It is essential that you engage the services of a lawyer when purchasing land or property in any country where you are not normally resident. Brazil is no exception, even though it has very strong consumer and title laws, the differences in language and terminology can result in misunderstandings that could damage your investment.
It can be vital choosing the right real estate consultant and lawyer when you are purchasing in a foreign country, such as Brazil. Ensure that your lawyer is a member of the OAB, Brazilian Bar Association, speaks your language and is experienced in transacting property for foreign purchasers.
The role of the lawyer is to guide you, the client, through your real estate purchase and offer legal advice about the transaction, possible complications that may appear and tax consequences from the procedure. The process of buying property in Brazil is straightforward if you follow the proper procedures. If all the correct documents are available the transaction can be very swift, but in many cases these documents are not immediately available and a large part of the lawyers role is to collect, question and confirm the required documents.
Obviously the legal service that you will require will be entirely dependent upon the type of property that you are purchasing. Land and older properties are more complicated in that the required documentation may be missing or out of date, this will involve your lawyer requesting and confirming the documents. In comparison off-plan properties will have their documentation in order for their recent planning applications.
The process of buying land is the same as property except that you will have a report prepared which will set out the borders and size of the land. The report will also give the urbanistic characteristics of the land stating what can be built on the land, as well as a detailed plan for inclusion in your title deeds.
Before signing the purchase contract known as the contrato de compra e venda your lawyer will have established that the property is ready for sale with the correct documentation. The contract will list all of the terms of the contract such as price, description, timescales and the date of transfer of the property to you.
With the contract signed and the deposit paid, the document is legally binding. Deposits and payment options vary wildly in Brazil especially for off plan purchases, and are often negotiated. Even on completed units or older properties, phased payments can be negotiated.
As soon as all the payments are settled you will obtain the title deeds to your property, which guarantees that the property is yours and that ownership has been transferred to your name.
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