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).
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.
(more…)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.
Recently the certificate of habitability has been replaced by what could be as certificate of habitability report, which should include the following documents:
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).
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.
(more…) A Last Will and testament is absolutely necessary to avoid causing conflicts among your heirs, especially if you are a foreign citizen who owns goods and property in Italy. Not only can a Will allow you to assign your inheritance to the appropriate beneficiary, but it could also be useful to prevent problems for your heirs, and it could even enable you a tax saving. Let’s see more specifically each case.
You’ve seen it: the Italian property you’ve always dreamt about.
Now you have a pen in your hand and the property purchase proposal in front of you, ready to be signed.
Take your time before putting pen to paper, no matter who drafted that proposal for you.
You deserve a little hesitation, especially if you are going to sign a boilerplate template provided by a Real Estate Agent and not by your own legal advisor, or if there is anything whatsoever that you feel is unclear to you.
If the proposal has been provided by Real Estate Agents, I am sure they told you that it’s a standard proposal, drafted as per common general terms and in compliance with the Italian civil code; and that the standard template itself has been approved by the Chamber of Commerce.
(more…)Fact: In Italy you cannot buy a property without the assistance of an Italian Notary Public.
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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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.
(more…)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 
opportunity. 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…)
Italian 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…)When selling an Italian property, there are some legal issues which should be seriously considered. Due to the language barrier and differences in 
legal 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…)