Real estate
Initiative promises to attract more investment to the city in the real estate and construction sectors. Delay in licensing was one of the main obstacles for companies in the industry.
Court decision sets a precedent for families to seek annulment of real estate contracts concluded before interdiction. Change aims to protect individual who has not yet been declared incapable.
The Third Panel of the Superior Court of Appeals (STJ) set an understanding regarding the subject based on the Civil Code. The owner who manages the property is presumed to be the common representative and can formally sign the lease agreement in the absence of opposition from the others.
Risk rating of buildings according to criteria defined by CGSIM Resolution No. 64/20 dictates the need and form of licensing.
IPTU taxpayers are required to submit an Annual Statement of Registration Data for all their residential and non-residential urban properties as of this year.
The solution adopted is more costly for developers than the Termination Law, which allows the brokerage commission to be retained in addition to the percentage of 25% of the amount paid by the purchase.
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.
For how long can a non-residential lease be renewed? Are there minimum and maximum terms mandated by law?
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.
