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Trabalho enviado em 20 de agosto de 2015. Aceito em 20 de janeiro de 2016 DOI: 10.12957/rdc.2016.18288 Resumo O presente estudo parte da relevância da aquisicao imobiliaria e da especial contribuicao para isso dada pela incorporacao imobiliaria. Ha no estudo o objetivo de investigar o instituto do Patrimonio de Afetacao nas Incorporacoes Imobiliarias e analisar a seguranca juridica que ele poderia conferir. Delimitou-se o conceito de condominio edilicio e de incorporacao e, apos, os elementos componentes e o conceito de patrimonio de afetacao. O interesse pela tematica ocorreu tambem devido ao impacto do problema ainda vivenciado por uma consideravel parcela da populacao brasileira em decorrencia do processo falimentar da incorporadora ENCOL. Analisaram-se (metodo dedutivo) tambem as alteracoes legislativas provenientes de tal episodio, bem como as possiveis criticas e desafios nesse processo de aquisicao imobiliaria, inclusive pelo entendimento jurisprudencial atual. Palavras-chave : Propriedade em condominio, Incorporacao, Patrimonio de Afetacao Abstract The present study arises from the relevance of the real estate acquisition and from the special contribution to that given by the real estate development. The paper aims to investigate the institute of Segregated Portfolio Assets in Real Estate Development, and analyse the legal certainty that the former could attribute to the latter. The concepts of condominium ownership and of real estate development were delimited, and afterwards, their constituent elements and the concept of Segregated Portfolio Assets. The interest in the theme also occurred due to the impact of the problem still experienced by a considerable portion of the Brazilian population as a result of the bankruptcy of ENCOL developer. The legislative changes arisen from such an episode were analysed (deductive method), as well as the possible criticisms of this process of acquiring real estate and its challenges, including the current understanding of jurisprudence. Keywords: condominium ownership, real estate development, Segregated Portfolio Assets

Patrimônio de Afetação – Segurança na aquisição de imóveis incorporados