Since the Government announced the exemption from IMT and Stamp Duty on the purchase of the first home for young people up to the age of 35, which will come into force on August 1st, many deeds are being postponed.
Notaries came to warn of problems with compliance with purchase and sale promissory contracts (CPCV).
Jorge Batista da Silva, president of the Order of Notaries, confirmed to Jornal de Negócios that “since the public announcement of the possibility of tax exemption on the purchase of housing, there has been a slowdown in purchase and sale deeds and postponements have been recorded”.
And he came to warn:
“the risks of non-compliance with the promise contracts”, since violating the deadlines “may result in the loss of the deposit paid”.
In view of the postponements, and if the CPCV deadline is being exceeded, the person responsible recommends “buyers to propose to sellers the signing of an addendum to the promissory contract to extend the deadline”.
Remember that the new law provides for total exemption for houses worth up to the 4th IMT bracket, that is, up to 316,772 euros. For the part that exceeds this amount and up to 633,453 euros, IMT must be paid at the rate corresponding to this bracket (8%).
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Source: Jornal de Negócios
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