Notice of a property affected by an insolvency proceeding

1. Does your national system admit such restriction?

This land register system  envisages this kind of notice or includes the possibility of registering a notice as such.

2. In your system, once registered this restriction, does it block or freeze subsequent registrations (mostly the ones promoted by the owner of the property) until being removed?

Once registered this restriction, it implies a warning to third parties but does not block or freeze subsequent registrations.

It is a matter of non-opposability towards the procedure

3. In your system, in principle, will the registration of this restriction be temporary (under a deadline) or indefinitely (it will be in force until being removed)?

In this system the duration of the registration of this restriction will be indefinite (until removed or deleted)

However, before the final decision declaring the insolvency is registered regarding the seizing of the assets belonging to the insolvent

4. Indicate the national legal sources about this judicial restriction

• Article 38 of the “Insolvency and Company Recovery Code” approved by Executive Law No. 53/2004 March 18”

5. Please, give us an idea about the characteristics of the registration of this restriction in your system

In Portuguese Land Registry the judicial declaration of insolvency is registered regarding the seizing of the assets belonging to the insolvent