NEW UBITQUITY® USE CASES: Certain interests that don’t get recorded in the public records could be recorded on a blockchain.
A special thank you to Mr. Dave Armstrong for the helpful use case suggestions and to Mr. Wes Williams, ESQ., (Ubitquity advisor) for the valuable insights.
- A searchable compilation of non-possessory real property interests such as pipeline and utility easements¹, with additional values for the qualitative impact on the servient estate owner would be invaluable (ranging from “permission to dig required” to complete proscription of surface modification). As with the railway system in the U.S., dealing with old infrastructure easements often requires significant time to establish ownership, abandonment or physical confirmation of non-use of the easement, waivers, etc., sufficient for a title company to insure over the risk.
- Establishing values in the context of utility relocations might also be of value. When a governmental entity, e.g., moves a road, distribution of the relocation costs comes into sharp relief. Associating contractual arrangements concurrent with infrastructure development could reduce the cost of future controversies.
- On a related issue, mineral interests are often severed from the surface estate, then leased, traded or simply absorbed in M&A (Mergers and Acquisitions) transactions without evidence of a change in ownership appearing in the public record. Perhaps the market for air rights could also be managed on your platform.
¹ utility easements and the like do get recorded. In certain areas of the country though, records aren’t always good. Particularly when rights get severed; i.e. when one conveys mineral interests.
Check out our other Use Case examples.
Have some of your own? Shoot us an email. We’d love to hear from you!
— Team Ubitquity