An American technology firm says that its artificial intelligence software is the world’s first robo-lawyer for real estate investing.
Its not only bankers that should be worried about the influx of robo-colleagues, lawyers, especially those in conveyancing, might need to keep an eye on who their firm is hiring.
Bootstrap Legal’s software automates the legal paperwork for those raising capital for real estate projects of up to $2 million, allowing real estate investors to draft their own documents using artificial intelligence.
Cheaper Faster and Better
The service can deliver documents to a customer’s email in 48 hours once a series of questions have been answered. The documents are attorney-grade and attorney-reviewed before delivery. Those who require additional help can be connected to a lawyer for individual advice.
Founder Amy Wan says that the software both undercuts the legal fees associated with real estate capital raises and expedites the process.
Wan was formerly General Counsel at Patch of Land, a real estate marketplace lending and crowdfunding platform, where she pioneered novel legal structures and advised the company on its $23 million Series A funding round.
