Legal & Compliance Statement
Important information about Proptic's services, limitations, and your obligations
Proptic is an online property listings and co-ownership facilitation platform. We provide digital tools that allow property owners, real estate agents, and developers to advertise opportunities to sell direct property interests including Tenants-in-Common (TIC) shares. All transactions listed on Proptic relate to direct legal interests in real property only, not to securities, financial products, or managed investment schemes.
Proptic is not a financial services business and does not hold an Australian Financial Services Licence (AFSL).Proptic does not offer financial products, credit products, investment opportunities, or market trading facilities.
The platform includes tools such as secure Deal Rooms, a Professional Directory, a Governance Centre, an Ownership Wizard, Property Management tools, and AI-assisted features. These are provided as information and coordination tools only. None of these features constitute legal, financial, or property advice.
Proptic provides:
- Online listing tools for property owners or their authorised agents
- Secure deal rooms for private negotiation between parties
- Document-sharing and data-room facilities
- Introductions to independent licensed professionals including conveyancers, lawyers, brokers and valuers
- Access to standardised co-ownership documentation drafted and supplied by external legal practitioners
Proptic does NOT:
- Provide financial advice or investment advice
- Arrange or negotiate financial products
- Operate a secondary market, exchange, or trading platform
- Manage property or funds on behalf of users
- Pool investor money or coordinate group investment decisions
- Hold client funds, deposits, or trust money
All negotiations, contracts, deposits, and settlements are conducted privately between buyers and sellers, with all funds processed exclusively through qualified conveyancers, lawyers, or trust-account holders.
All information provided on Proptic is general in nature and does not take into account your personal objectives, financial situation, or needs.
Nothing on the platform should be interpreted as:
- Legal advice
- Investment or financial advice
- Tax or accounting advice
- A recommendation or endorsement of a property or co-ownership structure
Users must obtain their own independent legal, financial, and taxation advice before entering into any form of property co-ownership.
Buying a TIC share involves direct legal ownership of part of a property. Risks include:
- The need for unanimous or majority decisions as set out in the co-ownership agreement
- Liquidity limitations—there is no guarantee of resale
- Responsibility for your proportion of rates, repairs, liabilities and outgoings
- Potential disputes between co-owners
- Exposure to changes in property value and market conditions
- Personal liability for breach of the co-ownership deed
A TIC interest is not a passive investment or financial product. It involves personal obligations and decision-making by all co-owners.
Proptic is not an issuer, operator, manager, or promoter of a managed investment scheme. Each listing involves a private sale of a direct property interest where buyers retain full day-to-day control rights as provided under the Property Law Act and the co-ownership deed.
No pooling of funds, joint enterprise, or collective management exists on the platform.
Proptic is not a "financial market" under Chapter 7 of the Corporations Act.
The platform does not:
- Run an order book
- Match buyers and sellers
- Provide automated pricing or liquidity
- Facilitate trading of financial products
Proptic is an advertising and facilitation service only.
All legal, financial, conveyancing, valuation, and brokerage services accessed through Proptic are provided by independent third-party professionals who hold their own licences and professional indemnity insurance.
Proptic does not receive commissions for referrals unless disclosed and permitted under applicable consumer laws.
Proptic disclaims all liability arising from:
- Negotiation between users
- The terms of any co-ownership arrangement
- The accuracy of user-supplied information
- Property performance or valuation outcomes
Use of the platform is at your own risk and subject to the Proptic Terms of Use.
1. Direct Property Interest Disclosure
Each listing on Proptic represents a direct legal share of real property held as Tenants-in-Common. Purchasers will receive a title-registered ownership percentage in the property described.
This is not a share, unit, token, financial product, or managed investment scheme interest.
2. Seller Identity Declaration
All sellers must be:
- The current registered property owner, or
- An authorised real estate agent, or
- A property developer offering direct title interests upon completion
Sellers warrant that they have full legal authority to offer the interest for sale.
3. Independent Legal & Financial Advice Requirement
Before participating in any TIC arrangement, buyers and sellers must obtain their own:
- Legal advice
- Financial and tax advice
- Conveyancing advice
Proptic does not provide any advice of any kind.
4. No Guarantee of Resale or Liquidity
TIC interests are not liquid assets. There is no guarantee that a buyer will be able to resell their share, or that a secondary buyer will be available through the platform or privately.
5. No Financial Return Representations
Listings must not:
- Imply guaranteed income
- Reference investment returns
- Compare TIC ownership to securities or investment products
- Include yield, dividend, ROI, or profitability claims
Any breach will result in immediate removal of the listing.
6. Co-Ownership Agreement Requirement
All TIC transactions must include a legally drafted Co-Ownership (TIC) Deed, specifying:
- Decision-making rules
- Maintenance responsibilities
- Dispute resolution processes
- Exit conditions
- Cost-sharing obligations
- Rights of first refusal
- Usage and access rights (if applicable)
Proptic does not provide this document. It must be drafted or supplied by a qualified Australian legal practitioner.
7. Mandatory Professional Conveyancing
Settlement must be completed through:
- A licensed conveyancer, or
- A legal practitioner authorised to hold trust money
Proptic does not handle deposits, funds, or settlement payments.
8. Accuracy of Listing Information
All listing information is provided by the seller. Proptic does not warrant:
- Accuracy
- Completeness
- Current condition of the property
- Zoning, approvals, or compliance
Buyers must perform their own due diligence.
9. No Agency Relationship Created
Proptic is not:
- An agent of the buyer or seller
- A broker
- A representative
- A financial intermediary
The relationship formed is strictly that of platform provider to user.
10. Prohibition on Collective Investment Structures
The following are strictly prohibited on Proptic:
- Fractional offers where buyers pool funds to acquire a new property
- Passive investment opportunities promising "returns"
- Coordinated group purchases
- "Buy-to-rent" pooled schemes
- Syndicate structures
Only direct title transfer of existing or newly created TIC shares is permitted.
