What is the importance of Legal representation?

1. Legal Documentation

In many aspects of life, hiring legal assistance can prove to be very advantageous. Not all legal issues and procedures end in court cases and litigation. To further safeguard the interests of their clients, lawyers also prepare contracts, agreements, wills, and other legal documents. Creating financial contracts is a typical commercial process that calls for legal counsel. Companies of all sizes rely on their lawyers, from tiny firms to enormous organizations, for legal advice.

2. Ease The Process

The purchase of a home is most likely the most complicated investment you will ever make in Portugal, and a legal representative can advise you on any issues that might arise. Besides the ambiguous and confusing language, several legal and property deed concerns can arise. Your legal representative's job will be to help you navigate this procedure. He will give you legal counsel regarding the transaction and any potential tax repercussions.

3. Supervision

Real estate transactions may involve novel procedures. Therefore, it's crucial to emphasize that all parties involved must pay close attention. The legal representative will supervise every aspect of the transaction to ensure that your interests are upheld and that the transaction paperwork accurately represents them. Real estate legal counsel is essential to avoid annoyance and loss.

4. Conflict Resolution

Legal representation benefits several family-related concerns, such as marriage, divorce, adoption, wills and estate planning, child custody, and support. A family lawyer focuses on resolving conflicts and problems involving personal finances while ensuring the best interests of their clients are upheld. Corporate attorneys guide clients through trademark and intellectual property law complexities to preserve their assets. On the other hand, criminal attorneys focus on defending or accusing specific people, teams, or businesses in criminal prosecution.

5. Representation

If you need to return to your country, the real estate acquisition process doesn't have to be put on hold. Your legal representatives will represent you if you reside outside of Portugal, have invested in Portuguese real estate or other investments, or are considering doing so. You may be confident that your transaction will be in excellent hands if they have a power of attorney (POA), which enables them to act on your behalf during the sale of a property, the transfer of ownership, the signing of documents, or the renting or leasing of a property.

Notary And Legal Representation Aren't The Same

In short, a notary public doesn't have any legal responsibility to you. Keep in mind that the terms notary and legal representation are distinct. Your legal representative will protect your property and contract interests when you pay the deposit or sign the contract. Still, the Portuguese notary will ensure all property paperwork is in place and taxes are paid. Before signing a real estate contract, depending on the nature of the transactions, your legal representative will;

1. Examine the Purchase and Sale Agreement and provide you with legal and contractual advice;
2. Obtain an inspection of the property's title, determine the state of these titles, and ask for the necessary legal remedies;
3. Describe any potential responsibilities you'll have;
4. Assist you in comprehending the impact of any current mortgages or other dispositions;
5. Discuss various forms of financing;
6. Talk about the best way to obtain the property's title (personal, joint, or business);
7. Tell you where and how to get the family residence "homestead" exemption;
8. Review the process for buying insurance against hazards like fire;
9. Advice on how to earn the title and the potential consequences it might have on your company.
10. Serve as a Fiscal Representative.

Who Needs Legal Representation As A Fiscal Representative?

A fiscal representative is an individual or business that serves as a point of contact between a non-resident person or company and Serviço de Finanças (the tax office). They are in charge of advising you of the appropriate legislation, timelines, and tax requirements.

The following categories of people may require a fiscal representative:

1. Applicants for a NIF number who are from outside the EU/EEA
2. Those who live outside of Portugal and the EU and yet have financial ties to Portugal (such as having a Portuguese automobile or house)
3. You operate a business there or get income there that is subject to Portuguese income tax (IRS)

Cost of Legal Representation

The fees for a lawyer are generally not regulated. It depends on the service they want to render. On property legal representation, the fees for a lawyer might range from 1% to 2% for buying a property. This will be money well spent, primarily since a lawyer can assist you in avoiding specific typical issues that may arise throughout the acquisition or sale of a home and cost you more money overall.

If your Portuguese is not great, hiring a lawyer specializing in Portugal property law and is at ease speaking your home tongue is advisable.

Do you need Legal Representation?

Our team of personal legal representatives at LandingPad have a broad range of skills in contentious and non-contentious areas and a keen understanding of Portuguese laws. They use their knowledge and experience in the field to assist people and organizations in defending their interests. Kindly get in touch with a legal team member for more details!