TIME SHARING: A LEGALLY EFFICIENT AND SECURE MODEL FOR TOKENIZATION OF ASSETS REPRESENTING FRACTIONS OF REAL ESTATE IN BRAZIL

The real estate market plays an important role in the circulation of wealth in any nation. As a result, any innovation that brings advances in this sector, whether by reducing bureaucracy in processes or reducing costs, is meritorious. In this aspect, the tokenization of real estate assets brings good prospects n enabling a continuous and sustainable business in this market. It so happens that the way in which this innovative process has been operationalized in Brazil, albeit in an incipient way, brings a series of legal weaknesses that can compromise the success of this very promising mechanism. It is argued in this work that, despite the commendable improvements promoted by the intervention of the Internal Affairs Department of the Court of the State of Rio Grande do Sul, providing for the form of registration of the process in land registry offices, there is a more effective legal instrument present in Brazilian legislation, which will add greater legal certainty to the parties involved in this contracting. This is, by the way, the multi-ownership institute, regulated by Law No. 13,777, of December 20, 2018, which promoted changes in the Civil Code and in the Public Records Law, Law No. 6.015, of December 31, 1973, with a view to disciplining the practice of Time Sharing in Brazil. Mechanism inspired by North American law.