When you buy a property, how apartment, house or other property any two things must be done: the deed of the property and the registration of the property. The fact is that you, whether you like it or not, will have to face the bureaucracy that involves the real estate sector.
In order to have a record of purchase and sale, it is essential to formalize the event, which takes place through the public deed of purchase and sale at the notary’s office.
In this article, we are going to talk about one of the documents that generate the most doubts when it comes to buying and selling real estate. You will know what a scripture is and the steps to have it in hand, ok? Read on and check it out!
What is a property deed for?
It is a document of a public nature produced at the notary’s office. It aims to validate the purchase and sale of a particular property. It is proof that the owner is legally the owner, obeying the will of both parties – seller and buyer.
How much does a deed of property cost?
The legalization of a property involves costs. Therefore, it is advisable, for those who want to buy a property, to think about the expenses with the deed.
Costs vary depending on the municipality in which the property is located. Generally, the value is calculated based on a percentage that is between 2% and 3% of the market value — that is, the estimated price according to data from the Property Registration Data Certificate, present in the Real Estate Registry.
It is noteworthy that this document is very important and it is advisable to provide it as soon as possible, as it works as proof of ownership of a particular property.
What is the step by step to get the deed from the house?
1. Know where to do
In order to register the purchase and sale, the event must be formalized through the public deed of purchase and sale – which must be made at the notary’s office by the notary or notary.
2. Gather the documentation required by the registry
The bureaucratic procedure called “property registration” is one of the phases to obtain the deed of real estate, in which copies of various documents are requested. Check out which ones they are.
See what the property documents are:
- updated certificate of the property: issued at the Real Estate Registry, which will contain its history. Any modification made to the property must be noted or documented by registry;
- City Hall certificate: for calculating the amount of ITBI (Real Estate Transfer Tax).
Check the sellers’ documents:
- original and certified copy of the CPF and RG of all owners, including the owners’ spouses;
- original and copy of marriage certificate;
- proof of address and occupation of owners and spouses;
- clearance certificates with the Federal Revenue and the Labor Court.
See what the buyers’ documents are:
- original and certified copy of the buyer’s and spouse’s RG and CPF;
- original and copy of marriage certificate;
- proof of address and occupation of the buyer and spouse.
Note: although the spouse’s qualification must be included in the property deed, it is not necessary that he also sign. However, the sellers’ spouses must sign.
The registry itself provides them. One of them is the labor debt clearance certificate – which can be issued online and free of charge on the TST – Superior Labor Court page.
It is advisable, however, to check at the registry office in your city which documents are required, as each one has its own requirements regarding documentation to draw up a deed.
3. Check the clearance certificates
It is recommended that those who are going to take out the property deed obtain clearance certificates for municipal, state and federal debts, as well as labor claims that may be taking place against the seller (both in the location of the property and in the seller’s domicile).
This measure aims to ensure your good faith in the property business, as well as to take precautions to avoid surprises in a future judicial annulment of the sale.
4. Collect the Transmission Tax – ITBI
To make the deed of the property, it will be necessary to collect the ITBI (Tax on Transmission of Real Estate). The notary public may apply for the ITBI Guide, which will contain the basic details of the seller, the buyer and the property, as well as the value of the property and the value of the business declared by both parties.
5. Wait for the notary’s analysis
After the delivery of all documentation and the collection of ITBI and FRJ, the notary will analyze the documents and everything that involves the deed of property.
6. Attend the registry
The notary will request the appearance of the parties at the notary’s office and, after reading the deed, the deed will be drawn up and signed by all involved. As of the signature, the deed becomes a public act. It is at this time that you will pay the notary’s fees stipulated by the Court of Justice.
7. Take the deed to the Real Estate Registry Office
You now have the deed to your property, but you are not yet considered to be its owner. For this, you must take the deed to the Real Estate Registry Office.
8. Wait for the deed to be analyzed
After the Real Estate Registry Officer receives your deed, he will carry out an analysis in which other requirements may be possible. You will be required to pay registration fees as well as some registration fees in accordance with a table of the Real Estate Registry Officers.
9. Finally, be the owner of the property
Once everything is in order and within 30 days, the Registration Officer will register the deed in the property’s registration and, from then on, you will be considered the property’s owner.
It is noteworthy that, from that date, your property must be included in the income tax return. Ownership of property must be informed in the Property and Rights form of the IRPF. The filling must comply with the codes. Houses are under code 12; the apartments, under code 11, and the land, under code 13.
When the copy of the property deed is finally in your hands, get the keys and celebrate! Remember, therefore, to ask the water, electricity, gas, telephone and internet companies to change the registration data as soon as possible.
Did you like this post? Insightful, isn’t it? Then, continue with your visit and read another very interesting article: “Income tax on property sales: how does it work?”.