Redemption right (direito de remição)
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The direito de remição allows the debtor’s spouse, children or parents to take the property sold by paying the price of the best bid.
The direito de remição protects the family of the : it lets the property stay in the family without harming creditors, because the price paid is the same.
Those who may redeem are the spouse not judicially separated, the descendants and the ascendants of the debtor, in that order (CPC articles 842 and 845). The price is that at which the sale or award was made.
The right may be exercised until the is issued, in a sealed-bid sale, or until the assets are handed over or the title signed, in the other methods (article 843). In Tax Authority sales, redemption is recognised on the same terms (CPPT article 258).
Example
Illustrative example: a house sells at auction for €80,000. Before the transfer title is issued, the debtor's daughter declares that she wishes to redeem and deposits the €80,000. The house is awarded to her. Had the auction winner already deposited the price, the daughter would have to pay a further 5% as compensation to that bidder.
In practice, at an auction
For a bidder, redemption is an uncertainty that lasts to the end: even after winning and paying, the property may go to a relative of the debtor. In that case the deposited price is returned; if redemption happens after the deposit, the law provides for the extra 5% in the bidder's favour (article 843(2)).
Redemption takes priority over the (article 844). On e-Leilões it is exercised directly in the proceedings, before the enforcement agent, not on the platform. It is more frequent when the property is the family home.