at CVM; CRI as fixed-income securities of private credit representing the promise of a future payment related to real estate. They are titles backed by real estate credits, representing parts of a credit right.

Legal basis: Law No. 10.931/2004 Provides for the securitization of real estate developments, Real Estate Credit Bill, Real Estate Credit Note, Banking Credit Note CVM Instruction No. 414/04 Allows CRIs to be offered to non-qualified investors (retail) if they are backed by credits originated from properties with "habite-se", or from the acquisition (or promise) of real estate units whose incorporation has a patrimony of affection constituted according to applicable legislation.