(English) Real Estate Acquisition – Cautions Required

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The acquisition of a property must be carefully performed in order to protect the buyer from potential problems that may cause him financial prejudice and psychological frustrations. Thus, it is important to conduct some research beforehand and have specific documents in order to mitigate risks, ensuring the purchase is a safe and satisfactory legal operation.

Under brazilian law, the buyer and the seller must attend a legal clerk (notary) and require the drafting of a Deed of Sale in order to achieve a real estate transfer.After the issuance of such Act, the buyer must proceed to its registration before the competent Property Registration notary.

At this point, it is important to highlight that the transfer of ownership will only be opposable against third parties after registration of the Deed of Sale at the Property Registration notary.

Nevertheless, even before the issuance of the Deed of Sale by the Notary, it is important to certify that there is no legal obstacle concerning the property. That can only be achieved after a careful analysis of the documents concerning the property itself as well as the seller’s personal situation.

Such analysis must certify that (a) that the property does not have legal obstacles preventing its sale, (b) there is no tax debt over the property, (c) the landlord has no significant debts or respond to any dangerous lawsuit that could represent a risk to the real estate transaction. Thus, such disputes are likely to discourage the acquisition of property or even give rise to further questions about the validity of the transaction to be concluded between the parties.

The potential buyer should seek professional legal assistance in order to avoid problems during the whole procedure and even after the acquisition of the property.

For further clarification or legal assistance in Real Estate matters, our lawyers from the Chenut Oliveira Santiago Law Firm (www.chenut.online) are at your disposal.

[1] Lawyer specialized in Real Estate and Corporate Law, member of Chenut Oliveira Santiago Law Firm (www.chenut.online).

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