Terms of Service

1. Acceptance of Terms

Welcome to Bhavan.ai. By accessing or using our website, platform, or services, you agree to be bound by these Terms of Service ("Terms"). If you do not agree to these Terms, please do not use our services.

These Terms constitute a legally binding agreement between you and Bhavan.ai ("we," "our," or "us"). We reserve the right to modify these Terms at any time, and your continued use of our services constitutes acceptance of any changes.

2. Description of Services

Bhavan.ai is a platform that facilitates fractional home ownership by enabling 2-5 individuals to legally co-own residential properties through Special Purpose Vehicles (SPVs). Our services include:

• Eligibility assessment and credit verification (KYC)
• Matching compatible co-owners based on preferences and financial profiles
• Digital SPV formation and legal documentation
• Facilitation of collective down payments and NBFC financing
• Secondary marketplace for buying and selling ownership shares
• Document vault and escrow services

Bhavan.ai acts as a facilitator and technology platform. We do not provide financial advice, legal counsel, or real estate brokerage services.

3. Eligibility

To use our services, you must:

• Be at least 18 years of age
• Be a resident of India or have legal authorization to own property in India
• Provide accurate and complete information during registration
• Have the legal capacity to enter into binding contracts
• Comply with all applicable laws and regulations

We reserve the right to refuse service to anyone at our sole discretion.

4. User Accounts and Registration

To access certain features, you may need to create an account. You agree to:

• Provide accurate, current, and complete information
• Maintain and promptly update your account information
• Keep your password secure and confidential
• Notify us immediately of any unauthorized access to your account
• Accept responsibility for all activities under your account

We reserve the right to suspend or terminate accounts that violate these Terms or engage in fraudulent activity.

5. Fees and Payments

Bhavan.ai charges fees for its services, including but not limited to:

• Platform Fee: A percentage of the property value for facilitating SPV formation and matching
• Marketplace Transaction Fee: A fee for buying or selling shares on the secondary marketplace
• SPV Registration Fee: One-time fee for legal entity formation
• SPV Management Fee: Annual fee for ongoing SPV administration and compliance

All fees are clearly disclosed before you commit to any transaction. Fees are non-refundable unless otherwise stated. We reserve the right to change our fee structure with 30 days' notice.

You are responsible for all taxes associated with your use of our services.

6. SPV Formation and Co-Ownership

When you participate in fractional home ownership through Bhavan.ai:

• You will become a member of a legally formed SPV with other co-owners
• Your ownership percentage is determined by your financial contribution
• All co-owners must agree to the SPV operating agreement
• Major decisions require consensus among co-owners as per the SPV agreement
• You are jointly and severally liable for SPV obligations, including loan repayments

Bhavan.ai facilitates SPV formation but is not a party to the SPV or responsible for disputes among co-owners. We recommend consulting with legal and financial advisors before entering into co-ownership arrangements.

7. Marketplace and Share Transfers

Our secondary marketplace allows co-owners to buy and sell ownership shares. By using the marketplace:

• You agree to comply with all SPV transfer restrictions and right of first refusal provisions
• Share prices are determined by market forces and negotiations between parties
• All transfers must be approved by the SPV and comply with legal requirements
• Bhavan.ai facilitates transactions but does not guarantee liquidity or pricing
• Transaction fees apply to all marketplace activities

8. Prohibited Conduct

You agree not to:

• Provide false, misleading, or fraudulent information
• Impersonate any person or entity
• Violate any applicable laws, regulations, or third-party rights
• Interfere with or disrupt the platform's operation or security
• Use automated systems (bots, scrapers) to access the platform
• Attempt to gain unauthorized access to our systems or user accounts
• Engage in money laundering, fraud, or other illegal activities
• Harass, threaten, or abuse other users or our staff

Violation of these prohibitions may result in immediate termination of your account and legal action.

9. Intellectual Property

All content on the Bhavan.ai platform, including text, graphics, logos, software, and trademarks, is owned by or licensed to Bhavan.ai and protected by intellectual property laws.

You may not copy, modify, distribute, sell, or exploit any content without our express written permission. Limited use for personal, non-commercial purposes is permitted.

10. Disclaimers and Limitations of Liability

No Warranties: Our services are provided "as is" and "as available" without warranties of any kind, express or implied. We do not guarantee uninterrupted, error-free, or secure access to our platform.

Investment Risk: Real estate investments carry inherent risks, including loss of capital, market fluctuations, and illiquidity. Past performance does not guarantee future results. You are solely responsible for your investment decisions.

No Financial or Legal Advice: Bhavan.ai does not provide financial, legal, or tax advice. Consult with qualified professionals before making investment decisions.

Limitation of Liability: To the maximum extent permitted by law, Bhavan.ai and its affiliates, officers, employees, and agents shall not be liable for any indirect, incidental, special, consequential, or punitive damages arising from your use of our services, even if advised of the possibility of such damages. Our total liability shall not exceed the fees you paid to us in the 12 months preceding the claim.

11. Indemnification

You agree to indemnify, defend, and hold harmless Bhavan.ai and its affiliates from any claims, liabilities, damages, losses, and expenses (including legal fees) arising from your use of our services, violation of these Terms, or infringement of any third-party rights.

12. Dispute Resolution and Governing Law

These Terms are governed by the laws of India. Any disputes arising from these Terms or your use of our services shall be resolved through:

1. Negotiation: Good faith discussions between the parties
2. Mediation: If negotiation fails, mediation in Bangalore, India
3. Arbitration: Binding arbitration under the Indian Arbitration and Conciliation Act, 1996, conducted in Bangalore

You agree to waive any right to a jury trial or to participate in class action lawsuits.

13. Termination

We may suspend or terminate your access to our services at any time, with or without cause or notice, including for:

• Violation of these Terms
• Fraudulent or illegal activity
• Non-payment of fees
• Inactivity for an extended period

Upon termination, your right to use our services ceases immediately. Provisions that by their nature should survive termination (including disclaimers, limitations of liability, and dispute resolution) shall remain in effect.

14. Modifications to Terms

We reserve the right to modify these Terms at any time. We will notify you of material changes by posting the updated Terms on our website and updating the "Last updated" date. Your continued use of our services after changes constitutes acceptance of the modified Terms.

15. Severability

If any provision of these Terms is found to be invalid or unenforceable, the remaining provisions shall continue in full force and effect.

16. Entire Agreement

These Terms, together with our Privacy Policy and any other agreements referenced herein, constitute the entire agreement between you and Bhavan.ai regarding your use of our services.