Lei nº 4.864, de 29 de novembro de 1965 — Cria medidas de estímulo à Indústria de Construção Civil (Law No. 4,864 of 29 November 1965 — Creates measures to stimulate the civil construction industry)

English translation of the Portuguese text from planalto.gov.br (the Portuguese text is the official one). Retrieved 2026-10-26.

Presidency of the Republic

Civil House

Deputy Office for Legal Affairs

LAW No. 4.864, OF 29 NOVEMBER 1965.

.

Creates Measures to Stimulate the Civil Construction Industry

THE PRESIDENT OF THE REPUBLIC, I make known that the National Congress decrees and I sanction the following Law:

Art. 1 Without prejudice to the provisions of Law No. 4.591, of 16 December 1964, contracts whose object is the sale or construction of housing with payment in installments may provide for the monetary correction of the debt, with the consequent readjustment of the monthly installments of amortization and interest, observing the following rules:

I - Only contracts of sale, promise of sale, assignment and promise of assignment, or of construction, whose object is constructed real property or land whose construction is contracted, including autonomous units and respective ideal quotas of land in a building or set of buildings incorporated in condominium, may be corrected.

II - The financed part, subject to monetary correction, shall be paid in monthly installments of equal value, including amortization and interest agreed at the maximum rate set by the National Monetary Council, it being permitted to set in the contract the installments after delivery of the autonomous unit at a value different from that of those before delivery, and it is prohibited to correct the value of intermediate installments, if any, and of the outstanding balance corresponding to them, except for the installment linked to delivery of the keys, provided that it is not initially greater than 10% (ten percent) of the original value of the financed part.

III - The outstanding balance and the installments shall be corrected in periods of not less than 6 (six) months based on price indices determined by the National Economic Council, or by the Getúlio Vargas Foundation, and the contract shall indicate in detail the conditions of the readjustment and the agreed index.

IV - The readjustment of the installments may not enter into force before 60 (sixty) days have elapsed from the end of the month of the correction.

V - Under the conditions provided for in the contract, the purchaser may pay off the debt or part of it early.

VI - Termination of the contract due to default by the purchaser may occur only after a delay of at least 3 (three) months from the due date of any contractual obligation or of 3 (three) monthly installments, ensuring the debtor the right to cure the default within 90 (ninety) days, counted from the date of maturity of the unfulfilled obligation or of the first unpaid installment.

VII - In the cases of termination referred to in the previous item, the seller may promote the transfer to a third party of the rights arising from the contract, observing, insofar as applicable, the provisions of §§ 1 to 8 of art. 63 of Law No. 4.591, of 16 December 1964, with the seller, for this purpose, being vested with the powers conferred by those provisions on the Committee of Representatives.

VIII - VETOED ...

IX - VETOED ...

§ 1 The contracts for acquisition of real property referred to in art. 63 of Law No. 4.728, of 14 July 1965, may provide for monetary correction under the terms of item III of this article.

§ 2 The nominal differences in the principal of the contracts referred to in this article and its paragraphs, resulting from monetary correction, shall not constitute taxable income for income tax purposes.

§ 3 In the cases and under the conditions approved by the National Monetary Council, the entities belonging to the housing finance system may operate with the correction clauses provided for in this article, whether in active or passive obligations.

Art. 2 When the value of the real property, in the contracts referred to in the previous article, does not exceed 300 (three hundred) times the highest monthly minimum wage in force in the Country, it shall be mandatory to contract, along the lines recommended by the National Housing Bank, as an integral part of the contracts and during their term, temporary income life insurance in the name and for the benefit of the purchaser.

Sole paragraph. In contracts with a value greater than 200 (two hundred) and up to 300 (three hundred) times the highest minimum wage in force in the Country, compliance with the provisions of this article shall be optional, at the purchaser's discretion, when the contract contains the express commitment of the seller to offer the purchaser's estate the option, for 90 (ninety) days, between continuing with the unit under the conditions of the contract or receiving, within a period equal to its term, the return of all installments paid, with the respective monetary correction and interest at the rate that is agreed.

