Redemption Overview
Redemption is the procedure for exercising the right under the certificate.
10. Redemption
Redemption is not guaranteed for every holder. It is subject to KYC/AML, sanctions screening, legal eligibility, applicable land-ownership restrictions, Georgian registry procedures, required documents, and completion of the required execution steps.
- 01Holder initiates redemption
- 02The certificate is mandatorily locked during the review and off-chain execution period
- 03Holder completes KYC/AML
- 04Sanctions screening is conducted
- 05Holder's legal eligibility is reviewed
- 06Applicability of the chosen execution mechanism to the specific parcel is checked
- 07Final execution takes place in Georgia by the holder or their legally authorized representative
- 08If direct title re-registration is permissible, title transfer proceeds through Georgian legal/registry infrastructure
- 09After execution, the certificate may be burned/closed
- 10If execution is not possible, refusal, delay, unlock, or an alternative lawful mechanism applies, if provided for and permissible
Mandatory Redemption Lock
The redemption lock is a mandatory architectural element. Once a holder initiates redemption, the ERC-721 certificate must be moved to a non-transferable/locked state until the procedure is complete.
Purpose: prevent sale/transfer during KYC/AML; eliminate mismatch between on-chain holder and off-chain applicant; protect lawyers, notary, SPV, and the NAPR process from a mismatch between prepared documents and actual token holder; maintain a single status ledger for compliance, legal execution, and smart contract state.
No redemption workflow may proceed unless the relevant ERC-721 certificate is locked against transfer for the duration of KYC/AML, legal review, registry preparation, and completion or rejection of the redemption request.
Physical Execution
Final title transfer requires physical execution in Georgia by the holder or their legally authorized representative.
This may practically involve: personal presence of the holder in Georgia; House of Justice / NAPR; an authorized Georgian notary; passport documents; corporate documents if the holder is a legal entity; a notarized power of attorney; apostille/legalization; certified translation into Georgian; registration fees.
11. Redemption Expenses
All variable third-party costs of redemption and title transfer are borne by the holder: government fees; NAPR/registry fees; notary services; certified translations; apostille/legalization; local legal counsel; KYC/AML provider fee if billed separately; travel and lodging; power-of-attorney representative costs; costs of a corporate execution mechanism if applicable.
AIA CORE provides: redemption readiness, process coordination, document readiness, platform infrastructure, procedure support, and basic structural preparation.
The holder bears all variable third-party and government costs related to redemption and title transfer. AIA CORE provides coordination, document readiness, platform infrastructure, and redemption process support, but does not subsidize registry, notary, translation, travel, legal, or KYC provider costs unless expressly stated in transaction documents.