Bitcoin is not legally recognized in Dubai, it is legal in the free zone but it is not a payment tool for buying properties in Dubai.
Also the property laws and voting in favor of selling or buying the property will be a problem especially when you are talking about 1 for every 8 votes.
Who is your legal representative here? I live near Dubai and I can verify this information.
Hi there!
Thank you for bringing that up. I will try to answer them as best as I can.
Regarding property laws and voting:I apologize if there was any confusion, but I'd like to clarify that there's no voting process involved in an individual owner's decision to sell their share. As a true owner on the title deed, you have full control over your share. Here are the options available when you want to sell:
- Shard has a right of first refusal for 10 days. If we don't purchase, the other 7 co-owners have the opportunity to buy.
- You can sell your share to friends or family.
- You could use a real estate agent, though this might not be the most efficient method for fractional ownership.
- We can list your share on our platform, where we have a pool of interested fractional ownership buyers.
This system ensures that individual owners have flexibility and control over their investment without requiring consensus from other co-owners for a sale.
Regarding legal representation:Shard operates in full compliance with Dubai's real estate laws and regulations. We are regulated by the Dubai Land Department and RERA. If you have specific legal questions, we'd be happy to provide more detailed information.
We appreciate your interest in verifying information, as transparency is very important to us. If you have any other questions or would like more detailed information about any aspect of our operations, please don't hesitate to share.[/quote]