Art. 3 In cases of termination, due to fault of the seller, of the contracts referred to in art. 1, the indemnity to which the purchaser is entitled shall be monetarily corrected until its effective payment according to the same correction indices set in the terminated contract.

Art. 4 Items I, II and III of art. 12 of Law No. 4.380, of 21 August 1964, shall have the following wording:

I - at least 60% (sixty percent) of the funds must be invested in housing with a unit value lower than 300 (three hundred) times the highest monthly minimum wage in force in the Country;

II - at most 20% (twenty percent) of the funds may be invested in housing with a unit value greater than 400 (four hundred) times the highest monthly minimum wage in force in the Country;

III - investments in housing with a unit value greater than 500 (five hundred) times the highest monthly minimum wage in force in the Country shall be prohibited."

Art. 5 Art. 2 of Law No. 4.591, of 16 December 1964, is amended by the following paragraphs:

"§ 1 The right to keep vehicles in garages or places intended for that purpose in buildings or sets of buildings shall be treated as an object of exclusive property, with the exception of restrictions imposed on it by appropriate contractual instruments, and shall be linked to the housing unit to which it corresponds, in the case where no specific ideal fraction of land is attributed to it.

§ 2 The right referred to in § 1 of this article may be transferred to another condominium owner, regardless of the alienation of the unit to which it corresponds, and its transfer to persons outside the condominium is prohibited.

§ 3 In garage buildings, the parking spaces shall be assigned specific ideal fractions of land".

Art. 6 In the case of a set of buildings referred to in article 8 of Law No. 4.591, of 16 December 1964, the splitting of the incorporation into several incorporations may be stipulated, with the condominium convention or prior contract fixing, when the incorporation is still subject to grace periods, the rights and property relations among condominium owners of the various buildings.

Art. 7 Art. 9 of Law No. 4.591, of 16 December 1964, is amended by the addition of the following paragraph:

" § 4 In the case of a set of buildings referred to in art. 8, the condominium convention shall fix the rights and property relations among the condominium owners of the various buildings, and may stipulate the forms by which portions of the land, including built portions, may be divided and alienated".

Art. 8 Art. 18 of Law No. 4.591, of 16 December 1964, shall take effect with the following wording:

"Art. 18. The expropriation of buildings or sets of buildings shall always cover their entirety, with all their dependencies, and the owners of the expropriated units shall be indemnified".

Art. 9 The provisions of arts. 28 et seq. of Law No. 4.591, of 16 December 1964, do not apply to incorporations begun before 10 March 1965.

§ 1 For the purposes of this article, the beginning of the incorporation is characterized by the sale, promise of sale, assignment or promise of assignment of an ideal quota of land linked to a construction project, or by the construction contract signed by the incorporator or by a purchaser.

§ 2 The contract instruments referred to in the preceding paragraph shall prove the beginning of execution of the incorporation only when the respective stamp tax has been paid before the date of this Law.

Art. 10. art. 32 of Law No. 4.591, of 16 December 1964, shall take effect with the addition of the following paragraphs:

"§ 8 The Real Estate Registry Officer who does not observe the periods provided for in § 6 shall be subject to a penalty imposed by the competent judicial authority in an amount equal to the fees due for the registration referred to in this article, applicable for each fortnight or fraction of a fortnight by which each of those periods is exceeded.

§ 9 The Real Estate Registry Officer shall not be liable for the accuracy of the documents presented to him for filing in compliance with the provisions of items e, g, h, l, and p of this article, provided they are signed by the professional responsible for the work.

§ 10 The plans of the approved project (item d of this article) may be presented in a copy certified by the professional responsible for the work, accompanied by a copy of the construction license.

