Patrimônio rural em afetaçãonovo direito real de garantia?

Resumo

This paper purposes to analyze the legal framework for the Designated Rural Property (“Patrimonio Rural em Afetação”), a security interest regime established by the Law No 13,986/2020, which brought to the agribusiness market the possibility for real estate owners to resort to asset separation as means to guarantee the payment of specifics bonds that finance the Brazilian agribusiness – Rural Product Bonds (“Cédula de Produto Rural – CPR”) and Rural Real Estate Note (“Cédula Imobiliária Rural - CIR”). It will be analyzed the concepts, goals and the circumstances under which the Designated Rural Property was created, in order to identify distinguishing features of that novel legal category in comparison to other kinds of assets segregations in Brazilian jurisdiction, that were taken as reference when the Designated Rural Property was conceptualized. To conclude, the paper demonstrates that the Designated Rural Property is more related to the asset separation arising from agreements involving in rem security interests and fiduciary property, than to the asset segregation provided in the legislation governing real estate development. That conclusion has two main consequences. On the one hand, it reveals the Designated Rural Property as source of legal rights as strong as an in rem security interests in the assets that guarantee the bonds related to the agribusiness. On the other hand, it points to an unexpected weakening of the Law No 13,986/2020 policy goal to exclude the segregated asset from the effects of the rural producer‘s insolvency under the Brazilian judicial reorganization procedure.

Ficha do documento

Tipo

Dissertação

Ano

2021

Instituição

Fundação Getulio Vargas

Fonte

Repositório da FGV

Idioma

Português

Acesso

Acesso aberto

Identificador

oai:repositorio.fgv.br:10438/31454

Palavras-chave

Designated rural propertySeparate assetsRural product bondsRural Real Estate NoteGuarantees in remFiduciary ownershipPatrimônio rural em afetaçãoPatrimônio de afetaçãoCédula de Produtor RuralCédula Imobiliária RuralDireito real de garantiaPropriedade fiduciáriaDireitoPropriedade ruralFidúciaGarantia (Direito)