Law No. 14,711, of October 30, 2023, brought a series of changes that aim to improve the rules on real guarantees, such as fiduciary alienation and mortgage.
Greater clarity is expected in the procedure for executing guarantees and, therefore, faster receipt by creditors.
Among the main modifications, we can mention:
The possibility of establishing a subsequent fiduciary transfer, which will become valid upon cancellation of the immediately preceding fiduciary transfer. The new wording also allows the fiduciary debtor to obtain a new loan secured by the same property;
The definition, in law, of the guarantee agent, a figure brought from contractual practice whose purpose is to act in its own name, but in the interest of creditors, to register the guarantees and execute them when necessary;
The creation of procedures for the extrajudicial execution of guarantees that fall on movable property, with search and seizure subject to a court order;
Creditors’ competition and other rules for extrajudicial execution of guarantees on real estate.
The modifications are expected to contribute to greater access to credit, as well as to a reduction in interest rates, given the improvement brought about in the predictability of receipt, through the execution of guarantees.
