When buying a real estate in Fortaleza you almost certainly require the services of a Brazilian lawyer (advogado). Let us take a quick look at what you will need your lawyer to do for you in order to complete your real estate transaction.
Firstly your lawyer in Fortaleza will need to carry out in depth due diligence on the property you are considering purchasing. Regrettably many lawyers carry out due diligence as if the transaction was taking place in a country with a more evolved real estate transfer mechanism and with less fraud than Brazil. As Brazil does not have a sophisticated real estate transfer mechanism and fraud is extremely common this can be an extremely risky practice. It is for this reason that the Brazilian Courts are busy with Brazilian lawyers disputing real estate ownership. With a clear understanding of the potential risks and taking into account the reality of the Brazilian System and the criminal activity within the real estate sector a competent lawyer in Fortaleza can protect you and ensure that your investment is a successful one.
Following due diligence your lawyer (advogado) will be responsible for the transfer of the property into your name. This will include the payment of property taxes and notary fees and of course the management of the legal contracts on your behalf. Also you will need a CPF number (a Brazilian tax identity) that your Fortaleza lawyer will obtain on your behalf. Often these processes are carried out by way of a power of Atty. Investment Services Brazil will discuss this process and the points of interest is the subject of another blog.