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Real estate due diligence in Portugal refers to the process of thoroughly investigating a property before purchasing it. This includes reviewing legal documents, inspecting the property, and researching any potential issues or red flags. It is important to conduct due diligence to ensure that the property is in good condition and that there are no hidden problems or liabilities. A lawyer or real estate agent with experience in the Portuguese market can assist with the due diligence process.
A property lawyer in Portugal, also known as a real estate lawyer, is a legal professional who specializes in helping clients navigate the legal aspects of buying, selling, and owning property in Portugal. They can assist with tasks such as reviewing and drafting purchase and sale agreements, conducting due diligence, and handling the transfer of ownership. It's highly recommendable to hire one, since the Portuguese property laws can be complex and the process of buying a property in Portugal may be different than in other countries. They can also advise on local taxes and regulations that may apply to the property.
The steps to buy a house in Portugal generally include the following:
Note: The steps and process may vary depending on the specific property and circumstances, and it's advisable to seek the assistance of a property lawyer who can guide you through the process.
Buying a house in Portugal can be a complex process, especially for foreign buyers who may be unfamiliar with the local laws and regulations. Here are some key things to keep in mind when buying a house in Portugal:
It's important to note that the process of buying a house in Portugal may be different than in other countries, and it's advisable to seek the assistance of a property lawyer who can guide you through the process.
If you are thinking of buying or selling a house, this article is for you. If you are selling or buying a house, you have to meet several legal requirements. Through the various government offices, you could get the missing documents for the day of the deed.
With the help of your lawyer, the whole burucratic process becomes easier. See here all the steps to take for the realization of a deed.
First off all, you will need a tax number, and for that a lawyer to do that. After you have your portuguese tax number, you need to open a banck account in Portugal. Once this is over, you could proced for the preparation of the deed. For the preparation of the deed you will need a several of documents, if you are the seller side.
The public deed is the moment when you pay taxes if you are the buyer or give the keys and propriety if you are the seller and its made by a notary , lawyer or a solicitor.
In Portugal, public deeds are usually executed by a notary public (notário público). The notary must be registered with the Portuguese Bar Association (Ordem dos Advogados) and have a professional liability insurance policy.
The notary will first check that the parties have the legal capacity to enter into the contract. This means that they must be of legal age and have the mental capacity to understand the contract's terms and conditions.
The notary will also ensure that the contract complies with Portuguese law and that there are no legal restrictions on its execution.
Once the notary is satisfied, the parties will sign the contract in front of him or her. The notary will then certify the signatures and issue a certificate of execution (certificado de execução).
The contract will be registered in the Central Registry of Deeds and Documents (Registo Central de Atos e Documentos). This is a public database that anyone can access.
The registration fee must be paid before the deed can be registered. The fee is based on the contract's value. Once the deed is registered, it is legally binding on the parties. The contract can be enforced by the courts if either party breaches its terms.
A valid ID document, such as a passport or ID card, for each party
If the parties are married, they may have to provide their marriage certificate
If the contract involves the sale of property, the parties must provide proof of ownership, such as a title deed
If the contract is for the provision of services, the parties must provide a description of the services to be provided
Public deeds are typically used for contracts that involve the sale of property, the transfer of ownership of a company, or the provision of services.
They can also be used to execute wills and trusts and to record Powers of Attorney.
The main advantage of using a public deed is that it creates a legal record of the contract. This can be helpful if there is ever a dispute between the parties.
Another advantage is that public deeds are typically executed by notaries, who are impartial third parties. This can give the parties more confidence that the contract will be executed properly.
Talk to a Commercial Law and Public Deed Lawyer in Portugal
If you are entering into a contract that will be executed as a public deed, it is important to understand the rules and procedures that apply. A lawyer with experience in commercial law and public deeds can advise you on the best way to execute your contract and protect your interests.
Clara Silva Costa Lawyers is an English-speaking law firm based in Lisbon, Portugal. We can help you with all aspects of commercial law and public deeds, from drafting the contract to registering the deed.
Contact us today to schedule a consultation with one of our lawyers.