In the context of Act 10406/02, which article 791 is a part of, "direito" and "faculdade" don't seem to have the same meaning. "Faculdade" is used as a synonym of "power/prerogative" whereas "direito" means "right". Check out these two examples:

Art. 467. No momento da conclusão do contrato, pode uma das partes reservar-se a faculdade de indicar a pessoa que deve adquirir os direitos e assumir as obrigações dele decorrentes.

Art. 1.228. O proprietário tem a faculdade de usar, gozar e dispor da coisa, e o direito de reavê-la do poder de quem quer que injustamente a possua ou detenha.

faculdade: 5. Poder, meio, direito: Tenho a faculdade de dispor do que é meu: Tenho a faculdade de dispor do que é meu. https://www.aulete.com.br/faculdade

Any of these words will do:

faculty: power, authority, or prerogative given or conferred. The state has the faculty to define treason.
https://www.merriam-webster.com/dictionary/faculty

Example Sentences

Possession can be defined as the dominion over or control of property with the power to use or enjoy the property. https://ttu-ir.tdl.org/bitstream/handle/2346/73324/18_1TexTe...

Little was said in Beswick v. Beswickl about C's right to sue in equity, but by a marked tightening in judicial opinion, a trust will only be found where it is quite clear that the parties expressly intended not to reserve the power to alter or vary the agreement between themselves. http://classic.austlii.edu.au/au/journals/AdelLawRw/1968/8.p...

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> although there is a type of reinsurance called 'facultative'.