Smart and Effective Solutions for Resolving Land Issues in Croatia
Terra Adriatica has today launched its website www.terraadriatica.hrthrough which individuals of Croatian descent around the world can realize value from the sale of land with unclean title to which they have a valid claim. The website will provide users with an end-to-end solution by first providing the means to search online for potential rights to land that they may hold ahead of establishing clean title and eventually realizing value through its sale. This service will be offered at no upfront cost to the user.
Terra Adriatica has spent three years developing unique, Artificial Intelligence-based technology, automated processes and a deep understanding of how the law operates in order to solve a multitude of issues pertaining to Croatian land that, due to unclean title, cannot be sold and is therefore effectively worthless. The company is targeting an estimated latent value held in such land totaling anywhere between €5bn to €10bn which it hopes to release for the benefit of its owners and the wider economy.
“We founded Terra Adriatica to challenge what has long-held to be a fact in Croatia: that establishing clean title to some land is too hard, too expensive and too time-consuming to undertake”says Davor Lauc, Terra Adriatica Co-founder and Professor of Logic at Zagreb University, “..by leveraging recent and significant advances in Artificial Intelligence-based technology and Process Automation, we have developed a unique inexorable process that provides the solution to this issue.”
Aside from using technology to solve inconsistencies between multiple Croatian land registries caused by historic, political challenges, the Company is tackling the effect that mass migration has had in terms of being able to trace individuals with a valid claim who live abroad.
“Terra Adriatica is providing a solution to one of Croatia’s biggest and most persistent problems,” says Marko Buljan, Senior Associate at Sequoia Realty Services, Silicon Valley, CA, “Their platform simplifies the complex process of establishing clean title to land and will unlock tremendous opportunity for owners and real-estate investors alike. I look forward to their launch and fully support their quest to tackle what has until now been one of Croatia’s biggest roadblocks toinvestment.”
Users can start their journey with Terra Adriatica by registering via http://www.terraadriatica.hrto search for land to which they may have a valid claim. Terra Adriatica’s platform will correlate that information provided with millions of public records on the user’s behalf applying proprietary algorithms to generate a preliminary summary of land to which users may have a claim. If eligible, users can then enter into a fully transparent agreement to obtain clean title ahead of the sale of that land with all parties working together to achieve the highest possible value at sale – at no upfront cost to themselves.