Further Developments in the Use of the Block Chain and Cryptocurrency in Real Estate Transactions
A recent article in this series addressed the evolving use of the block chain and cryptocurrencies in real estate transactions. That article addressed the risks and benefits of these non-traditional deals, including such matters as party identification and anonymity, coin/token price volatility and real property asset valuations, and the possible effects of block chain based transactions on title work. For the sake of brevity that piece will not be restated here. But, to make it easy, here is a link to that article. (Do be sure to see the .pdf presentation by this writer embedded in that article.)
That piece was not the last word on this topic.
A September 10, 2019 article by WGCU/NPR entitled “For This South Florida Investor, The Future Of Real Estate Is Through Cryptocurrencies” addressed a new real estate investment vehicle based upon the block chain. 1 That article describes RealT, which currently offers ownership interests in rental properties in Michigan, with expansion plans for Atlanta and South Florida.
One matter which ‘jumps out’ from RealT’s homepage is the very small entry investment, which currently shows as low as $63.75.2 The RealT website itself is useful given the amount of resources appended to it. Those resources should be studied carefully – with the assistance of properly qualified and licensed advisors – before committing to any investment.3 The interview of RealT’s Florida-based CEO is also worth a read-through regarding his perspectives on Bitcoin.
”Just today the writer of this blog piece saw a Bitcoin ATM in a Gainesville gasoline station.
One snippet to note is that article’s reference to Bitcoin ATM machines. Just today the writer of this blog piece saw a Bitcoin ATM in a Gainesville gasoline station. So…The scope of Bitcoin is indeed expanding.
More to follow as more follows.
1 The WGCU/NPR article and the matters discussed in it, including the referenced investment vehicle, is presented for information and educational purposes only. Bogin, Munns & Munns is not an investment advisor, does not offer investment advice accordingly, and does not endorse that investment vehicle.
2 Subject, of course, to repricing depending upon the market price of the underlying cryptocurrency used. And, again, please see footnote 1 above.
3 With apologies, but again see footnote 1 above.
– For more information, call Philip N. Kabler of the Gainesville, FL office of Bogin, Munns & Munns at 352.332.7688, where he practices in the areas of business, banking, real estate, and equine law. He has taught business and real estate law courses at the University of Florida Warrington College of Business Administration and Levin College of Law and is the President-Elect of the Eighth Judicial Circuit Bar Association.
NOTICE: The article above is not intended to serve as legal advice, and you should not rely on it as such. It is offered only as general information. You should consult with a duly licensed attorney regarding your Florida legal matter, as every situation is unique. Please know that merely reading this article, subscribing to this blog, or otherwise contacting Bogin, Munns & Munns does not establish an attorney-client relationship with our firm. Should you seek legal representation from Bogin, Munns & Munns, any such representation must first be agreed to by the firm and confirmed in a written agreement.