• Acquisition of property in Portugal
    Acquisition of property in Portugal

    The acquisition of a property in Portugal, as in any other country, requires a set of procedures and special care in checking all the documentation so that the entire process of buying and selling takes place with greater legal certainty for the parties involved. It is advisable the intervention of skilled professionals – lawyers and solicitors-making verification of all documents relating to the property, with the concrete situation the tax registry level as well as the existence of any burden or charges relating to the same, condominium, etc. and can advise the best solution and ensure the success of the business. Before the final transmission of the property, once reached the agreement between the parties, and verified all documentation, it is recommended that the contract was signed, this document through which the buyer and seller shareholding the business conditions (price, terms of payment, amount, terms and other signal) and safeguarding their particular situations as well as the possible consequences in case of non-compliance. Traditionally, the transfer of ownership of a property is done through a public deed to celebrate in the Notary, entity that is independent of the parties and strengthens the legal certainty of the deal. However, it can also be formalised by a private document authenticated by a lawyer or solicitor or through the service "House ready" available on the protective measures of land registry. After the completion of the contract that headlines the buying and selling, you should proceed to the definitive record of purchase and must be also made participation in acquisition finance service, in addition to contracts for the supply of services (electricity, water, gas), insurance, etc. Regarding the acquisition of real estate by foreign nationals not resident in Portugal, less familiar with the procedures of the Portuguese law, reinforces the need to obtain legal advice by a lawyer or solicitor, which may check the viability of the business and advise the best way to safeguard their interests, preventing future problems.   For further clarification, please contact us.    

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