§ 11 Until 30 June 1966, if, within 15 (fifteen) days of delivery to the Real Estate Registry Office of the complete documentation provided for in this article, made by letter sent by the Titles and Documents Office, the Real Estate Registry Office has not delivered the certificate of filing and registration, nor formulated in writing the requirements provided for in § 6, the provisional registration shall be considered completed by operation of law.

§ 12 The provisional registration provided for in the preceding paragraph authorizes the incorporator to negotiate the units of the incorporation, indicating in its publication the number of the Titles and Documents Registration referring to the remittance of the documents to the Real Estate Registry Office, without prejudice, however, to its liability to the purchaser of the unit and to the obligation to satisfy the requirements subsequently formulated by the Registry Office, as well as to complete the definitive registration".

Sole paragraph. The items of art. 32 of Law No. 4.591, of 16 December 1964, are added the following:

"p) declaration, accompanied by explanatory plans, on the number of vehicles the garage accommodates and the places intended for their storage".

Art. 11. Art. 65 of Law No. 4.591, of 16 December 1964, shall take effect with the addition of the following paragraph:

"§ 3 At any stage of the criminal proceeding referred to in this article, the arrest of the accused shall always depend on a warrant from the Court referred to in § 2.

Art. 12. The validity period of the registration of the incorporation referred to in art. 33 of Law No. 4.591, of 16 December 1964, is raised to 180 (one hundred and eighty) days.

(Revoked by Provisional Measure No. 1.085, of 2021)

(Revoked by Law No. 14.382, of 2022)

Art. 13. The maximum period granted to the incorporator in art. 35 of Law No. 4.591, of 16 December 1964, is 60 (sixty) days.

Art. 14. Until 31 December 1966, the civil construction industry unions, in their respective territorial bases, shall comply with the provisions of art. 54 of Law No. 4.591, of 16 December 1964, based on criteria, standards and types of standardized buildings that they adopt, through their own or contracted studies.

Sole paragraph. The incorporator, when preparing the evaluation of the global cost of the work to comply with the provisions of item h of art. 32 of Law No. 4.591, of 16 December 1964, shall use the unit cost, published by the union in the form of this article, referring to the type of standardized building that most closely approximates the building object of the incorporation.

Art. 15. The Central Bank shall maintain a compensation fund for exchange and monetary variations relating to foreign loans for the financing of projects or plans for the construction and sale of housing in the Country.

(Revoked by Decree-Law No. 283, of 1967)

§ 1 The Central Bank is responsible for the prior approval of foreign loan contracts for the purposes provided for in this article.

(Revoked by Decree-Law No. 283, of 1967)

§ 2. The Central Bank may ensure to borrowers of foreign loans approved under the terms of the previous paragraph the acquisition of foreign exchange for settlement of amortization and interest charges at contracted rates, monetarily updated according to the same indices and correction conditions provided for in Law No. 4.380, of 21 August 1964, and in this Law.

(Repealed by Decree-Law No. 283, of 1967)

§ 3. Any differences between the exchange rates resulting from the updating referred to in the previous paragraph and the rates effectively paid for settlement of the external obligations shall be compensated in the fund provided for in this article, and the final existing balance shall belong to the National Treasury, or shall be its responsibility.

(Repealed by Decree-Law No. 283, of 1967)

§ 4. The loans referred to in this article that are intended for entities belonging to the housing finance system shall be submitted to the National Housing Bank and, only after its pronouncement, presented to the Central Bank for the purposes of § 1.

(Repealed by Decree-Law No. 283, of 1967)

§ 5. The investment banks referred to in art. 29 of Law No. 4.728, of 14 July 1965, may on-lend, in the currency of origin or by means of an exchange parity clause, the loans they contract abroad registered with the Central Bank.

(Repealed by Decree-Law No. 283, of 1967)

§ 6. All financial transfers resulting from the provisions of this article are not subject to any financial charges or compulsory loans.

