| 1. |
After the Negotiation of
payment conditions, time schedule for the public deed
and eventual acquisition of the inventory , a promise of
sale contract ( Contrato de Promessa de Compra e
Venda ) , that should be elaborated by a solicitor
or a lawyer, can be signed .
Already during the
negotiation process the owner should present the
following documents / information: |
| |
a. |
The registration documents of the property, which have
to prove that the property is free of debts (mortgage
etc.). |
| |
b. |
A living permit issued by the county, that is required
for houses or apartments constructed after 1951. |
| |
c. |
Is the Property rented? In this case the tenant has the
right of purchase. |
| |
d. |
In case of an agriculture plot (rústico) the neighbours
have the right of purchase. |
| 2. |
Before signing the public
deed (Escritura) the buyer has to pay the
transmission tax
(IMT)
The basis for the
calculation of this tax is the sales price, that will be
mentioned in the public deed.
Plots are taxed between 5%
- 6.% , that has to be paid to the finance office.
Houses and apartments are
taxed on a scheduled basis. The percentage amounts are
established by the government every year. |
| 3. |
Within the combined time
period of the promise of sale contract, the public deed
will be signed by the contract partners. After signing
the public deed the object is legally owned by the
buyer. |
| 4. |
The last step is the
registration of ownership. This registration needs to be
requested by a solicitor or the real estate company who
has mediated the sale it doesn’t happen automatically! |
