It is still possible to review rural debts prior to March 1990

Many rural producers have sought information about the right to review their rural notes issued in the 1980s and 1990s. These are cases involving rural mortgage notes (CRH), rural pledge notes (CRP), rural promissory notes (NPR) and rural notes pledge and mortgage (CRPH).

There is still time to receive amounts unduly paid through some procedural instruments.

The right to refund or receive amounts unduly paid to financial institutions could have been sought through individual legal action, within the framework of the 2002 Civil Code. This option ended on March 30.03.2010, XNUMX due to prescription.

There was the possibility of obtaining profitability, in the first year (1990), of more than 2,616% per month. The value increases progressively due to the capitalization of the compensation rate. This is without taking into account the variation in monetary correction linked to the INPC.

Now, the legal request can only be made directly against Banco do Brasil. Or, indirectly, against the Central Bank of Brazil – BCB, in the event that rural debts were contracted with other financial institutions.

Thus, producers who have contracted rural debt for rural costs of any nature -- or even renegotiated rural debts --, with documents issued prior to March 1990, may have the right to receive significant amounts. Renegotiations, agreements or transactions carried out through amendments, public deeds or contracts may also be reviewed.

The difference to be received is a significant 43,04% of the value of the debt paid.

However, not all rural producers who contracted rural debts at that time have the right to refund the debt. Each case must be analyzed. The documents to which the debts refer and their renegotiations must be evaluated.

Any loss of rural producer status is irrelevant; does not prevent the entry of the judicial measure. The distance from the harvest location or the bank branch that received the amounts and the rural producer's domicile does not matter. Nor do they deter the pursuit of law.

By Dr. Rafael M.C. Toffoli; Dr. Selma Cristina Gestal Paes; lawyers from Toffoli Cassebe Lawyers