(Repealed by Decree-Law No. 283, of 1967)

Art. 16. Art. 13 and its paragraphs of Law No. 4.506, of 30 November 1964, shall take effect with the following wording:

"Art. 13. The amounts paid or credited by legal entities to natural persons, by way of interest, the amount of which exceeds, in each half-year, Cr$15,000 (fifteen thousand cruzeiros), are subject to withholding income tax at the rate of 10% (ten percent).

Sole paragraph. The amounts withheld under the terms of this article shall be deducted from the tax determined in the annual return of the natural person."

Art. 17. Law No. 4.494, of 25 November 1964, does not apply to leases of real property whose "habite-se" is granted after the publication of this Law, and the agreement between the parties is free, and monetary correction of rents is permitted, in the manner and by the indices that the contract determines.

(Repealed by Law No. 6.649, of 1979)

Sole paragraph. Upon expiration of the lease term of the property referred to in this article, or in the case of its lease for an indefinite term, the lessee notified to surrender it, because it is not convenient for the lessor to continue the lease, shall have a period of 3 (three) months to vacate it, if it is urban.

(Repealed by Law No. 6.649, of 1979)

Art. 18. In the construction of real property, the stamp tax shall be collected in the month following the end of each calendar half-year, calculated on the amount received by the builder during the closed calendar half-year, by way of payment of the price of the work or remuneration for the services agreed upon.

§ 1. Construction contracts by administration, for the purposes of the stamp tax, are treated as those for labor-only contracting.

§ 2. The provisions of letter K of note 7 of subitem I of Annex I of Law No. 4.505, of 30 November 1964, apply to the financing of the sale of movable property intended for the construction of real property in which the purchaser is the condominium referred to in item I of art. 58 of Law No. 4.591, of 16 December 1964.

§ 3. The stamp tax shall not apply to the obligations referred to in item II of art. 58 of Law No. 4.591, of 16 December 1964, including the payment of penalties applied under the provisions of §§ 8 and 9 of art. 63 of the same Law, as well as to the use of such resources in payment of debts for which the condominium is responsible, whether done directly by the Committee of Representatives or not.

§ 4. Subrogations, assignments or transfers of construction contracts shall be taxed on the amount received by the builder from the end of the previous calendar half-year until the date of the subrogation, assignment or transfer.

Art. 19. In contracts of sale, promise of sale, assignment or promise of assignment of real property for payment in a period exceeding two years, the seller, assignor, promissory seller or assignor shall be responsible for payment of the stamp tax, whenever it is a legal entity.

§ 1. In the real estate contracts referred to in art. 63 of Law No. 4.728, of 14 July 1965, the acquiring real estate company shall be responsible for payment of the tax.

§ 2. In the contracts referred to in this article and its § 1, the stamp tax shall be collected in the month following the end of each calendar half-year, calculated at the rate of 1% (one percent) on the total amount of the installments effectively settled in the expired half-year.

Art. 20. The Central Bank may authorize credit and financing companies to transform themselves into real estate credit companies, with the characteristics attributed to them by Law No. 4.380, of 21 August 1964, or to maintain a portfolio specialized in the operations proper to real estate credit companies.

§ 1. The National Monetary Council shall be responsible for regulating the access of real estate credit companies to the capital or financial market and for setting the conditions they must observe in their active and passive operations.

§ 2. The Central Bank shall be responsible for the registration, authorization to operate, supervision and all other measures provided for in Law No. 4.380, of 21 August 1964, for the operation of real estate credit companies.

§ 3. When the National Monetary Council meets for the purposes referred to in § 1, the President of the B.N.H. shall participate in the meeting, with the right to vote.

§ 4. Under the conditions established by the National Monetary Council, the financial entities referred to in this article may operate in an integrated system of savings and loan accumulation, applying the provisions of § 1 of art. 7 of Law No. 4,728, of July 14, 1965.

Art. 21. In their real estate credit operations, the Savings Banks, after consulting the Superior Council of Federal Savings Banks, shall give preference to the financing of private initiative projects for the construction and sale on terms, in buildings, or a group of buildings, of housing units of social interest, or destined for middle-income classes.

