SAO PAULO Feb 8 The Brazilian government will
send a bill to Congress proposing a fine on homebuyers who
cancel the purchase of a property limited to 10 percent of the
value of the house, according to a source with direct knowledge
of the matter.
Brazilian homebuilders have been hurt by soaring
cancellations amid the country's worse recession on record. In
the absence of any legislation, Brazilian courts have sometimes
ruled in favor of homebuyers receiving all or part of their down
payment if they cancel a house purchase.
(Reporting by Marcela Ayres; Writing by Ana Mano; Editing by
Daniel Flynn and Alan Crosby)