PROVISIONAL MEASURE In 2223, 4 SEPTEMBER 2001.
The letter of credit real estate, the real estate credit card and other matters.
The PRESIDENT of the REPUBLIC, in the use of the role that gives the art. 62 of the Constitution, adopts the following provisional measure, with force of law: Chapter I of real estate letter of credit Art. 1 commercial banks, multiple banks with real estate credit portfolio, Caixa Economica Federal, the mortgage companies, savings and loan associations, mortgage companies and other institutions that, for the transactions referred to in this article, will be expressly authorized by the Central Bank of Brazil, can send, regardless of actual tradition , Real estate letter of credit (LCI), anchored by loans secured by mortgage or lien of something still, giving to your borrowers credit law at face value, interest and, where appropriate, monetary restatement stipulated therein.
§ 1 the LCI will be issued under the nominative form, and may be transferable by endorsement in black, and shall include: (I) the issuer institution name and signatures of their representatives;
II-the order number, the date and place of issue;
III-the name "real estate letter of credit";
IV-the nominal value and the expiration date;
V-shape, frequency and the place of payment of principal, interest and, where appropriate, price-level restatement;
I saw the interest, fixed or floating, which may be renegociáveis, at the discretion of the parties;
VII-the identification of the secured credits and their value;
VIII-the name of the holder;
IX-the order clause, if endossável.
§ 2 the criterion of the creditor, can be excused the certificate issuance, and LCI in the form be recorded in book-entry registration systems and financial settlement of securities authorized by the private Central Bank of Brazil.
Art. 2nd LCI will be updated monthly by price index, since issued with a minimum of 36 months.
Sole paragraph. It is forbidden the payment of appropriate monetary figures since the issuance, when the early redemption in whole or in part, in less than the time limit set out in this article, the LCI issued with monthly update forecast for price index.
Art. 3rd LCI can count on additional surety guarantee financial institution.
Art. 4 LCI can be ensured by one or more loans, but the sum of the principal of the LCI issued shall not exceed the total amount of loans held by the issuing institution.
§ 1 the LCI can be no more than the term maturity of any loans that you serve as ballast.
§ 2 the loans secured credit may be replaced with another of the same type on the initiative of the issuer of the LCI, in cases of settlement or maturity anticipated credit, or by request of the creditor of the letter justified.
Art. 5 the LCI endorser will respond for the veracity of the title, but he will not be admitted right of recovery countdown.
Art. 6th the Central Bank of Brazil can establish the minimum term and other conditions for issuance and redemption of LCI, subject to the provisions of art. 2 of this provisional measure.
Chapter II real estate Credit Card Art. 7 is established the real estate credit card (ICC) to represent real estate credits.
§ 1 the JRC will be issued by the lender of home loans and may be integral, when represent the totality of the credit, or, when represent part of it and the sum of the fractional JRC issued for each credit exceeds the total amount of credit that they represent.
§ 2 the KICs may be fractional issued simultaneously or not, at any time before the expiration of the credit that they represent.
§ 3 the JRC may be issued with or without warranty, real or surety in the form book or cartular.
§ 4 the emission of the JRC under the book-entry form shall be by public deed or private instrument, and the instrument remain guarded in financial institution and registered in registry systems and financial settlement of securities authorized by the private Central Bank of Brazil.
§ 5 Being the loans guaranteed by Royal law, issued by the ICC will be registered in the registry of immovable property of the situation of the property, on its license plate, and her bear, exclusively, the number, the series and the custodian institution.
§ 6 the registration of issue of the JRC and the registry of credit guarantee, when requested at the same time, shall be deemed to act only for the purpose of charging fees.
§ 7 the Court fall on credit constriction represented by JRC will be effected in the institution's records custodian or by seizure of their cartouche.
§ 8 The lender of the JRC shall be immediately subpoenaed legal constriction that fall on the collateral of loans represented by that title.
§ 9 in the case of JRC issued under the book-entry form, it will be up to the custodian institution identify the lender, for the purpose of the summons provided for in § 8 of this article.
