Land Registry in Portugal
Land Registry in PortugalUpdated on Thursday 31st January 2019
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If you purchase or own land, you must have your title recorded at the Land Registry in Portugal. Its main purpose is to gather information on the legal status of the land as well as provide protection for transactions involving it. Every activity related to property titles must be recorded in the Land Registry that has jurisdiction over the area where the property is located. You don't need to worry about locating a registry office because they are spread out across the country. Once the transaction has been recorded at the Land Registry in Portugal, it becomes binding on third persons. This means that other people have to respect your right over the property. Our lawyers in Portugal can help you with the registration process.
If there is a transaction involving the title of the property and it is not recorded, it will only bind the parties involved. This means that other people can claim rights over the property or even have the transaction voided. If it is recorded, your right over the property becomes binding to third persons and will not be interfered with. Our Portuguese lawyers will make sure that other persons cannot interfere with your rights.
Priority of rights
There will be instances when two or more persons have claims over a property. This usually happens in cases of double sales. To complicate things even more, both parties might even have registered their rights. The Portuguese Land Registry observes the principle of priority wherein whoever has recorded his/her rights first has a better claim over the property than the one who came after. Have your rights recorded right away through our attorneys in Portugal.
Validity of records
When there is an application for registration, all the facts surrounding the property are carefully checked. The applicable laws are considered, documents are verified, and previous entries concerning the property are noted. The identity of the owner is also checked, as well as that of the parties, their legal capacity to enter into the transaction, and the validity of their titles. This is why when applying to have your rights registered, you should be sure that everything is in order. Our law firm in Portugal can help you prepare the necessary documents for your registration with the Portuguese Land Registry. Dealing with land is a very sensitive matter. To avoid any conflict, make sure that you verify the title over the land. The records found in the Land Registry in Portugal are public which means the information is open to the public.
How can I purchase a property in Portugal?
Foreigners can easily purchase properties in Portugal whether through a golden visa and a minimum investment of EUR 500,000 if you are an investor or as a citizen interested in simply buying a house/apartment/condominium or anything like it. At the time the property is acquired, a sale agreement is signed by the parties involved in the transaction. Such an important document is known as the sale and acquisition agreement and in order to be valid, it has to be signed by the former and the future owner and then notarized to be valid. The contract comprises details about the previous and actual owners of the property, the background history, and all the financial aspects. It is important to know that the contract will have to provide information about the construction and the ways in which the property was acquired in the first place. The contract is valid, and the property is sold when the contract is agreed and signed by both parts. It is highly recommended to bear in mind the importance of the real estate due diligence, a procedure that guarantees the property has no hidden problems or litigation matters. Our experienced lawyers in real estate due diligence in Portugal can offer legal support in purchasing a property in Portugal, can perform real estate due diligence and can help you register the property with the Portuguese Land Registry.
Real estate due diligence in Portugal
The real estate due diligence is not a complicated process and it is recommended by our Portuguese lawyers for all persons interested in purchasing a property in Portugal. This important procedure which can be handled by our attorneys in Portugal is subject to a series of verifications before the property is acquired by a new owner:
- • the documents of the property are verified to see if the establishment has a certificate issued by the Land Registry in Portugal;
- • the previous ownerships are analyzed through the real estate due diligence;
- • if there are any problems with the tax payments, the real estate due diligence can reveal these;
- • the construction permit, the insurance, the previous sale contracts and the capability of the owners to sell the property are verified before the property is acquired.
Having a Portuguese lawyer on your side who can perform a real estate due diligence is highly important at the time you wish to acquire a property. Instead of dealing with problems or discovering hidden issued right after you purchased an establishment are risks you cannot take. Moreover, our team of advisors can properly analyze the sale and purchase agreement and can provide you with the needed piece of advice in this matter, especially at the time the property needs to be registered with the Portuguese Land Registry.
Paying a property in Portugal
In most cases, a pre-agreement is issued at the time the parts decided on the sale and purchase of the property. This document stipulates important financial information like an established percent which needs to be paid if a bank loan is involved. Further details about the payment of the property will be comprised by the sale and purchase contract. In the case of paying the entire sum for the property, the parties won’t have to agree on a pre-sale contract. All the legal aspects of a property sale and purchase contract can be explained by our attorneys in Portugal who can also guide you with the Land Registry and the requirements involved.
Finding a property in Portugal
There is no complicated thing to search for the right property in Portugal, regardless of the chosen city. If you have decided to move to Portugal, you should first of all contact a real estate agent or access the Portuguese websites and real estate agencies showing the available establishments. We remind that all real estate agents in Portugal are approved by the Instituto da Construcao e do Imobiliario and can be verified after their license number. Also, if you are interested in purchasing land in Portugal, there are specialized websites displaying such offers. As a foreign investor, you can appoint our team if you are interested in purchasing a property in Portugal and worry less about the legal aspects involved in an acquisition. Also, we remind that a real estate due diligence is extremely important if you are interested in buying a house or land in Portugal. We remind that we can handle the registration requirements of your property with the Land Registry in Portugal, as soon as a real estate due diligence is performed. Do not hesitate to solicit details in these matters from our lawyers.
If you need more information on how to have your rights recorded in the Land Registry, just get in touch with our lawyers in Portugal. They can provide you with what you need.