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

2017 New Legislation: Holding Account

Keeping Your Money Safe in a Holding Account until the Completion of Your Italian Property Purchase

On 29th August, 2017, the holding account was introduced. The new legislation governing payments for the purchase of Italian residential and commercial Holding accountreal estate property came in to effect as part of the Law of Competition. The legislation is retroactive, which means that it also applies to ongoing property purchases started prior to 29th August 2017.

New rules aim to give better protection to both buyers and sellers. Funds for the completion of purchase of Italian property real estate will now be held in a holding account by the chosen notary to the transaction. Deposits connected with a reservation offer and preliminary contracts are not subject to this new legislation. (more…)

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

De Tullio Law Firm at the YourOverseasHome event

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

Partition of The Estate: how does it work?

Partition of The EstatePartition of the estate

Should there be more than one heir nominated in a Will or in accordance with Italian law, a condition of joint-ownership of rights and duties concerning the inheritance is established among the co-heirs.

A testator’s estate is composed of assets and real rights: the co-heirs receive the estate in proportion to their inheritance quota, either as apportioned in the testator’s Will or in accordance with the law –  and, in the same proportion, they acquire any credits due and take on all the debts of the testator. (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

Legal action against real estate agents in Italy

Legal action against real estate agents in ItalyAccording to the Law 39/1989, realtors and real estate agents in Italy must be registered with their local Chamber of Commerce. If not registered, a real estate agent is liable to fines and other penalties and will not be entitled to agreed commissions.

This legislation also provides an important guarantee for the consumer, in that the law requires the agent to have adequate insurance cover in order to practise their profession. The scope of this professional insurance policy must provide the consumer with cover in the event of negligence on the part of the agent. (more…)

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

Responsibility of The Contractor for Defects And/Or Variations in Construction Works

Responsibility of The Contractor for Defects And/Or Variations in Construction WorksThe best advice I can give you before entering into a contract with a construction or renovation company is to call your legal advisor to get a contract drafted between you and the company you have chosen to carry out the work. A professionally drafted contract is your best protection should any problems with the construction works arise.

Whether there are issues with defective material, poor execution of works, deviations from the agreed plan or a request for additional money, a professionally drafted contract in both English and Italian will prevent a lot of problems, reduce stress and often save you a considerable amount of money. (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

Insurance Policy for Off-Plan Properties

According to article 4 of the legislative decree 122/2005 the construction company is obliged to deliver to the buyer, at the moment of the transfer ofinsurance policy ownership, an insurance policy as a guarantee for serious construction defects affecting the property. This insurance policy has a cover of 10 years.

A good piece of advice is to request that the Notary Public, who must be involved in the sale, make explicit reference to the insurance policy in the Deed of Sale. (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

English-Speaking Italian Property Lawyer

How Can An English-Speaking Italian Property Lawyer Advise with The Purchase of A Property in Italy?

I am quite surprised when I hear people say that consulting an English-speaking Italian property lawyer when buying property in Italy is unnecessary, even a waste of money. English-speaking Italian property lawyerBuying a home anywhere, including Italy, is probably one of the largest and most significant purchases you will make in your life.

It involves the law of Italian real estate property, which is complex and raises special issues of practice, and problems not present in other transactions and or jurisdictions. An Italian real estate attorney is a trained legal specialist, experienced at dealing with these problems.

Briefly, in the typical Italian home purchase, the buyer enters into a brokerage contract with a real estate agent, usually in writing. Negotiations with the vendor are conducted through the broker, who most often acts as an intermediary. Once an informal agreement is reached, buyer and seller enter into a formal written contract for the sale, the purchase agreement. The buyer pays deposits. Ownership is ascertained, titles, deeds and other due diligence needs to be undertaken. Finally, the property is transferred from the seller to the buyer, and the seller receives the purchase price stipulated in the contract. (more…)

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