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The Something Awful Forums > Discussion > Video Games > The Emperor's $10,000 Clothes Receipt: NFTs, Blockchain, and Web3 In Gaming
 
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kw0134
Apr 19, 2003

I buy feet pics🍆

Deltasquid posted:

(I'm not American but I understand American real estate conveyance is not registered with a public notary but by private companies?)
In every state (haven't looked into the territories; American Samoa has different rules I believe) there is going to be a local register for various records, with whom you file the deed showing the conveyance of the property from the seller to the purchaser, along with the terms of that transaction. You may or may not have a finalized transaction until it's registered, but for all intents and purposes it's not really a done deal until you pay the filing fee and hand it to the clerk who notes that plot 345135 on the county plat book has been sold/leased/seized/judicially vacated/etc. You have private parties who can verify that the chain of possession is good and that the seller has a valid right to sell, there are no other claims, and it is unlikely that you will be challenged in your ownership from a past claimant (title search and insurance). All of this is by definition public; I can go in and ask to see who owns 123 Main St, Anywhere, US, and trace that line back to the original grant by government, and that's how real estate attorneys do their job. It's not centralized at all, every locality has different registers, but that's the nature of the federal form of government, but it's still a governmental function.

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The Something Awful Forums > Discussion > Video Games > The Emperor's $10,000 Clothes Receipt: NFTs, Blockchain, and Web3 In Gaming