This Terms and Conditions document, in conjunction with the “Investment Agreement” hereby, sets out the terms and conditions, which are applicable to the Investments transferred or to be transferred to BitOfProperty OÜ’s (“BitOfProperty”) internet platform, as defined below, for the purpose of making the Investment set out in these Terms and Conditions.
By registering on BitOfProperty website www.BitOfProperty.com, you confirm your agreement to be bound by these Terms and Conditions. If you do not agree to these Terms and Conditions, you cannot enter into any Investment Agreement offered by BitOfProperty on its website www.BitOfProperty.com. These Terms and Conditions expressly supersede any prior agreements or arrangements with you. BitOfProperty may immediately terminate these Terms and Conditions with respect to you, or generally cease offering or deny access to the platform or any portion thereof, at any time for any reason set forth in these Terms and Conditions.
IMPORTANT: Please review the arbitration agreement set forth below carefully, as it will require you to resolve disputes with BitOfProperty on an individual basis through final and binding arbitration. By entering into this Investment Agreement, you expressly acknowledge that you have read and understand all of the Terms and Conditions read in conjunction of this Investment Agreement and have taken time to consider the consequences of this important decision.
The contents of the Investment Agreement and these Terms and Conditions are not intended to be construed as legal, financial or tax advice. Each eligible Investor should consult with a legal, financial and/or tax advisor from their behalf. In case of doubt about the contents of the following Investment Agreement, these Terms and Conditions or subsequent action subject to be taken upon by an Investor, the Investor should consult with a person specialized in advising on the provision of investments.
Investor (name as stated on the login account on BitOfProperty website www.BitOfProperty.com)
and BitOfProperty OÜ (registry code: 12844051)
Principal investment terms: The Terms and Conditions are available below the Investment Agreement
Investment Currency: EUR
Arrangement Fee: 2-4% of the Acquisition Amount.
Secuity Arrangement Fee: EUR 300. Fee paid to the Security Agent for the provision of Security Agent services by the Security Agent under the Security Agent Agreement, plus notary and state fees for setting up the Security to secure the interests of Investors.
Administration Fee: 10% of the administrative costs related to each real estate property acquired and managed by the SPV.
Success Fee: 15% of the Investment capital gain. Success Fee is paid to BitOfProperty OÜ at the exit.
In case of real estate property in Estonia: Estonian private limited company LMP Security Agent OÜ (registry code 14461928, address Soola tn 8, Tartu, 51013, Estonia) established and solely owned by Advokaadibüroo LMP OÜ (registry code: 12045166).
Management Board: The management board members overseeing the Investment Agreement are representatives of BitOfProperty OÜ.
Shareholders: 100% shares must be owned by BitOfProperty OÜ.
Upon the commencement of the funding target shown in the relevant Investment on BitOfProperty portal, the Investment Agreement between the Investor and BitOfProperty shall be transferred over to a Special Purpose Vehicle (“SPV”), which assumes the investment obligations described in these Terms and Conditions. Subsequently, the Investment Agreement herein shall remain in force in its entirety between the Investor and the SPV, whereas SPV shall be the owner of the property the Investor has given consent to invest into under this Investment Agreement and Terms and Conditions. BitOfProperty continues to provide its services as the Portal Operator to the Investor and SPV through its website www.BitOfProperty.com.
Applicable Terms and Conditions: The Terms and Conditions below are applied to each Investment. In addition, the Terms and Conditions set out in the Investment Request apply to provision and disbursement of the Investment.
Inconsistencies: In the event of any inconsistency between the provisions of the Investment Agreement and these Terms and Conditions, the Investment Agreement shall prevail.
Binding consent treated as a signature given by the Investor by registering and identifying oneself on the BitOfProperty website www.BitOfProperty.com, subsequently by ‘ticking the box’ indicating the agreement to comply with the Terms and Conditions hereby.
Terms and Conditions
Unless the context and the law provide otherwise, the rules and principles described in this section (Interpretation and definitions) shall be used in the interpretation of the Investment Agreement and these Terms and Conditions, as well as other information published via BitOfProperty.
These BitOfProperty Terms and Conditions regulate the terms and conditions of the use of applications and functional units located on a public computer network at address www.bitofproperty.com and its sub-pages or at web pages within the same administrative domain ('BitOfProperty' or 'portal'), including rights and obligations related to the use of BitOfProperty by a person having expressed the wish to become the Investor. Inter alia, the relevant rights and obligations comprise the rules that apply to the interrelations of the Investors as between themselves as well as their relationship with the Portal Operator and with the Security Agent.
The aim of BitOfProperty is to enable the Investors to use its technical solutions by the means of joint venture investments for the purposes of co-funding the acquisition of real estate on the principle of crowdinvesting through a blockchain platform. In order to contribute in the joint venture, the Investor wishing to invest must enter into an Investment Agreement, in accordance with the procedure established in these Terms and Conditions. The relevant Investment Agreement constitutes a separate agreement between the Portal Operator and the Investor for the purposes of investment capital available for contribution, under the rights and obligations of which are performed, inter alia, with the specifications and restrictions based on these Terms and Conditions. These Terms and Conditions are considered as an investment agreement for the purposes of real estate crowdinvesting.
BitOfProperty cooperates with Investors who have registered as Investors of the portal. The Investor fee for participation in the crowdinvesting offered by BitOfProperty is included in fees indicated in section 14.