Finance & Fees

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MORTGAGE LOAN AMORTIZATION

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❓ Identified Question

"How is the mortgage loan amortization calculated when selling an autonomous fraction in horizontal property?"

🎯 Direct Answer

The amortization of the loan depends on the value of the fraction sold and the total amount of the loan, and it may be necessary to amortize proportionally to the value of the fraction.

Legal Basis: Artigo 1424.º do Código Civil View on DRE

Official Documentation

ARTIGO 1424.º CÓDIGO CIVIL

📋 Context & Applicability

Amortization must be carried out proportionally to the value of the fraction sold in relation to the total loan amount.

The establishment of horizontal property does not extinguish credit obligations but may affect the manner in which they are amortized.

Calculate the value of the fraction in relation to the total property.
Determine the portion of the loan to be amortized based on the sale.

✅ Technical Checklist

Verify the total amount of the loan.
Calculate the value of the fraction to be sold.
Determine the proportional amortization.

Consult the bank to verify the amortization conditions.

Consider the possibility of renegotiating the loan.

Check if there are specific clauses in the loan contract.

💡 Practical Example

Scenario: Sale of a fraction of a building with a loan of €100,000 and fraction value of €30,000.

Calculation: Amortization = (30,000 / 100,000) * Total Loan.

Result: Proportional amortization of 30% of the loan.

Legal Notice

This content is for informational purposes only and does not replace personalised legal advice.

Always confirm critical decisions with a qualified lawyer or professional.

The content is specific to Portuguese law and may not apply to other jurisdictions.

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Finance & Fees

70 questions

70 results

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How is the permillage calculated in horizontal property considering private and common areas?

Is it possible to rectify the difference in thousandths between autonomous fractions in horizontal property?

What is the correct method to assign value to an autonomous fraction in horizontal property?

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What are the administrator's obligations regarding the convening of meetings and presentation of accounts in the condominium?

Should the amount payable to the condominium administration include only the covered area of each autonomous fraction or the total area of the fraction?

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Should I continue to pay the monthly fees and contribute to the Common Reserve Fund in the absence of condominium regulations?

Should condominium fees be paid according to the thousandth share or can they be established unanimously?

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What is the quorum and voting required to approve an increase in condominium fees at a general assembly?

Is it possible to challenge a decision to increase condominium fees made at an assembly?

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Can the condominium owner demand an invoice from the condominium for the amount paid for works on common areas?

How should revenues generated from expropriation of common parts in the condominium be treated?

Am I obligated to pay maintenance expenses for common areas that are for the exclusive use of other condominium owners?

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Are new condominium owners responsible for debts incurred prior to the purchase of the autonomous fraction?

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Coimbra

What is the obligation to pay installments for exterior painting works in a condominium with units in debt?

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How is the permillage of a fraction in horizontal property calculated?

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Under what circumstances can the condominium's permillage values differ from those in the land registry?

What is the legal consequence of the discrepancy between the permillage in the land registry certificate and in the permanent certificate?

What are the rights of condominium owners regarding the ownership shares in cases of infiltration?

Is it possible to establish in the minutes of the assembly that all condominium owners pay the same amount for common works and that the vote is equal, regardless of the thousandths share?

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Is it fair to pay condominium fees based on thousandths in a condominium with units of different sizes?

What is the procedure to correct the permillage of units in a condominium when there is disagreement from a condominium owner?

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What is the correct method to calculate condominium fees based on the thousandths share?

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How is the mortgage loan amortization calculated when selling an autonomous fraction in horizontal property?

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