Áreas de Atuação

We hereby present some guidance to foreigners who are willing to invest in Brazil.

BUYING REAL ESTATE PROPERTIES

The purchase of Real Estate in Brazil is a unique and important event, which we strongly suggest be closely followed by a lawyer from the real estate area. One can never be too careful when buying real estate property.

Firstly, the property register situation must be checked, as well as the fiscal and legal situation of the owner(s). It’s needless to say that it’s crucial to check whether there are pending taxes, labor or legal debts over the owner(s) or the property itself.

In Brazil, there is an institute known as “Fraud and Execution” that prohibits the sale of any property, in case its owner does not own any other property to pay off a debt. The trouble is that Justice many times does not determine the register of the ongoing lawsuit in the Notary, and the buyer will only be aware of such fact after the purchase, which will be annulled by the Justice. For this reason, due diligence is fundamental to avoid future problems.

Beach-front properties must be identified with the Union’s Property Department, and it’s advisable to be aware of how much of the property belongs to the Navy. Foreigners present with some restrictions to acquire rural properties, according to Law 5. 709/71, which regulates this type of acquisition.

All transactions must be regulated by contracts and closed with the preparation of a title deed, which must be registered at a Notary.

Mychelle Maciel Advogados is a renowned Real Estate Law Firm, and is endowed with a thorough structure to assist legally all the purchase and sale process.