Terms of Service

1. About Proptic

Proptic Pty Ltd (ABN: XX XXX XXX XXX) ("Proptic", "we", "us", "our") operates an online marketplace platform that connects buyers and sellers of Tenants in Common (TIC) property shares in Australia. Our platform is accessible at proptic.com.au and related applications.

Proptic provides comprehensive digital infrastructure for TIC co-ownership — including property listings, Deal Rooms for transaction coordination, TIC partner matching, ownership structure modelling, governance tools, AI-powered property analysis, and portfolio management. The platform is designed to be used alongside licensed legal and financial professionals who handle formal advice, contracts, and financial settlements.

Proptic does not:

• Provide personal financial, legal, investment, or property advice
• Hold, process, or transfer money, deposits, or settlement funds
• Draft or execute legally binding contracts or TIC deeds
• Act as a real estate agent, financial advisor, or broker
• Guarantee or warrant the accuracy of user-supplied listing information
• Operate a financial market, exchange, or managed investment scheme

2. Acceptance of Terms

By accessing or using Proptic, you agree to be bound by these Terms of Service and our Privacy Policy. If you do not agree, you must not use our platform. We may update these terms at any time, and continued use constitutes acceptance of any changes.

3. Eligibility

To use Proptic, you must:

• Be at least 18 years of age
• Be an Australian resident or have a valid Australian address
• Provide accurate and complete registration information
• Complete identity verification (KYC) to access certain features
• Not be prohibited from using our services under applicable law

4. Account Responsibilities

You are responsible for:

• Maintaining the confidentiality of your account credentials
• All activities that occur under your account
• Ensuring all information you provide is accurate and current
• Notifying us immediately of any unauthorized access

5. Listing Services

5.1 For Sellers

When creating a listing, you represent and warrant that:

• You are the legal owner of the property share being listed
• You have the right to sell or transfer your share
• All information provided is accurate to the best of your knowledge
• Any documents uploaded are genuine and unaltered

5.2 For Buyers

When using Proptic to find listings, you acknowledge that:

• All listing information is provided by sellers, not verified by Proptic
• You must conduct independent due diligence before any transaction
• You should engage qualified professionals (lawyers, conveyancers) for transactions
• Proptic makes no representations about property values or suitability

6. Transactions & Settlement

Proptic's Deal Rooms and coordination tools support the non-financial aspects of TIC transactions. However, the legal and financial execution of any transaction must be conducted by licensed professionals:

• TIC agreements and contracts of sale must be drafted by a licensed Australian legal practitioner
• All funds, deposits, and settlement payments must be processed through a licensed conveyancer or legal practitioner holding trust money
• Title registration must be completed through PEXA or a licensed conveyancer
• Independent legal and financial advice must be obtained before signing any agreement

Proptic facilitates coordination and communication between parties but is not a party to any transaction and accepts no responsibility for the outcome of any transaction conducted through connections made on the platform.

7. Prohibited Activities

You must not:

• Provide false, misleading, or fraudulent information
• List properties you do not legally own or have authority to sell
• Use the platform for money laundering or illegal activities
• Harass, abuse, or threaten other users
• Scrape, copy, or reproduce platform content without permission
• Attempt to circumvent security measures or access restricted areas
• Use automated systems to access the platform without authorization

8. Verification Services

We offer identity verification (KYC) and title document review services. These are designed to increase trust in the marketplace but:

• Do not constitute legal verification of ownership or identity
• Do not replace professional due diligence
• Do not guarantee the accuracy of any information
• Should not be relied upon as the sole basis for any decision

9. Fees and Payments

Basic listing and browsing services are free. We may offer optional premium features for enhanced visibility. We do not charge transaction fees or commissions on any property sales, as we do not facilitate transactions.

10. Intellectual Property

All content on Proptic, including text, graphics, logos, and software, is owned by Proptic or our licensors and protected by Australian intellectual property laws. User-submitted content remains the property of the submitting user, but you grant us a licence to display it on the platform.

11. Disclaimers

THE PLATFORM IS PROVIDED "AS IS" WITHOUT WARRANTIES OF ANY KIND. We disclaim all warranties, express or implied, including:

• Merchantability or fitness for a particular purpose
• Accuracy, reliability, or completeness of any content
• Uninterrupted or error-free operation
• Security from unauthorized access

12. Limitation of Liability

To the maximum extent permitted by law, Proptic and its directors, employees, and agents will not be liable for any indirect, incidental, special, consequential, or punitive damages arising from your use of the platform or any transaction resulting from connections made through it.

13. Indemnification

You agree to indemnify and hold harmless Proptic and its affiliates from any claims, damages, losses, or expenses arising from your use of the platform, violation of these terms, or infringement of any third-party rights.

14. Termination

We may suspend or terminate your account at any time for violation of these terms or for any other reason at our discretion. You may close your account at any time by contacting support.

15. Governing Law

These Terms are governed by the laws of New South Wales, Australia. Any disputes will be resolved in the courts of New South Wales.

16. Contact

For questions about these Terms, contact us at:
Email: legal@proptic.com.au
Address: Sydney, NSW, Australia