Table of Contents
Proof of Ownership (PoW) Official FAQ
1. Eligibility & Scope
In which countries does Peoples Reserve operate? We currently operate in the United States only.
What is the Proof of Ownership (PoW) process? Proof of Ownership is the essential verification protocol used by Peoples Reserve to confirm legal property interest. This process validates the property’s legal status and existing equity before it can be cleared for RWA (Real World Asset) Property Claims or Property Refinancing.
Why is PoW mandatory for RWA Property Claims? For RWA claims, PoW serves as a comprehensive audit to ensure the asset is 100% unencumbered meaning it is free of mortgages, liens, or legal judgments. This protects the ecosystem's reserves and establishes your reward rate based on the verified Tax Assessed Value.
Why is PoW mandatory for Property Refinancing? For refinancing, PoW is used to calculate your "Transformed Home Equity." This establishes the precise payoff amount for your current traditional mortgage and determines the Loan-to-Value (LTV) ratio available for a Self-Repaying Mortgage (SRM) or Bitcoin Mortgage (BMR).
2. Documentation & Requirements
What are the mandatory documents for a PoW application? To complete your application, the following documentation is required:
- Recorded Property Deed: A copy showing your name as the legal title holder, including the full legal description of the property.
- Homeowner’s Insurance: A valid Declarations Page (Dec Page) confirming the policy is active, listing coverage limits, and matching the property address.
- Property Tax Statement: The most recent official statement showing the Tax Assessed Value (TAV) and the names of the legal owners.
How are properties with multiple owners handled? If the property title lists more than one individual, the following additional steps are required:
- Identity Verification (IDV): All secondary owners must complete a standard IDV check, including a government-issued ID and a "verification selfie" with a handwritten note.
- Multiple Ownership Release Form: A signed legal authorization confirming that all listed owners consent to the property's participation in the Peoples Reserve ecosystem.
Which supplemental documents can expedite my application? While not strictly required, providing the following can significantly decrease processing times:
- Closing Disclosures or HUD-1 settlement statements.
- Current Title Insurance Policies.
- Recent utility statements (water, electric, or gas).
- Probate or Trust documentation (if the property is held within a legal trust).
- Certified land surveys or Plat maps.
3. Ownership, Security & Legal Structure
Will I retain legal title to my home during an RWA Claim? Yes. An RWA Property Claim is considered a "non-lending event." Because you are not borrowing funds, no liens are recorded against your property, and you maintain the deed and full legal title at all times.
How is asset security managed during a Property Refinance? In a refinance, the property is "sold" to TruFi and subsequently financed back to you. To eliminate traditional banking risks, your collateral is held in a protected, bankruptcy-remote Special Purpose Vehicle (SPV), with digital collateral secured via BitGo.
4. The Submission Process
How do I submit my PoW documentation? You may access the application via your Peoples Reserve account. Navigate to the "Marketplace" and select "Waiting for Docs" on your property dashboard, or select "Proof of Ownership" directly from the sidebar navigation menu.
Can I modify my application after it has been submitted? No. Once an application is submitted for review, it cannot be modified or viewed. You will be notified of the application status (Approval or Rejection) via your registered email address.