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LEGAL PROCEDURES

 

The Litoralviver has the necessary information to interested parties in the lawsuit business.

PRELIMINARY PAPERWORK

  • Property “Passport” - All properties are required to have a “passport” that establish the legality of the property you are buying and ultimately make the buying/selling process quicker and easier. 
  • Personal Fiscal Number - As a future owner of a Portuguese property you will need to have Portuguese Fiscal Number which can be obtained immediately on a Local Tax Office.
  • Contracts - Purchasing and Selling Promissory Contract - Official contract, signed by both parts in front of an official Notary, generally accompanied by a deposit payment. It must include the full details of the seller, the purchaser and the property; agreed price, payment conditions and any special terms and conditions of the contract, including completion date. 

PROPERTY DOCUMENTS

  • Tax Document - Certifies the inscription of the property for fiscal purposes, identifies the owner and his fiscal nr., and describes the property (nr. of rooms, area and type of plot, history, etc) including its unique fiscal number. 
  • Certification by the Building Registration Office - Identifies the property’s owner and certifies the existence of any charges or debts on the property. 
  • Usage and Habitation Licences / Licence of use - Certifies that the property is approved for the purposes of the original building permission. 
  • IMI - Annual municipal tax, defined by the City Council. It is established according to a set of limits, depending on the type of property with a variation between 0,2 % to 0,8% of the property value. For off shores it may reach 5%. 
  • IMT - The Property purchase tax needs to be payed before the Final (Escritura). This tax depends on the property type and price and it goes from 0% to 8%. 
  • Final Deed - The title of the property is done on the conveyance signed by a Public Notary who is responsible for checking and certifying the legal exactness of the entire transaction, ensuring that all documents are in perfect order and any applicable purchase taxes have been paid. 
  • Registering Ownership - Once the Final Deeds are signed, the property has to be registered at the local Land Registry in your name, as new owner. The registration must be done in the of 60 days after the purchase. 
  • Averbamento na Matriz - This registration allows the establishment of fees and annual taxes, such as IMI. 
  • Notary and Registration Fees - The owner is responsible for paying these once the Final Deed, has been signed. 
UTILITIES
Once registered property, Litoralviver may require, upon authorization by the new owner, a variety of services directly or through its partners, such as electricity, water, telephone, change of ownership of consumer, profitability, etc..
These types of services may also be treated during the registration of the lease.

 

 

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