Articles
Newsletter
Home 
Finance Real Estate The Lawyers role in Brazilian Real Estate Purchases, part 1.
Finance Real Estate The Lawyers role in Brazilian Real Estate Purchases, part 1.
| The Lawyers role in Brazilian Real Estate Purchases, part 1. |
 |
 |
 |
| Written by Ginny Naish |
| Monday, 05 October 2009 09:36 |
|
It is essential that you engage the services of a lawyer when purchasing land or property in any country where you are not normally resident. Brazil is no exception, even though it has very strong consumer and title laws, the differences in language and terminology can result in misunderstandings that could damage your investment. It can be vital choosing the right real estate consultant and lawyer when you are purchasing in a foreign country, such as Brazil. Ensure that your lawyer is a member of the OAB, Brazilian Bar Association, speaks your language and is experienced in transacting property for foreign purchasers. The role of the lawyer is to guide you, the client, through your real estate purchase and offer legal advice about the transaction, possible complications that may appear and tax consequences from the procedure. The process of buying property in Brazil is straightforward if you follow the proper procedures. If all the correct documents are available the transaction can be very swift, but in many cases these documents are not immediately available and a large part of the lawyers role is to collect, question and confirm the required documents. The above services are generic because different types of property will require a different type of due diligence investigation. An off plan apartment will be fairly easy to check with regard to documentation as the majority of the documents required will have been prepared by the constructor as part of the planning permission process. If the property you are purchasing is a country or beach property then a far more detailed investigation must be made, with an historical ownership record to ensure that your ownership will not be challenged in the future and that the person selling is authorised to do so. When purchasing land lots it is essential that you have a report carried out which will include a topographical study, which will state the exact size of the land and the location of its borders. The report will also investigate the planning status of the land, showing you what can be built, and will also provide a detailed plan, for inclusion in your title deed. Before signing the purchase contract known as the contrato de compra e venda your lawyer will have established that the property is ready for sale with the correct documentation. The contract will list all of the terms of the contract such as price, description, timescales and the date of transfer of the property to you. With the contrato de compra e venda signed by both parties and with the deposit paid, the contract becomes a legally binding document. The amount payable as deposit at this stage and the structure of payments until completion varies, particularly in the case of off plan property purchase as different developers offer different payment schedules and incentives. When all of the payments are complete and the appropriate transfer taxes are paid, you will receive title to the property, ensuring your full legal ownership. About the Author: This article was written by Ginny Naish the Marketing Director of Property Dreams Brazil, a real estate consultancy based in Joao Pessoa, Paraiba. Property Dreams Brazil can provide consultancy services with regard to real estate investment , land, re-location and property marketing. Please visit Property Dreams Brazil for additional information. Kindly provided by LJ-Marketing.dk You are welcome to use this article on your own website, if you include the link just before this text. |
Stumble It!
Members : 1254
Content : 2297
Web Links : 1
Content View Hits : 311034
Content : 2297
Web Links : 1
Content View Hits : 311034