Art. 8. The JRC shall contain: (I)-the title "real estate credit card", when issued cartularmente;
II-the name, qualification and the address of the creditor and of the debtor and, in the case of Scriptural, the emission custodian;
III-the ID of the object property real estate credit, with an indication of their registration in the immovable property registry and on which the security is lodged, if any;
IV-mode of warranty, if applicable;
V-the number and the number of the ballot;
I saw the value of credit that represents;
VII-the integral or fractional condition and, in this last hypothesis, also indicating the fraction that represents;
VIII-the deadline, the expiration date, the total value of the supply, it included portions of depreciation and interest, taxes, insurance and other charges the debtor's liability contract, how to reset and the value of fines provided for contractually, with the indication of the place of payment;
IX-the place and date of issue;
X-the signature of the creditor, when issued cartularmente;
XI-the authentication by competent real estate registry Officer, in the case of collateral;
XII-the order clause, if endossável.
Art. 9 the JRC is extrajudicial enforcement, chargeable at the value determined in accordance with the terms and conditions agreed in the contract that gave rise.
Sole paragraph. The JRC will be payable by credit by action execution, except where the law establishes special procedures, judicial or extrajudicial for satisfaction of the claim and realization of collateral.
Art. 10. The issuing and trading of JRC is independent of consent of the debtor of loans for which it stands.
Art. 11. The transfer of the claim represented by JRC may be made by means of registration systems and financial settlement of securities authorized by the private Central Bank of Brazil.
§ 1 the assignment of the claim represented by JRC automatic transmission of their guarantees implies to the transferee, sub-rogando-o in all rights represented by the ballot, getting the transferee, in the case of chattel mortgage contract, invested in the trust property.
§ 2 the assignment of credit secured by real law, when represented by JRC issued under the book-entry form, you are excused of recordal in the register of real estate, by applying, in that this interim measure not contrary, pursuant to arts. 1065 and following of the Civil Code.
Art. 12. The JRC, object of securitization by law 9514, 20 in November 1997, will be identified in the corresponding Term of securitization of Credits, upon indication of its value, number, series and institution custodian, dismissed the enunciation of the information already contained in the Ballot or his record on custodian institution.
Sole paragraph. The fiduciary regime contemplated in section VI of the Law of 1997, 9514 in case of issue of certificates of real estate receivables-backed loans represented by JRC, will be registered in the institution, citing the separate assets custodian that are affected, not applying the provisions of the sole paragraph of art. 10 of the said law.
Art. 13. The redemption of debt represented by the JRC is proved with the Declaration of discharge issued by the creditor, or, failing this, by any other means allowed in law.
Art. 14. It is forbidden the registration of issue of CCI with collateral when booking or registration of any other liens on real estate rights, including attachment or registration of any warrant or court action.
Chapter III Final Provisions Art. 15. In contracts for sale of real estate, real estate finance in General and in the leasing of real estate, as well as securities for them originated, with at least 36 months, is admitted stipulation reset clause, with monthly, for sectoral or general price indices or by the index of basic remuneration of savings deposits.
§ 1 is prohibited the payment of appropriate monetary figures in securities, when early redemption in whole or in part, in less than the time limit set out in the heading of this article.
§ 2 The securities referred to in the caput of this article shall be cancelled by the issuer in the event of early redemption where the term the course is less than 36 months.
§ 3 shall not apply the provisions of paragraph 1 of this article, in the case of discharge or anticipated maturity of loans that lastreiem or have originated the issuance of securities referred to in the caput of this article.
Art. 16. Are void as of right any expedients that, directly or indirectly, result in equivalent effects to reduce the minimum period referred to in the caput of the art. 15. First paragraph. The National Monetary Council may discipline the provisions of this article.
Art. 17. Is forbidden to conclude contracts with wage equivalency clause or commitment of income as well as the inclusion of clauses of this kind on contracts already signed, kept, for contracts concluded prior to the date of entry into force of this provisional measure, the provisions formerly in force.
Art. 18. In the case of non-payment on a timely basis, by the debtor, taxes and condominium fees levied on the property mortgage their object, as well as the monthly installments uncontroversial documents set out in the contract and any other charges that the law imposes to the owner or occupant of property, can the judge, at the request of the creditor, determine the forfeiture of injunction , for injunctive relief or anticipation of the effects of guardianship that has interfered in the effectiveness of mortgage contract clauses or suspended charges under it.
Art. 19. Without prejudice to the provisions of the Civil Code, the obligations in General can also be guaranteed, including third parties, by fiduciary assignment of receivables arising from contracts for the sale of real estate, by deposit of credit rights or acquired as a result of sales contracts or promise of sale of real estate and chattel mortgage of immovable thing.
