Property Registration Guide
Welcome to our Property Registration Guide! Here, you will learn about the steps to register your property and create a digital representation of it in the form of a DeedNFT. This process involves providing property details, proof of ownership, and undergoing a verification process.
Step 1: Navigate to the Registration Page
The first step to registering your asset (whether it's real estate, land, vehicles, or commercial equipment) is to navigate to the registration page on our platform.
Access the platform: Open your web browser and navigate to our platform's URL.
Login or Sign up: If you already have an account, click on the 'Login' button at the top right corner of the page and enter your login details. If you don't have an account yet, you will need to create one. You can do this by clicking on the 'Sign Up' button and providing the necessary details. Remember to use an email address you have access to and a secure password.
Dashboard: Once you're logged in, you will be redirected to your dashboard. This is where you can see all your current assets and any ongoing transactions.
Navigate to the Registration page: From your dashboard, look for a button or a menu option labeled 'Register New Property' or 'Register Asset.' Click on this to start the registration process.
The registration page is where you will fill in all the details about your asset. Make sure you have all the necessary documents and information handy to make the process smooth and quick.
Step 2: Submit Property Details
This registration form will ask for different information depending on the type of asset you are registering - real estate, vehicles, or commercial equipment. Let's go through each one:
Real Estate and Land
If you're registering a piece of land or real estate, you will need to provide the following details:
Property Zoning: Specify whether it is residential, commercial, industrial, etc.
Property Sub-Type: Select what type of property you're registering, like a house, an apartment, or a piece of land.
Property Size: Enter the size of your property. This might be in square feet or acres, depending on the property type.
Property Location: Provide the full address of your property.
Ownership Details: Describe your ownership of the property. For instance, are you the sole owner, or is it owned jointly with others?
For more specific properties like residential real estate, further details like the number of bedrooms and bathrooms may be required. For land properties, you might need to specify the zoning type. Make sure you have these details ready.
Vehicles
If you're registering a vehicle, you will be asked for:
Vehicle make and model: The manufacturer and model name of your vehicle.
Year: The year your vehicle was manufactured.
VIN (Vehicle Identification Number): Unique identifier code for your vehicle.
Current Mileage: How much distance your vehicle has covered.
Additional details like the vehicle's color, number of previous owners, and service history might also be needed.
Commercial Equipment
If you're registering commercial equipment, you will need to provide:
Equipment type: What kind of equipment you are registering.
Model and Manufacturer: The model name and manufacturer of the equipment.
Year of Manufacture: When the equipment was made.
Current Condition: The operational status of the equipment.
Specific details like the equipment's service history and any existing certifications or warranties might also be requested.
In addition to these, you will also need to upload proof of ownership. This can vary depending on the asset type:
For real estate, this might be a title deed.
For vehicles, this could be the vehicle's title or registration documents.
For commercial equipment, this might be purchase receipts or a bill of sale.
Remember: Accuracy is crucial. Incomplete or misleading information can delay the verification process or even lead to rejection of the registration. After you've filled out the form as accurately as possible, click 'Submit' to send it for off-chain verification.
Step 3: Provide Proof of Ownership
To validate your ownership of the property, you'll be asked to provide pertinent documents. This might include:
Deed: This is a legal document that represents ownership of your property.
Title: This document shows the legal right to possess the property.
Purchase Contract: The contract you signed when buying the property.
For Individual Owners, you may also need to provide:
Identity Verification: Such as a copy of your passport or driving license.
Proof of Address: This could be a utility bill or bank statement showing your name and residential address.
For Entity Owners like companies, you will need to provide:
Certificate of Incorporation: Document showing your company has been formed and registered legally.
List of Directors and Shareholders: Official list showing individuals who have interest and control in the company.
Company Address Proof: Document showing your company's operating address.
Remember, all of the documents you submit should be valid and up-to-date.
Step 4: Enter Your Ethereum Address
Next, you'll need to provide the Ethereum address where you'll receive your DeedNFT. Be sure to enter an address that you control and have access to, as it will be the official owner of the DeedNFT.
Step 5: Await Property Validation
After submitting your registration request, our team will review the information and documents you've provided. They will verify your ownership and the property details. This process is carried out off-chain and may take some time depending on the complexity of the verification.
This process involves:
Document Validation: The team will check if all the required documents are provided and that they are valid and clear.
Ownership Verification: The team will confirm that the documents indeed show your ownership of the property. They will also verify your identity against the name on the documents.
Property Verification: The team will check if the property details you provided match with those in the documents. They may also utilize external databases or local agencies to confirm the information.
KYC/KYB Process: For Individual owners, the team will verify the identity details (Know Your Customer process). For Entities, the team will validate the business details and the individuals involved in the business (Know Your Business process).
This is an off-chain verification process is thorough and may take some time depending on complexity - we do this to protect the integrity of the protocol. Rest assured that all your documents will be kept confidential and used solely for verification purposes
By incorporating these steps in our registration process, we ensure that the property is accurately represented on the blockchain, thereby fostering trust among all parties involved in potential transactions.
Step 6: Confirmation and Minting Process
Once your property details are verified, you will receive a confirmation email from us. This email will contain a unique verification code that you will use to initiate the minting process. The steps are as follows:
Enter Verification Code: Go back to our platform and enter the verification code that was emailed to you. This signals our system that you're ready for the minting process.
Minting Initiation: After entering your verification code, our system will make a request to the blockchain to create a DeedNFT that represents your property.
DeedNFT Transfer: The DeedNFT, once created, will be transferred to the Ethereum address you provided during registration. Congratulations! You are now the proud owner of a DeedNFT.
By following this guide, you will be able to register your property and receive a DeedNFT representing your ownership. This digital representation of your property is secure, transparent, and can be used for various purposes, like leasing. Enjoy the benefits of blockchain technology with your property ownership!
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