§ 1. In the operations provided for in this article, the Savings Banks may finance, through the opening of credit to be used by the entrepreneur, as the housing units are delivered, with a prior promise of financing contract being permitted.

§ 2. Under the conditions that the Superior Council of Federal Savings Banks shall establish, the use, before delivery of the units and based on the execution of the work, of up to 60% (sixty percent) of the contracted financing may be permitted.

§ 3. In the operations referred to in §§ 1 and 2 of this article, it may be provided that the nominal value of the scheduled disbursements be monetarily updated as of the date of their effective delivery to the financed party.

§ 4. In the operations provided for in §§ 1 and 2 of this article, the monetary correction of the debt and the interest charged shall apply only to the outstanding balance of the portion of the financing that has been effectively carried out.

§ 5. The provisions of this article and its paragraphs may be applied in operations contracted directly with natural persons.

Art. 22. The credits opened under the terms of the previous article by the Savings Banks, as well as by real estate credit companies, may be secured by the pledge, the partial assignment or the fiduciary assignment of the rights arising from the contracts of alienation of the housing units comprising the financed project.

§ 1. In the openings of credit secured by the pledge referred to in this article, if the contract is terminated due to default by the financed company, the creditor shall have the right, independently of any judicial procedure and with preference over all other creditors of the financed company, to receive the pledged credits directly from the purchasers of the housing units, until the final settlement of the secured credit.

§ 2. In the partial assignment referred to in this article, the creditor is the holder of the assigned rights in the percentage provided for in the contract, and may, through communications to the purchaser of the housing unit, directly demand payment, in each installment, of its percentage in the assigned rights.

Art. 23. In the fiduciary assignment as security referred to in art. 22, the creditor is the fiduciary holder of the assigned rights until the settlement of the secured debt, with the debtor continuing to exercise the rights in the name of the creditor, according to the conditions of the contract and with the responsibilities of a depositary.

§ 1. In the event of default on the secured obligation, the fiduciary creditor may, through communication to the purchasers of the housing units, begin to exercise directly all rights arising from the assigned credits, applying the amounts received to the payment of its credit and the expenses arising from collection, and delivering to the debtor any balance ascertained.

§ 2. If the amount received in the realization of the assigned rights is insufficient to pay the credit of the fiduciary creditor, as well as the expenses referred to in the previous paragraph, the debtor shall remain personally obligated to pay the remaining balance.

§ 3. Any clause that authorizes the fiduciary assignee to retain the rights assigned as security, if the debt is not paid at its maturity, shall be null and void.

§ 4. The fiduciary assignment as security shall only be valid against third parties after its instrument, public or private, whatever its value, has been filed by copy at the Registry of Titles and Documents.

Art. 24. Under the conditions established by the National Monetary Council, real estate credit companies may operate in the financing modalities referred to in arts. 21 and 22, through acceptance of adjustable bills of exchange drawn by the financed company, whose values and maturities, corresponding to the pledged rights, have been partially assigned, or assigned fiduciarily as security.

Art. 25. Art. 11 of Law No. 4,380, of August 21, 1964, shall come into force with the following wording:

"Art. 11. The resources destined to the housing sector by state entities, including mixed-capital companies in which the Public Power is the majority, shall be distributed, permanently, as follows:

I - in housing of unit value less than 100 (one hundred) times the highest monthly minimum wage in force in the country, a minimum percentage of resources to be established, biennially, by the National Housing Bank, based on market and regional conditions, and by institution or type of institution.

II - in housing of unit value between 300 (three hundred) and 400 (four hundred) times the highest minimum wage in force in the country, at most 20% (twenty percent) of the resources, with investments in housing of unit value greater than 400 (four hundred) times the aforementioned highest minimum wage being prohibited.

