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Island Real Estate > Brazil
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Island Real Estate in Brazil
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Brazil has almost a thousand islands, spread over 5000 miles of beaches. About half of those are completely private - meaning they have only one owner. By law, all islands are owned by the "Union" (i.e. the state - in fact, the Brazilian Navy or "Marinha", represented by the SPU: "Secretary of the Union's Patrimony"). Yet in most cases, the Navy has only retained the "naked" ownership of the land; while it has ceded all "real" rights to the property (the rights to occupy and use it, farm on it, build or develop; as well as the right to sell it) using a special type of contract called "aforamento". Under these terms, the "owner" pays an annual property tax, called "foro" of 0.6% of the islands market value. On top of this, the owner pays a "bonus" of 5% (called "laudemio") when the property changes hands. Some islands have clear documentation of all those contracts with the SPU and the payment of theses taxes, and are safe to buy. Others may have been peacefully occupied for many years (a situation called "posse"); and while it may be possible to regularize this, such ownership is more precarious and careful checking is needed. We have several islands in our listings - from $600000 to $10 million - and are happy to perform a specific search. Please contact us for further information. A few options are shown on our islands page - but most owners do not allow us to publicly list their property.
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