Buying a home is a complex process, which can be even more complicated when it takes place in a foreign country. In Portugal, the role of a lawyer is necessary to ensure that the purchase goes smoothly and legally. This guide explains the different roles and responsibilities of a lawyer when buying a home in Portugal.
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Legal and financial advice
A lawyer provides legal and financial advice throughout the buying process. Click for more details on the usefulness of a lawyer in Portugal. A lawyer explains the implications of the various contractual clauses and ensures that the buyer understands all the financial aspects of the transaction, including taxes and notary fees. In addition, the lawyer can advise on the best financing and mortgage options available in Portugal.
Checking documents and the property
A lawyer’s first task is to check the documents relating to the property. This includes checking the title deeds, building permits, planning certificates and any mortgages or encumbrances on the property. This step is important to ensure that the seller is the rightful owner and that the house is free of any legal encumbrances.
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Negotiating and drafting the contract
The lawyer plays a key role in negotiating the terms of the contract of sale. They draft or review the Promise to Purchase and Sale Contract (CPCV), which is a fundamental pre-contractual document in Portugal. This contract sets out the conditions of sale and often includes a deposit. The lawyer ensures that all the conditions are clear and fair to the buyer.
Signing the deed of sale
When the deed of sale is signed, the lawyer accompanies the buyer to ensure that everything runs smoothly. This stage usually takes place at a notary’s office, and the lawyer ensures that all the necessary documents are in order. The lawyer also ensures that payments are made correctly and that the transfer of ownership is duly registered.
Registration and payment of taxes
Once the deed of sale has been signed, the lawyer registers the property in the buyer’s name with the Portuguese Land Registry. He or she will also ensure that the taxes associated with the property purchase, such as LMI and stamp duty, are paid.
In short, hiring a lawyer when buying a home in Portugal is essential to ensure a secure transaction that complies with local legislation. Whether you are a local or foreign buyer, the assistance of a lawyer ensures a stress-free and legally secure buying experience.