§ 1. Within the limit of resources mandatorily applied in housing of unit value less than 100 (one hundred) times the highest minimum wage in the country, the National Housing Bank shall establish, for each region or locality, the minimum percentage of resources that must be applied in the financing of projects destined to the elimination of slums, shacks and other agglomerations in subhuman housing conditions.

§ 2. In the applications referred to in item II, the financed portion of the property value may not exceed 80% (eighty percent) thereof.

§ 3 The resources applied or with contracted application, in the housing sector, on the date of publication of this Law, by state entities, including mixed-capital companies, shall not be computed in the application percentages referred to in this article.

§ 4 The provisions of this article do not apply to the processes of the Federal Savings Banks, Military Savings Banks and IPASE, already granted by the competent bodies and authorities, on the date of publication of this Law.

§ 5 Depending on market conditions and regions, the National Housing Bank may alter the criteria for distribution of the applications provided for in item II of this article".

Art. 26. Art. 23 of Law No. 4.380, of 21 August 1964, shall have the following wording:

"Art. 23. The construction of residential buildings, whose cost exceeds 850 times the highest minimum wage in force in the Country, considering this cost for each residential unit, whether in an individual building or in apartment buildings or villas, is subject to the payment of a subscription by the owner, promissory purchaser or promissory assignee of the respective land, of real estate letters issued by the National Housing Bank, with the characteristics of art. 45 of this Law.

§ 1 The amount of this subscription shall be 5% (five percent) on the value of the construction, when it is between the limits of 850 and 1,150 times the highest minimum wage in force in the Country at the time of granting the respective "habite-se" and 10% (ten percent) on the amount exceeding such limit.

§ 2 Municipal authorities, before granting the "habite-se" for residential buildings, shall require from the builder a declaration of its effective cost and, when applicable, from the owner proof of compliance with the provisions of this article.

§ 3 Only municipalities that comply with the provisions of this article may enjoy the benefits and advantages provided for in this Law".

Art. 27. §§ 2 and 3 of art. 52 of Law No. 4.380, of 21 August 1964, shall have the following wording:

"§ 2 The value in current cruzeiros of the Standard Unit of capital shall be adjusted semiannually, based on the indices of the National Economic Council, referred to in art. 5, § 1, of this Law.

§ 3 The adjustments shall enter into force 60 (sixty) days after the publication of the indices referred to in the previous paragraph".

Art. 28. § 2 of art. 1 of Law No. 4.494, of 25 November 1964, shall remain in force split into §§ 2 and 3 and with the following wording:

(Repealed by Law No. 6.649, of 1979)

"§ 2 This Law does not apply to leases for non-residential purposes, which shall be governed by the Civil Code or by Decree No. 24.150, of 20 April 1934, as the case may be, with monetary correction of rents permitted in the form and by the indices that the contract establishes, or in the absence of stipulation, by judicial arbitration, every two years.

§ 3 In the event that a renewal action for leases governed by Decree No. 24.150, of 20 April 1934, is not filed within the legal period, the conditions of renewal, as well as the setting and revision of rent, shall be subject to the Civil Code, if the lessor does not intend to take back the property".

Art. 29. Modifications, additions and improvements to a building under construction, as well as special finishes and complementary parts of the respective autonomous units, including permanent decoration, shall be considered integral parts of the work, for tax purposes, when executed, in each unit, before its respective delivery.

Art. 30. All applications of the housing finance system, including state and parastatal entities and mixed-capital companies in which there is majority participation of the Public Power, in financing the construction or acquisition of housing units, shall be mandatorily made with the stipulation of monetary correction, in accordance with arts. 5 and 6 of Law No. 4.380, of 21 August 1964, and § 3 of art. 1 of this Law.

Sole paragraph. The employee or authority who fails to comply with the provisions of this article shall incur the penalties applicable to action or omission practiced in the exercise of public offices or functions, classifiable among administrative responsibilities, as stipulated in the Statute of Public Employees.

