Frequently Asked Questions

A RealtorToken represents shares in an SPV (Special Purpose Vehicle) that owns the property. You don't own "bricks directly", but a proportional part of a company whose only asset is the property. This is the standard structure for institutional real estate investment (REITs, real estate funds). The SPV is registered and audited.

Generally no, unless you own 100% of the tokens and the SPV's by-laws allow it. Tokenized properties are for collective investment, not personal use. The property generates rent that is distributed to all token holders. Exception: some projects offer "right of use" for majority holders.

The SPV as property owner is responsible, NOT individual token holders. SPVs maintain mandatory civil liability insurance. Token holders' liability is limited to their investment (shares in a limited liability company). The manager (Cuandeoro) coordinates insurance and incident management.

Monthly or quarterly, depending on the property. The smart contract distributes automatically: gross rent - expenses (community fees, insurance, management) - reserve = net rent. Distribution in EURC to your Stellar wallet on the established date. Full history visible on-chain.

With no rent, there is no distribution. Fixed expenses (IBI, community fees, insurance) are covered from the reserve fund. Prolonged vacancy (>3 months) triggers a review of the rental strategy. Premium properties may have vacancy insurance that covers part of the expected rent.

Unrealized appreciation is reflected in the token price on the secondary market (supply/demand). Upon property sale (exit event), net gain is distributed proportionally among holders. Annual valuations are performed by independent appraisers to guide the reference price.

On the Stellar DEX (integrated into the dashboard) or on authorized secondary marketplaces. You set your price, another verified investor buys. Transfer is instant on blockchain + proportional dividend rights pass to the buyer. KYC is required for both parties.

Liquidity is NOT guaranteed. Depends on market demand for that specific property. Premium/rentable properties tend to have more buyers. Recommendation: consider tokenized real estate as a medium-term investment (3-5 years). Some properties may have liquidity pools or AMM, but with possible slippage.

Depends on legal structuring. RealtorTokens representing SPV shares are "transferable securities" under MiFID II. Implications: regulated issuance (prospectus or exemption), regulated custody, MiFID investor protections. We operate under the €8M/12 months exemption for crowdfunding with prospectus.

Depends on your country of residence. Currently: EU + EEA + Switzerland accepted. USA NOT accepted (SEC regulations). UK under review. LATAM: varies by country. Enhanced KYC is applied to non-residents. Tax implications vary—consult your advisor.

Primary (purchase): issuance fee 2-3% (included in token price). Annual: property management 8-12% on gross rent, platform fee 1% on NAV. Secondary (sale): network fees (~€0.01), possible capital gains withholding. NO hidden custody or maintenance fees on Stellar.

Minor repairs (<€500): covered from monthly reserve. Major repairs: SPV decides in assembly or governance vote on-chain. Large renovations (roof, elevator) may require: special dividend withholding, capital call (token holders contribute extra), or bank financing to the SPV.

Native regulatory compliance (AUTH_REQUIRED for KYC, CLAWBACK for court orders). Minimal costs (€0.00001 vs $5-50 on ETH). Finality in 5s (vs 15min ETH). Native asset flags suitable for securities. EURC/USDC stablecoin availability. Ethereum is valid, but costs make it unviable for frequent dividends.

Your tokens remain in your wallet (non-custodial). The SPV continues to exist as a legal entity. There would be a transition period to appoint a new manager. Property and rent continue, only platform administration changes. Smart contracts continue executing automatically. Worst case: on-chain governance vote to liquidate the SPV.

Your token's market value reflects depreciation (if SPV sold, you'd receive 30% less). However: rental dividends continue (rent doesn't drop as much as capital), there is no margin call or forced liquidation, you can hold until recovery. Unlike a mortgage, you don't risk losing more than you invested.

No. Your liability is limited to your investment (token value). This is not like a direct mortgage where you respond personally. The SPV is a limited liability company: creditors can only claim against the SPV, not against individual shareholders. Maximum loss = your investment.

Regulatory change: new laws could restrict tokenization (unlikely in EU with MiCA). Requirement for full prospectus: would increase issuance costs. Custody requirement: would need licensed custodian. We operate under current exemptions and monitor legislative changes. Contingency: migrate structure if necessary.

