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Anyone wishing to purchase a property in
Portugal, either a national or foreign national, must have a
Fiscal Number or
Numéro Fiscal de Contribuinte.
This Fiscal number, which is also called a Tax Card, is easy
to obtain from any tax office within Portugal and costs
6.40€.
Once you have found your dream
home and have agreed on a price with the agent and seller,
it is customary to sign a
Contrato de Promessa de Compra e
Venda.
This document should be signed
drawn up by a lawyer (advogada)
and signed within his/her office. Once all parties have signed, the lawyer
then registers
the document online to prove it's validity. It is worthwhile to note this contract
ensures you will not be gazumped and should the seller
decide again selling then they are bound, by law, to refund
double your deposit.
The completion of a property sale usually
takes around three months, however this can vary from
individual sale. In some cases it has been possible to
complete a purchase within a fortnight. The completion of a
property sale in Portugal usually takes place at an independent
Notary's office, whom will be arranged by the seller's
estate agent.
However you can also complete the purchase of
your property at the
Conservatória do Registo Predial
(land registry office) utilising a new system
called 'Casa Pronta'. The completion of sale is often called the 'Escritura',
which in fact refers to the title deeds of the property.
Once you've completed the sale
you will need to
register your property at the
Conservatória do Registo Predial
or Land Registry Office. Until the property has been
registered in your name, it is not legally yours. In
addition to registering your property at the land registry
office you will also need to notify the local tax office of
the change of ownership. In most cases your appointed lawyer
will take care of both of these registrations. |
