Law 13,786/2018, published on 12/28/18 in the Official Gazette of the Union, regulates real estate contract rescission and addresses the rights and duties of developers, land subdividers, and property purchasers in cases of contractual termination.
The rule alters the regulation of the amounts that are refunded to buyers who give up the acquisition of the property.
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There are two regulated situations. If the withdrawal occurs in a development in which there is no segregated estate (restricted to a specific development), the refund will be 75% of the amounts paid. In those in which there is a segregated estate, the refund will be 50% of the amounts paid.
Further according to the rule, the delivery of the property within up to 180 consecutive days from the date stipulated contractually as the expected date for completion of the development – provided it is expressly agreed in a clear and highlighted manner – will not give rise to the termination of the contract by the purchaser, nor to the payment of any penalty by the developer.
Sources: Consultor Jurídico and Migalhas
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