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By In Italian law, Italian Property, Italian Real Estate, Law, Law Firms in Italy, Notaio, Notary, Off-Plan Property, Property law, Real Estate Law

Married couple buying a house under one name in Italy: applicable financial regime.

In Italy spouses can chose between two default[1] matrimonial financial regimes: community of properties/assets (comunione dei beni) and separation of property regime (separazione dei beni).

Married couple buying a house under one name
Married couple buying a house

If no matrimonial regime option is expressly made by both spouses through a notarial deed or upon marriage celebration, Italian married couples’ finances and assets are regulated under the community of property regime.

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By In Italian Property, Italian Real Estate, Law, Law Firms in Italy, Notaio, Notary, Off-Plan Property, Property law, Real Estate Law

Certificate of habitability (certificato di abitabilità)

A certificate of habitability (certificato di abitabilità) confirms a property’s compliance with safety and sanitation rules, the efficiency of the property’s systems and that the property complies with building regulations and planning permission.

Certificate of Habitability (certificato di abitabilità)

Recently the certificate of habitability has been replaced by what could be as certificate of habitability report, which should include the following documents:

  1. Report from building works manager;
  2. Certification of structural soundness;
  3. Cadastral update;
  4. Systems compliance;
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By In Italian law, Italian Property, Italian Real Estate, Law, Law Firms in Italy, Property law, Real Estate Law

Italian flat tax (cedolare secca) on rental incomes from Italian properties

In Italy, homeowners are expected to pay tax on any payment they receive from long or short term rental of their Italian properties.

Generally speaking, the Italian law requires that tax from rental income is paid by all the co-owners of the property on a pro quota basis, no matter who actually signed the rental contract or if the rent is paid in favour of only one of the co-owners.

Italian flat tax (cedolare secca)

However, as per recent case law, depending on the specific case scenario, different regulations might apply. Please get in touch for a preliminary consultation on rental income tax issues.

With respect to rental income tax in Italy, homeowners who act as individuals and are not professional landlords, have two options:

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By In Italian law, Italian Property, Italian Real Estate, Law, Law Firms in Italy, Notaio, Notary, Property law, Real Estate Law

What is the holding account (deposito prezzo)?

Deposito prezzo is the term used for a specific bonded holding account for the balance of payment related to the purchase of an Italian property.

Deposito prezzo protects against the risk of legal claims or encumbrances that may arise between the signing and registration of the deed of sale at the land registry (catasto).

deposito prezzo

Once you have signed a deed of sale, it is sent to the land registry, where an official stamp is placed on the deed of sale. The registered deed of sale is returned to the notary you used to authenticate the transaction.

It generally takes two to three months to obtain the registered deed of sale and thereafter, you can obtain a copy from your notary.

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By In Inheritance Law, Italian Property, Italian Real Estate, Law, Law Firms in Italy, Notaio, Notary, Off-Plan Property

Differences between Italian Notaries’ legal advice and independent lawyer’s legal advice when buying a property in Italy

Property transactions where one of the parties is not an Italian individual, cannot be considered as a normal scenario. The involved professionals are not always experienced to deal with these cases.

Fact: In Italy you cannot buy a property without the assistance of an Italian Notary Public.

Italian Notaries

By law, a Notary Public must remain impartial during the property transaction. A Notary can also provide legal advice if requested but must maintain impartiality when providing parties with legal advice . Read this article for further information about Italian Notary Public role.

There is no legal obligation to engage the services of an independent lawyer for property purchases in Italy. And, normally Italian individuals do not hire an independent lawyer for property transactions between themselves.

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By In Inheritance, Inheritance Law, Italian law, Italian Property, Italian Real Estate, Italian Will, Law, Law Firms in Italy, Notaio, Notary, Off-Plan Property, Property law, Real Estate Law

An Italian Notary Public’s Escrow Account Is The Safest Way To Manage Property Purchase Payments in Italy

Escrow account

In Italy only an Italian Notary Public’s escrow account benefits from full and complete legal protection against possible creditors.

There are two main payments you are expected to make when buying a property in Italy,or that you will receive, if you are selling an Italian property; the deposit and the balance.

The deposit is usually paid upon purchase offer acceptance and it is aimed at confirming the parties’ intention to proceed with the purchase-sale contract. The balance is customarily paid upon closing, unless otherwise agreed.

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By In Italian law, Italian Property, Italian Real Estate, Law, Law Firms in Italy, Notaio, Notary, Off-Plan Property, Property law, Real Estate Law

Can I Back Out of A Preliminary Contract?

Can I Back Out of A Preliminary Contract?

You’ve signed a preliminary contract on a property. You rather rushed in to it because you didn’t want to miss out on what you thought was a great Back Outopportunity. It’s long been your dream to own a penthouse in the centre of Rome and when you saw this apartment, you just had to have it.

However, in hindsight and after viewing the apartment again, you realise the penthouse isn’t as big as you thought. When you first saw the place, you could see potential to extend in to the roof space, but you now doubt that the municipality will grant permission to convert the space. Besides, you recognise that even if your planning application is accepted, it’s going to be prohibitively expensive. The date for signing the deed of sale is looming. What can you do? (more…)

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By In Inheritance, Inheritance Law, Italian Divorce Law, Italian law, Italian Property, Italian Real Estate, Italian Will, Law, Law Firms in Italy, Notaio, Notary, Property law, Real Estate Law

Italian Inheritance Tax – Imposta di successione

Italian Inheritance TaxItalian inheritance tax, “Imposte di Successione” was abolished by law no. 383 of 18 October 2001. Subsequently, the government re-introduced inheritance tax through law no. 286, dated 24th November 2006. The law has been applicable to inheritance cases since 3rd October 2006. (more…)

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By In Italian law, Italian Property, Italian Real Estate, Law, Law Firms in Italy, Notaio, Notary, Off-Plan Property, Property law, Real Estate Law

Property Selling Guide

This property selling guide focuses on the issues that a seller may encounter during an Italian property conveyance.

When selling an Italian property, there are some legal issues which should be seriously considered. Due to the language barrier and differences in property sellinglegal systems, real estate transactions in Italy can appear as a difficult and protracted process for foreign investors. The Italian legal process is obviously technical and might expose you to some risks. Considering the interests at stake in a real estate transaction, it is advisable that you seek the assistance of a qualified bilingual legal advisor, who has the competence to guide you through the process and advise on potential risks. (more…)

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By In Italian law, Italian Property, Italian Real Estate, Law, Law Firms in Italy, Notaio, Notary, Off-Plan Property, Property law, Real Estate Law

Property Buying Guide

This article aims to cover key elements of the Italian purchasing process.property buying

For a more in-depth explanation, you may wish to read our comprehensive guide to buying property in Italy.

The purchase of a property in Italy proceeds through 3 key stages:

  • Proposta irrevocabile d’acquisto (Reservation offer)
  • Contratto preliminare di vendita (Preliminary contract)
  • Atto di vendita (Deed of sale)

Once you have chosen your property you should engage the services of a solicitor, whether you buy through a real estate agent or directly from the vendor. The knowledge that an Italian solicitor has about Italian real estate law is invaluable – plus, your own solicitor is there exclusively to look after your interests. (more…)

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