Sunday, January 29

Real Estate Fund seeks cryptocurrencies from shopkeeper who stopped paying rent

The manager of a real estate fund is looking for cryptocurrencies from a shopkeeper who stopped paying rent in São Paulo. Real estate fund is understood to be the condominium of investors who pool their resources to allocate in the real estate market.

In Brazil, in recent years, this type of investment has attracted a lot of people’s attention due to its possibility of being a passive income.

When buying a share in a fund, participants expect to purchase or build real estate, receiving percentages of the gains. For investors, this is a way to get paid for rent without actually owning the property.

But for that, a fund manager has to deal directly with the operational problems that involve the practice, including in justice.

Mall real estate fund seeks cryptocurrency from shopkeeper who stopped paying rent

In 2019, the Hedge Atrium Shopping Santo André Fundo de Investimento Imobiliário – Fii, based in the state of São Paulo, filed an eviction order against a former tenant. This Fii manages 100% of Shopping Santo André.

In January 2019, the local justice ordered the debtor shopkeeper to point out a guarantee for her three-month rent debt, which ended up not happening. From there, the Investment Fund began to look for values ​​in the company’s accounts to block, with the approval of justice.

Searches were carried out at BacenJud in 2019 and 2020, locating amounts in Banco do Brasil, which added up to just over R$ 1 thousand. However, the value of the case is around R$ 56,167.08, that is, the debtor continues to be sought by justice and her assets continue to be sought.

This Monday (17), the court authorized the search for cryptocurrencies by the real estate fund, which will now begin issuing official letters to brokerages in search of these assets. The judge said companies that refuse to comply with the court order could face a fine.

“I grant, authorizing the applicant to proceed with cryptocurrency exchanges to obtain information about the assets on behalf of the defendant”.

Why search for cryptocurrencies?

The search for cryptocurrencies on behalf of companies and people who owe them began to be approved by the courts a few years ago. This is because, as the legitimacy of the digital currency market as an investment and means of payment is already recognized in searches like this.

In the case in question, it is unclear what data was presented by the Real Estate Fund for the judge to authorize the search for cryptocurrencies on behalf of the debtor. However, it is not all cases that these requests are approved.

Recently, a decision denied the request to officiate cryptocurrency brokers, as the man did not have the profile of an investor in this market, having been in prison for four years.