Rustic property located at Zimbreiros (Insolv. Sociedade Imobiliária da Assomada)

Rustic property located at Zimbreiros, registered at the Santa Cruz Land Registry Office under number 1440 of the parish of Caniço and listed in the rural property register under land registry article 51, section SS of the said parish.
The location of the property indicated by the platform does not correspond to the GPS location, which is as follows: 32º38'58.9''N ; 16º49'23.7'' W (Latitude 32.649687 and Longitude 16.823235).

The lot is sold in its physical, legal and documentary state as it currently stands. The areas indicated are based on the land registry certificate, and the Insolvent Estate is not responsible for any discrepancies. It is the sole and exclusive responsibility of the Purchasing Bidder to verify the characteristics of the asset to be acquired; therefore, before submitting a bid, the bidder must ensure that it meets their expectations and is in the conditions sought. The property is sold in the state in which it stands, so the failure of the bidder to carry out this verification does not, under the law, result in the annulment of the sale. Carrying out visits to the property, being a rustic property, is the exclusive responsibility of the Purchasing Bidder. Pursuant to article 164(6) of the CIRE and article 833(6) of the CPC, it is the obligation of the purchaser to carry out any necessary legalisation of the properties, where applicable. All costs arising from the formalisation of the acquisition shall be borne by the purchaser. The deed of sale will only be executed with the party submitting the bid and not with third parties whom that party may nominate. The deed of sale will be executed on a date and at a time to be set by the Judicial Administrator, at a notary's office and location to be designated by them. As an alternative to the public deed of sale, the Judicial Administrator may issue a Private Transfer Title for the property in question. The minimum accepted amount is that stated in «VALOR MÍNIMO» and not the opening value. Once the auction has closed, the Judicial Administrator will contact the Winning Bidder with the bank details for payment of 20% (twenty per cent) of the winning bid amount, so that the corresponding Adjudication Record [Auto de Adjudicação] can be issued. Once payment has been made, the proof of payment must be sent to the Judicial Administrator so that they may issue that record. The Adjudication Record allows the Winning Bidder to pay the tax obligations arising from the sale. The tax payment forms issued by the Tax and Customs Authority, together with their proofs of payment, must be sent to the Judicial Administrator, as well as proof of payment of the remaining balance of the price, to enable the formalisation of the sale (public deed or private transfer title). Where a private transfer title is issued, payment of the remaining balance of the price will always be made before the title is delivered to the buyer. The Adjudication Record serves only the purpose indicated and does not constitute any transfer of any property right. The final award of this asset may be affected by the exercise of the right of redemption, pre-emption, or any other applicable right, as provided by law.
Please note that the company Promosolution – Promoção Imobiliária Lda, NIPC/MATRÌCULA 513962050, with its registered office at Rua da Alfândega, n.º 10, 6.º-A, 9000-059 Funchal, has exercised its right of pre-emption over this property, which the Administrator of the Insolvent Estate and the largest creditor have accepted to exist.