Read on theReal Estate Development Law (Lei das Incorporações Imobiliárias)

Real estates are the most booming business that rich people are engaged in. this is because the returns from such businesses are generally good. However, since the starting capital is relatively higher, most people go for the bank loans in order to sustain the business. If you go for such a loan and you fail to repay back the loan, the lender can take you to court. According to the Real Estate Development Law(Lei das Incorporações Imobiliárias), it stipulates clearly on the next action to be taken in that matter. Upon the judge’s pronouncement on the course of the next action, all necessary documentation is done by the court clerk including the signing of the certificate of the extrajudicial auction of real estate(leilão extrajudicial de imóveis). Once the certificate is signed, the certificate is then issued to the bidder who has provided the highest bid as per the law of business.

Maybe as a real estate developer, you have entrusted your property the fiduciary. The fiduciary is the group of people entrusted to run a given business on the behalf of the owners or developers. To some extent, these people may fail you in the property management. This can eventually lead to the auctioning of the estate. It can be very painful, but as always has been, you won’t rest until you have seen them brought to book. You have done your part, you are paying them, and so you expect good work to be done. However, they are also protected by the Fiduciary Assignment Act(Lei das alienações fiduciárias). The act demands that you need to proof to court about the responsibility that they are expected to carry out, you need to proof to the court how exactly they are liable in the bringing down of your business. If you will be able to convince the court to this extent, then you can rest be sure that somebody is going to take responsibility. You can expect to be paid back all that belongs to you. Through this, you can avoid the extrajudicial auction of real estate(leilão extrajudicial de imóveis).

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