This legal instrument is a novelty introduced by the Code of Civil Procedure to speed up the resolution of disputes, but loopholes raise questions, especially regarding real estate.
Note the highlights of Law No. 14,011/20, which facilitated the auctioning off of Brazilian government properties not tied to private parties by means of a prior right.
Less bureaucracy and more legal certainty are expected for the development of economic activities such as legal services, IT consulting, real estate management, and some retail segments, to name a few.
Since real estate investment funds can directly acquire ownership of the property on which they will develop the project via a fiduciary deal, the requirement of the Real Estate Development Law and the Land Subdivision Law would be fulfilled.
In addition to expanding access to credit and reducing the exposure of creditors to risks, the legislative change makes the process of updating collateral for new loans more dynamic.
Issues of interest to the real estate market addressed in vetoed sections should be analyzed by the Judiciary on a case by case basis.
To qualify, taxpayers interested in making full payment of the amounts due must request the discount from the Municipal Tax Commissioner’s Office by June 4.
Our attorneys analyze doubts as to how to calculate compensation for expropriating these properties. Should it take into account only the value of the bare land? Or should the vegetation coverage area also be appraised, considering the environmental restrictions that prevent its economic exploitation?
It is possible to litigate levy of ITBI tax when the calculation basis considers the value of future construction to be carried out by the purchaser.
Measure contributes to modernizing the Brazilian notary system, which can help boost the economy and real estate businesses that rely on the services of notary offices.