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 at a lawyer's (advogada) office. Once all parties have signed, the lawyer registers the document online. 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 takes place at an independent Notary's office, whom will be arranged by the seller's estate agent. 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. |
