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For more complete information visit www.property-algarve.net
The legal regulations are very specific when buying a property in
Portugal; however, it is always advisable to use qualified legal advice
in any transaction.
It is also important to insure that any plans in the Town hall referring
specifically to the property do physically agree with the existing
construction. A property for living purposes must also have the following
documentation.
(a) Habitation License for property constructed after 1951
(b) A Certified insertion in the records of the Land Conservatory
(c) A detailed "Caderneta Urbana" from the Tax Office
Commercial and Industrial properties require both Points (b) and (c)
In the case of a rural property the following extra documentation is
necessary which is a detailed and up-to-date "Caderneta Rustica"
from the local Tax Office.
Each Town hall and Tax Office tends to have local interpretations of
the laws and regulations and these should be first checked prior to a
purchase. It is recommended to implement legal and other specific
searches prior to acquiring a rural property.
There are laws regulating Estate Agency practices and each Agent must
have a License granted by the State. The present laws are limited in
their usefulness and protection of any of the parties involved in a
transaction, and are appear designed more as a vehicle for acquiring a
State income.
The practice is for the seller of a property to pay a commission to an
Agent but it is not a controlled percentage as it does vary from area
to area.
The practice is for the seller of a property to pay a commission to an
Agent but it is not a controlled percentage as it does vary from area
to area.
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