How is a property legally owned?

What is the ownership structure for a property?

Each property will be legally owned by a decentralized autonomous organization (a "DAO") that is initially set up by Closin. By investing in a property and purchasing NFTs, you are purchasing an equivalent membership interest in the DAO. Additionally, you will receive a proportional number of NFTs which corresponds to your investment amount. Closin does not have any ownership interest in any property, whether directly or indirectly.

What is a DAO?

A DAO is a legal structure in which there is no centralized governing authority and instead the members actively participate in the management and decision-making for the entity. Members participate by casting votes on the blockchain, which results in all actions and decisions being recorded for all the members to view. You can learn more about DAOs and all of their benefits here.