Mixed-use property, at Zimbreiros (Insolv. Sociedade Imobiliária da Assomada)

Mixed-use property, located at Zimbreiros, registered at the Santa Cruz Land Registry Office under number 3884 of the parish of Caniço and listed in the rustic property tax register under article 47, section SS, and in the urban property tax register under article 1557, both of the said parish.
The property location shown on the platform does not match the following GPS location: 32º38'58.0''N ; 16º49'24.4''W (Latitude 32.649439 and Longitude 16.823441).

The lot is sold in its current physical, legal and documentary condition. The areas indicated are based on the land registry certificate, and the Insolvent Estate is not liable for any discrepancies. It is the sole and exclusive responsibility of the Buyer Bidder to verify the characteristics of the asset to be acquired, and therefore, before submitting a bid, they must make sure that it meets their expectations and is in the desired condition. The property is sold in its current state, so failure to carry out this verification by the bidder does not, under the law, result in the annulment of the sale. Carrying out visits to the property, being a rustic property, is the sole responsibility of the Buyer Bidder. Under article 164(6) of the CIRE and article 833(6) of the CPC, it is the acquirer's obligation to carry out any necessary legalisation of the properties, where applicable. All costs associated with the formalisation of the purchase shall be borne by the acquirer. The deed of sale will only be executed with the party who submitted the bid and not with third parties whom they may indicate. The deed of sale will be executed on a date and at a time to be set by the Judicial Administrator, and at a notary's office and location to be designated by them. As an alternative to a 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. After the auction closes, the Judicial Administrator will contact the Winning Bidder with the bank details for payment of 20% (twenty per cent) of the winning bid, 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 proceed with that issue. The adjudication record allows the Winning Bidder to pay the tax obligations arising from the sale. The payment slips issued by the Tax and Customs Authority, together with the corresponding proofs of payment, must be sent to the Judicial Administrator, as must proof of payment of the remaining balance of the price, so as to enable the sale to be formalised (public deed or private transfer title). In the case of a private transfer title, payment of the remaining balance of the price will always be made before the title is handed over to the buyer. The adjudication record serves only the purpose indicated and does not constitute any transfer of any property right. The final adjudication of this asset may be affected by the exercise of the right of redemption, pre-emption, or any other applicable right, in accordance with the law.
Please note that the company Promosolution – Promoção Imobiliária Lda, NIPC/MATRÌCULA 513962050, with 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 principal creditor have accepted as valid.