Deed NFT

Until such time as existing property law in nation states recognizes a wallet address or NFT as the lawful titleholder of an asset, it is not possible to directly proxy ownership via a token. However, it is possible to use existing law to create a secure and effective workaround.

A Deed NFT is a certificate of proof of a real estate asset and its ownership by a specific Titleholder. It will be minted by Plano to the owner of an asset when the asset is held within the specific arrangement outlined in the diagram below.

A Titleholder is a legal registered entity within a jurisdiction that is permitted to either own, or be the beneficial owner, of a real estate asset. An example of such an entity is a Limited Liability Company in the United States.

The real estate asset may be held directly by the Titleholder, or indirectly via a trust depending on regulatory requirements in each jurisdiction.

A Deed of Trust may be recorded against the property in favor of the LLC to prevent the property from becoming otherwise encumbered. With this enacted, any additional lien, either voluntary or involuntary, will be ineffective. The security against liens allows the Deed NFT to be traded as it now possesses the attribute of a clear title.

Metadata

The Deed NFT contains metadata that provide detail about the property and its ownership. Public information such as the property address, dimension, number of bedrooms etc. In addition, links to documents stored immutably on the blockchain will also be contained in metadata.

Key documents to be included in the Deed NFT are:

• LLC Operating agreement

• Property Title or Property Trust in cases where the property is held in trust

• Deed of Trust

These documents will only be viewable by the Deed NFT owner or those whom they elect to permission. In this way, data privacy is possible for Deed NFT owners by allowing them control of their own data.