04 December 23 | Lisboa
TOL NEWS 51, Communication of legal acts
Communication of legal acts

Framework for the communication of legal acts by notaries, lawyers and solicitors

Bank of Portugal Notice 6/2023, published on 20th September, establishes the framework for the communication of legal acts by notaries, lawyers and solicitors, within the scope of the reporting obligations established by Law 78/2021.

Consequently, notaries, solicitors, lawyers and trainees must electronically report information on public deeds, authenticated private documents or documents with their recognised signature, in which they intervene and which correspond to legal acts listed in article 4/1 of Law 78/2021, to the Bank of Portugal.

Reporting information on legal acts must include the following elements:

  • Identification of the reporting party
  • Identification of the parties
  • The capacity in which the parties intervene
  • The legal nature of the legal act
  • The date and place of the act
  • The monetary value of the act.

The Bank of Portugal also provides the possibility of reporting the fixed interest rate and the deadline for exercising the option to buy back the property, whenever this situation arises.

The respective communication must be made within 30 days of the legal act subject to reporting, on the platform made available for this purpose by the Bank of Portugal.

The Legal Acts Database allows the edition and substitution of the submitted legal acts for a period of 30 days. Additionally, the information reported can be stored for a maximum of 7 years.

Bank of Portugal Notice 6/2023 came into force on 21st September 2023.

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