Art. 20. Once protocolizados all documents required for the recordal or registration of the acts and of the securities referred to in this provisional measure and the law in 1997, 9514, the registration officer of real estate registration or recordal shall, within fifteen days.
Art. 21. The item II of art. 167 of law no 31 of 6015, December 1973, goes into effect with the following item: "21) the sale of loans." (NR)
Art. 22. art. 9 of law no 8036, of 11 May 1990, with the following wording: Art. 9 applications with FGTS funds can be performed directly by the Caixa Econômica Federal and the other agencies taking part in the housing system-SFH, exclusively according to criteria laid down by the FGTS Board of Trustees, in transactions that meet the following requirements:.......................................................... " (NR)
Art. 23. art. 32 of the law on 18 October, 8245 of 1991, with the following wording: Art. 32. ..........................................................
Sole paragraph. In contracts signed as of 1 October 2001, the right of first refusal referred to in this article does not reach also the Constitution of the trust property and loss of property or sale by any form of guarantee, including by extrajudicial auction, and this condition expressly in specific contractual clause, the other for its graphical presentation (NR). "
Art. 24. The law on 9514, 1997, with the following changes: "Art. 5.................................................................................................................... § 2 real estate marketing operations, with payment in installments, leasing of real estate and real estate finance in General, may be carried under the same conditions allowed for entities authorized to operate in IFC. " (NR)
"Art. 8 ..........................................................
I-identification of the debtor and the nominal value of each credit to lastreie the issue, with the individuation of the property that is bound and the indication of the real estate registry office in which is registered and their registration, as well as the Act by which the credit has been given;
"Art. 16..................................................................................................................... § 3 the fees arising from real estate records offices for cancellation of the fiduciary regime and actual existing guarantees will be charged as single act. " (NR)
"Art. 22........................................................... § 1 the chattel may be employed by an individual or legal entity, private entities not operating in SFI.
§ 2 the chattel mortgage may have as object property rent, and also required the payment of the report if there are useful in the domain consolidation trustee. " (NR)
"Art. 26..................................................................................................................... § 7 within the § 1 without the purgation of the lives, the competent official real estate registry, making sure that fact, will promote the record, on the admission of the property, the consolidation of property on behalf of the trustee, within sight of the proof of payment, by the trustee, the estate tax inter-vivos and, if applicable, of the report. " (NR)
"Art. 27.. .................................................................................................................... § 7 If the property is leased, the lease may be denounced with the period of 30 days for eviction, unless there has been acquiescence in writing of the trustee, and that the complaint be held within 90 days from the date of the consolidation of the property in the trustee, and that condition expressly in specific contractual clause, the other for its graphical presentation.
§ 8 Responds to the beneficiary by the payment of taxes, fees, contributions and any other condominium charges that affect or will rest on the property, whose ownership has been transferred to the trustee, in accordance with this article, until the date on which the trustee were to be let in. " (NR)
"Art. 37-a. The beneficiary will pay to the trustee, or who will succeed him, the title of the property's occupancy rate, per month or fraction, 1% amount corresponding to the value referred to in item VI of the art. 24, computed and payable from the date of sale by auction until the date on which the trustee or its successors, will be let in the possession of the property. " (NR)
"Art. 37-B. Shall be deemed ineffective, and without any effect to the trustee or his successors, hiring or the extension of lease of property alienated fiduciariamente for a period exceeding one year without written agreement of the trustee. " (NR)
"Art. 38. The contracts of purchase and sale with financing and chattel mortgage, the loan with chattel mortgage, leasing, credit transaction with real guarantee, as well as any other acts and contracts resulting from the application of this law, even those constituting or translativos rights in rem in immovable property, may be awarded by private instrument, they assign the character of notarial deed , for all legal purposes, not applying the standard of art. 134, (II), of the Civil Code. " (NR)
Art. 25. The National Monetary Council shall send out instructions that are necessary for the implementation of the provisions of this provisional measure.
Art. 26. This provisional measure shall enter into force on the date of its publication.
Art. 27. Are hereby repealed: (I)-the arts. 1 to 9, 11 to 15, 18 and 26 of the law on the 8692, of 28 July 1993;
II-paragraph 1 of art. 5 and art. 36 of law no 9514, 1997;
III-the §§ 5 and 6 of art. 2 of law No. 10192, of 14 February 2001.
Brasília, 4 September 2001; 180o independence and 113 of the Republic.
FERNANDO HENRIQUE CARDOSO, Pedro Malan Martus Tavares