Art. 30. All operations of the Housing Finance System, to be carried out by state and parastatal entities and mixed-capital companies, in which there is majority participation of the Public Power, even when not part of the Housing Finance System in financing the construction or acquisition of housing units, shall be mandatorily corrected in accordance with the indices and rules established in conformity with this Law, revoked the paragraphs

a

and b of art. 6 of Law No. 4.380, of 21 August 1964.

(Wording given by Law No. 5.049, of 1966)

§ 1 The employee or authority who, by action or omission, in the exercise of the functions of their office fails to comply with the provisions of this article shall incur the penalties provided for in the Statute of Public Civil Employees of the Union.

(Included by Law No. 5.049, of 1966)

§ 2 The indices and criteria of monetary correction mentioned in this article and established by the National Economic Council, according to rules established by the National Housing Bank, apply to §§ 2 and 3 of art. 52 of Law No. 4.380, of 21 August 1964.

(Included by Law No. 5.049, of 1966)

§ 3 - The housing units whose occupants have opted for their purchase or do so within 90 (ninety) days from the date of publication of this Law are exempt from the monetary correction referred to in this article, provided that they have undergone revaluation in the construction cost price.

(Included by Law No. 5.049, of 1966)

Art. 31. The following are exempt from the consumption tax: prefabricated houses and buildings, including their respective components when intended for assembly, consisting of wall, floor and roof panels, piles, footings, pillars and beams, provided they form an integral part of a unit supplied directly by the prefabrication industry and provided that the materials used in the production of these components, when subject to the tax, have been regularly taxed.

Art. 31. The following are exempt from the tax on industrialized products: prefabricated houses and buildings and their components, when intended for assembly, whether consisting of wall, floor and roof panels, piles, footings, pillars and beams, and form an integral part of the unit supplied directly by the prefabrication industry, as well as concrete preparations and blocks intended for use in hydraulic or civil construction works, provided that the materials used in the industrialization of these components have been regularly taxed, where applicable.

(Wording given by Decree-Law No. 400, of 1968)

Art. 31 - The following are exempt from the tax on Industrialized Products:

(Wording given by Decree-Law No. 1.593, of 1977)

I - prefabricated buildings (houses, hangars, towers and bridges);

(Included by Decree-Law No. 1.593, of 1977)

II - the components, listed by the Minister of Finance, of the products referred to in the previous item, provided they are intended for the assembly of those products and are supplied directly by the prefabricated building industry;

(Included by Decree-Law No. 1.593, of 1977)

III - concrete preparations and blocks, as well as metal structures, listed or defined by the Minister of Finance, intended for use in hydraulic or civil construction works. (Included by Decree-Law No. 1.593, of 1977)

§ 1 - The exemption of the products referred to in this article does not exclude the taxation of raw materials, intermediate products and packaging material used in their industrialization.

(Included by Decree-Law No. 1.593, of 1977)

§ 2 - Metal structures, as well as the components of the products referred to in item I, when derived from steel, are excluded from the provisions of this article if supplied directly by the steel establishments referred to in Decree-Law No. 1.547, of 18 April 1977.

(Included by Decree-Law No. 1.593, of 1977)

Art. 32. VETOED ...

Sole paragraph. VETOED ...

Art. 33. VETOED ...

Art. 34. The stamp tax shall not apply to the following obligations relating to real estate transactions:

a) financing promise agreements in which one of the parties is a financial institution;

b) letters of intent for financing in which one of the parties is a financial institution;

c) assignment of rights that constitutes fulfillment of a promise of assignment of rights already taxed;

d) option to purchase or sell real property;

e) advances or reimbursements made by the owner to the builder for payment of debts for which the owner is responsible.

Art. 35. This Law enters into force on the date of its publication.

Art. 36. Provisions to the contrary are revoked.

Brasília, 29 November 1965; 144th of Independence and 77th of the Republic.

H. CASTELLO BRANCO

This text does not replace the one published in the Official Gazette of 30.12.1965

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