Transfer of Property Act at Cape Verde
In Cape Verde (Cabo Verde), there is no specific law titled the "Transfer of Property Act." Instead, property transfers are governed by the Civil Code of Cape Verde, which includes provisions on the transfer of ownership for both movable and immovable property.
Cape Verde follows a civil law system, and the rules for the transfer of property are largely aligned with the general principles of civil law in Portugal, due to the historical connection between Cape Verde and Portugal.
Here’s an overview of the process for the transfer of property in Cape Verde:
1. Legal Framework:
Civil Code of Cape Verde: The Civil Code provides the primary legal framework for property transactions, including the transfer of property. It outlines the rules and procedures for the transfer of immovable property (real estate) and movable property.
Land Registry System: Cape Verde has a land registry system (Cadastro Predial) that records transactions involving immovable property to guarantee ownership and rights over real estate.
Notary Public System: In Cape Verde, a notary public plays a crucial role in the transfer of property, particularly for immovable property transactions.
2. Transfer of Immovable Property (Real Estate):
Sale Agreement: The transfer of real estate typically begins with a sale agreement (contrato de compra e venda). This agreement is usually in writing and must clearly outline the terms of the sale, including the price, the property description, and the terms and conditions of the transaction.
Notarization: The sale agreement must be notarized by a notary public to be legally binding. The notary ensures that the contract complies with legal requirements, and that the identities of the parties involved are verified.
Public Deed: For the transaction to be valid, the deed of transfer (escritura pública) must be executed and signed by the parties involved, in the presence of a notary.
Registration: After the notarial act, the transfer must be registered with the Land Registry (Cadastro Predial). This registration is essential for the transfer of ownership to be legally recognized and for the new owner to have full title over the property.
Taxes and Fees: The buyer typically pays the property transfer tax (Imposto de Transmissão de Bens Imóveis, ITBI) and any other relevant fees related to the notary and the registration process. These taxes are calculated based on the sale price or assessed value of the property.
3. Transfer of Movable Property:
Ownership Transfer: The transfer of movable property (personal goods, vehicles, etc.) in Cape Verde is generally governed by the general principles of contract law under the Civil Code. The transfer is usually completed through delivery of the property, along with mutual consent between the buyer and seller.
Written Agreement: A written contract is not always required for the transfer of movable property, but it is recommended for higher-value items. For example, for vehicles, a bill of sale or other relevant documentation is necessary to ensure the transfer is recorded with the appropriate authorities (such as the Traffic Department for vehicle registration).
Possession and Delivery: The ownership of movable property is generally transferred upon delivery and the mutual consent of the parties involved.
4. Formal Requirements for Property Transfer:
Written Contract: A written contract is usually required for the transfer of both movable and immovable property, particularly for real estate transactions.
Notarial Deed: In the case of real estate, a notarial deed (escritura pública) is essential. This deed must be registered to ensure the transfer of ownership is legally valid.
Consent: Mutual consent between the buyer and seller is a fundamental requirement for the transaction. Both parties must agree to the terms of the sale.
5. Transfer of Property by Inheritance:
Inheritance Law: In Cape Verde, the Civil Code also governs the transfer of property through inheritance. When a person passes away, their property is passed on to their heirs, either according to their will or in accordance with intestate succession if no will exists.
Probate: In cases where there is a will, the estate typically undergoes probate to confirm its validity. The heirs are then entitled to receive the property as per the terms of the will or the applicable rules of inheritance under Cape Verde’s Civil Code.
Taxes: Inheritance tax may be applicable, depending on the value of the estate and the relationship between the deceased and the heirs.
6. Foreign Ownership of Property:
Foreign Buyers: Foreign nationals are allowed to purchase property in Cape Verde. However, certain restrictions may apply depending on the nature of the property (for example, properties near the border or land in sensitive areas).
Land Use and Zoning: While foreigners can own property, they may be subject to specific land use regulations and zoning laws that determine what kind of development or activities can take place on the land. Some restrictions may apply to land intended for agricultural use or in environmentally sensitive areas.
Real Estate Investments: Foreign investors interested in tourism or commercial real estate may need to comply with certain regulations or licensing requirements depending on the size and type of the investment.
7. Dispute Resolution:
Court Proceedings: Disputes related to property ownership, such as disagreements over sale agreements or property boundaries, are typically resolved through the court system. The civil courts in Cape Verde have jurisdiction over property disputes.
Mediation and Arbitration: Alternative dispute resolution (ADR) methods such as mediation and arbitration can also be used to resolve disputes without going to court. These methods are often preferred in commercial or investment-related property disputes.
8. Land Use and Ownership Regulations:
Land Use: As in other jurisdictions, land in Cape Verde is subject to specific zoning and land-use regulations. There may be restrictions on the type of development that can occur on certain parcels of land, particularly in residential, agricultural, or environmentally protected areas.
Government Regulations: The government has the authority to regulate land use, and properties may be subject to expropriation or compulsory purchase in the public interest (for example, for infrastructure projects or environmental protection).
Conclusion:
In Cape Verde, property transfers are governed by the Civil Code, and the process involves a sale agreement, notarization, deed of transfer, and land registry registration for immovable property. For movable property, ownership is transferred through delivery and mutual consent. There are taxes associated with property transfers, and foreign buyers can purchase property, although some restrictions may apply, particularly for land in sensitive areas.
It is advisable to consult a local notary or lawyer to ensure that the transfer complies with all legal requirements, especially in the case of real estate transactions.
RELATED Blog
0 comments