Listed property: what it is and what are its advantages and restrictions

Buying a historic property means acquiring a property that, as the name says, carries the history of your region, in addition to having elegant architecture. In addition, these properties usually offer ample spaces and are well located in cities. However, these historic buildings may be listed or in the process of becoming a heritage site.

Therefore, acquiring these residences means having to take a series of preservation precautions, in addition to not allowing changes in their structures. Failure to comply with these requirements can lead to lawsuits for the owner. However, it is very common for this type of housing to provide a series of tax incentives and benefits to buyers.

What is a listed property?

To say that a property is listed like park view citymeans that the Government has inferred historical value about it and therefore it must be preserved. The Federal Constitution of 1988 states that these goods have “reference to the identity, the action, the memory of the different groups of trainers in Brazilian society”. In this way, the listing is a way to ensure that these properties are not mischaracterized or destroyed.

However, although the government has a responsibility to protect assets, it does not need to belong to the government. As long as the property continues to be preserved, it is possible to sell, rent or even leave it as an inheritance.

However, there are some particularities related to the acquisition of these properties:

Restrictions

As previously stated, a listed property aims to protect a historic or artistic heritage and that is why there are a number of restrictions so that its preservation is guaranteed. Thus, a listed property cannot be altered without authorization from the agency responsible for its listing. These bodies vary for each state and municipality, with IPHAN (National Historical and Artistic Heritage Institute) being responsible at the federal level.

Thus, some people see the acquisition of this type of property as something negative. However, these properties can bring some benefits to their owners. Therefore, it is important to be aware of the restrictions imposed on that heritage so that there is no headache. That’s because, these restrictions vary from property to property.

Understand these variations

The restrictions on what actions can be taken on a listed property are not the same for all properties. Sometimes there may be an imposition that does not allow changes to be made only to the façade, but that does not restrict reforms inside. In other cases, it may be in relation to the interior floor, or even in the property as a whole. Therefore, it is very important to seek the competent bodies and find out about the restrictions for your property, specifically.

The costs of a listed property

Living in a listed property can be a bit expensive. This is because, eventual reforms need to be treated only as a way of preserving the characteristics of the property, which is usually a little expensive. However, it is possible to receive financial incentives to offset these costs. This is because, it is very common for city halls to give advantages to those who live in these properties, such as some tax benefit.

These benefits may vary from one municipality to another. This is because taxes on urban properties and their rates are not the same for all cities in Brazil. However, it is very common for owners of listed properties to be exempt from the Urban Land Tax (IPTU), as long as there is a good conservation of the property. Depending on where the property is located, this exemption can represent significant savings in the budget.

In addition, another benefit for the owner of a listed property concerns the right to build. As the tipping requires that the characteristics of the property are maintained, the resident is unable to build on his land. Therefore, as a form of compensation, there is another way to make a financial reserve. This means that the owner now has the right to build and other land or to sell that right.

Who is responsible for tipping a property?

Article 23 of the Constitution establishes that it is up to the Union, States and Municipalities to protect goods of historical, artistic and cultural value, preventing their destruction and mischaracterization. Knowing that the tipping is a protection instrument, it is understood that it is the responsibility of the Public Administration.

How is the tipping process?

The process of listing a property can be initiated by any citizen, characterized as an individual or legal entity, or by the sector responsible for the preservation of historical and cultural assets. After this request, a preliminary technical assessment is made to verify if the property really fits the requirements to become a property that is worthy of preservation.

If the opening of the process is approved, the owner of the property is notified and the resolution is published in the Official Gazette of the Municipality. From the moment the lawsuit is opened, the property is legally protected under the regime of preservation of listed property. This prevents the owner of the property from carrying out renovations or demolitions during the process.

The tipping is effected by an act of the Municipal Secretary of Culture with publication in the Official Gazette of the Municipality, which will be able to contest, within 15 days. After examining the disputes, it is decided whether or not the tipping will be maintained. In case of maintenance, the resolution is approved by the Mayor.

Listed property: renovations, adaptations and maintenance

Many people appreciate properties listed for their historic value. When purchasing a listed property, the great advantage is in the fact that you acquire a work of art and live in a place with a lot of added value. However, we must not forget that these properties can have problems like all the others and that their maintenance can be a little more complicated. This is because any reform or change needs to be previously approved by Organs responsible bodies, since in most cases the changes need to be exclusively for their restoration.

However, in some circumstances adaptations are allowed. That is why it is very important to check with the responsible bodies which areas of the property cannot be modified. However, even if the area to be renovated or adapted is released for such actions, it is important to notify the agencies responsible for the changes.

But after all, is it worth purchasing a listed property?

Acquiring a listed property represents for its residents some preservation costs higher than those of a common property, in addition to being homes that do not allow major renovations or adaptations. However, these properties also represent a series of benefits for their owners, such as exemption from IPTU, which can mean great savings depending on the location of the property.

In addition, contrary to what many think, it is possible to rent a listed property and many people appreciate this type of property. Due to the great appreciation of these properties it is possible to guarantee a good income from the rent. However, it is important to ensure in a contract that tenants are committed to ensuring the preservation of the property during their stay.

Thus, whether or not to purchase a listed property varies according to the objectives and needs of the buyers. An analysis of your financial situation can be a good way to understand whether it is possible for you to maintain such a property. This is because failure to preserve these properties can result in severe fines for their owners.

So, if your goal is to buy or sell a property, whether it is listed or not, you can count on Casa MineiraImóveis. With several partners, our portal has several properties and filters that guarantee a more precise search for your ideal property.