Real Property Tokens (RPTs) are the confirmation of the purchase of real property shares and a preliminary contract for the shares of the company that will own the real property.
RPTs are exchangeable for shares in the Special Purpose Vehicle (SPV) established for the purchased property. Each investor who wants to perform the preliminary contract and become the official company owner will be able to do that at any moment by undergoing the appropriate procedures for taking up shares in accordance with the regulations of a given country. Once the contract has been executed, RPTs are burned.
Additionally, RPTs entitle you to receive periodic income (usually monthly or quarterly) from the property purchased in the Property Fundraising.
Moreover, RPT holders can vote on the important aspects of the purchased property.
RPTs are also used as collateral in Loan Farming Protocol.
Users will be able to trade their RPTs on the internal secondary market on the Terra Land Platform.