In Spain: as savings income (19-28% depending on amount). The SPV withholds 19% (IRPF withholding) before distributing. You receive net and declare gross in your tax return with credit for what was withheld. Non-residents: applicable withholding (usually 19% EU, 24% others) or double taxation treaty.

Capital gains = Sale price - Acquisition price - Expenses. In Spain, taxed as savings (19-28%). Losses can offset gains from same year (+ 4 years carryforward). Selling EURC for fiat is NOT a taxable event (stablecoin 1:1). We provide an annual report with your purchase/sale history to facilitate declaration.

Triggers: scheduled term (5-10 years typically), favorable offer, on-chain governance vote (67%+ majority). Process: valuation → offer acceptance → notary sale → proceeds distribution to token holders → token burn. Distribution in EURC/EUR proportional to participation.

1 token = 1 vote. On-chain voting (Soroban/multisig) for: sale of property, change of manager, major capital calls, significant renovations. Voting period: 7-14 days. Quorum: 30-50% of tokens (varies by decision). Automatic execution if threshold is reached. Full transparency of results on blockchain.

The SPV's bylaws include an arbitration clause (CEDR or local chamber). On-chain votes for resolvable matters (sell/not sell). Persistent disputes: forced buyout at NAV (reluctant party can be bought out). Extreme cases: SPV liquidation with proportional distribution. Cuandeoro acts as mediator before arbitration.

Digital: ownership certificate (PDF signed by the SPV), Token Disclosure Document (whitepaper), current property appraisal, insurance policy, rental contract (anonymized), quarterly financial reports, blockchain record of all your transactions. On-chain: your tokens are verifiable proof of participation.

Currently limited on Stellar (emerging DeFi ecosystem). Future: Soroban lending protocols could accept RealtorTokens as collateral. Regulated alternative: some banks accept tokenized assets as collateral with legal agreement. We are exploring partnerships for DeFi lending with compliant KYC.

Yes, on the Stellar DEX, if there is liquidity. Example: RealtorToken → EURC → USDC. The token has AUTH_REQUIRED, so both parties must be KYC'd. Limitation: liquidity depends on market demand. Best practice: sell at NAV reference price or slightly below for quick execution.

MiCA (Markets in Crypto-Assets) is EU regulation effective from June 2024 for stablecoins and December 2024 for all CASPs. Real estate tokens, if structured as securities, fall under MiFID II, not MiCA. However, platforms handling these tokens must comply with MiCA for the custody and exchange aspects.

Tokens are part of your estate. Heirs must: 1) Prove inheritance (certificate, will), 2) Complete KYC, 3) Request transfer via support + attached documentation. Technically: we use AUTH_REQUIRED to validate the new holder before transferring on-chain. Inheritance taxes apply according to residence.

Your tokens are ALWAYS in your self-custody wallet. CuanDeOro does not hold your assets. If we close, your tokens remain on Stellar, accessible with your keys. The SPV continues to exist as a legal entity. We are not a bank: there is no FGD (Deposit Guarantee Fund), but neither is there counterparty risk.

SPV: jurisdiction of property (Spain for Spanish properties). Platform (CuanDeOro Ltd.): Ireland. Disputes: first mediation via CEDR, then Dublin courts or local courts by property location. For Spanish consumers, CESCO consumer arbitration applies if preferred.

Critical measures: 1) Only access via official domains (realtortoken.es, cuandeoro.com), 2) NEVER share your seed phrase, 3) Verify contract addresses against official stellar.toml, 4) Enable 2FA in your account, 5) Use hardware wallet for large amounts, 6) Distrust "urgent" requests via email/Telegram.

The smart contract alone does not transfer property (requires public deed). However, it IS valid for: automating payments, recording conditional agreements, distributing dividends, voting. In Spain, the smart contract can be attached as electronic evidence under Law 6/2020. The code complements, it does not replace, traditional legal documentation.

1) Internal: email to complaints@realtortoken.es, response within 15 business days. 2) If not satisfied: CEDR mediation (ADR). 3) EU consumers: Online Dispute Resolution (ODR) platform. 4) Litigation: Dublin courts or Spanish consumer arbitration. Property claims: via SPV, with legal expenses covered from reserve.

No. Minimum age is 18 years (age of majority in EU). KYC requires valid government ID. Minors may hold crypto with parental supervision outside regulated platforms, but cannot invest in security tokens. We recommend financial education before handling digital assets.