BRAZIL Trends and Developments Contributed by: Ivandro Ristum Trevelim, Rafael Jordão Bussière and Fabio Perrone Campos Mello, Campos Mello Advogados
ments with the character of a public deed, to be submitted electronically to the competent real estate registry office. Changes to the Real Estate Development and Building Condominium Law A provision was included in the Real Estate Development and Building Condominium Law to establish that the assets and rights that make up the segregate asset can only be used as a guarantee in credit operations whose value is fully intended to be used for the construction and delivery of housing units to buyers. Changes to the Urban Ground Division Law Law 14,620/2023 brought important changes to the legislation on allotments, some of the main ones being: • the allotments can be subject to a special segregation regime, where the land, infra - structure and other assets are separated from the subdivider’s assets, constituting a seg - regated asset to guarantee the development and delivery of the lots to the purchasers; and • the allotment developer has specific obliga - tions, including promoting good administra - tion and preserving the segregated assets, keeping the assets of the allotment separate, raising funds for the development and provid - ing periodic statements on the status of the work. Changes to the Civil Code Law 14,620/2023 has introduced changes relat - ed to rights in rem and mortgages. • Rights in rem: inclusion of the concession of the right in rem to use the slab and the rights arising from the provisional imposition of pos - session, when granted to public entities and their delegates, and the respective assign -
ment and promise of assignment as rights in rem. • Mortgages: expansion of the objects that can be mortgaged to include surface rights and introduction of the rights arising from the provisional imposition of possession, when granted to public entities and their delegates, and the respective assignment and promise of assignment. Changes to the Rural and Urban Land Regularisation Law Law 14,620/2023 brought important changes to Rural and Urban Land Regularisation Law, such as: • the responsibility of municipalities to regular - ise informal urban areas within their jurisdic - tions; • the obligation of public authorities to imple - ment basic infrastructure, community equip - ment and housing improvements through public and private resources; • the prior transfer of the right to build to make regularisation projects viable; and • specific procedures for registering properties resulting from land regularisation projects. Acquisition of Farmland by Foreign Capital The National Congress initiated two Bills (Nos 2963/2019 and 2964/2022), which propose, in short, the removal of restrictions and impedi - ments for Brazilian companies controlled by for - eign capital to make investments in farmlands through acquisition or lease, except in the Legal Amazon, coastal and border areas, thus also respecting national security. The Bills would still maintain the restrictions on all foreign individu - als or legal entities, and restrictions in the case of acquisition or lease by certain entities such as NGOs, foundations, sovereign funds, entities and companies controlled at any level by states,
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