Specific Steps in buying a property

The first step when buying a property in Brazil will be to sign a reservation agreement and then a promissory contract, both of which should be checked by your independent lawyer as they are binding and when registered at the Registration Offices they give you real rights over the property. A non refundable deposit is usually requested at this point.

After the promissory contract is signed and all the obligations of the parts complied, the deed can be signed at the Notary.

The acquisition of a real estate property in Brazil due to inter vivos transactions are generally agreed between the purchaser and the seller by means of a sale agreement, which details the full conditions of the sale and also acts as a receipt for the deposit paid. This is signed before a notary public by both parties. It is common for foreigner buyers to be represented at the Notary, in this case a Power of Attorney shall be provided in order to grant the necessary powers to the local representative to conclude the completion procedures.

Ownership of real estate property in Brazil is constituted upon the registration of the deed of sale at the appropriate Real Estate Registry of the location where the property is situated and registered. If the deed is not registered it will only be binding between those parties to the contract and will not be enforceable against third parties.

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