Buying real estate property in Italy is a complex process that requires an understanding of the country’s legal system. Some of the key legal issues to consider when purchasing property in Italy include:
1- Property Title
It’s important to verify that the property you want to buy has a clear title, free of any liens or encumbrances.
You can learn a lot of details about the property you’ve chosen by conducting real estate due diligence, with the purpose to verify that: the property is free from liens and other claims from third parties; it is registered with the Land Register; it has the required planning licenses and other papers; and it is suitable for the intended use.
2- Zoning Regulations and Building Permits
Before making an offer on a property, it’s essential to understand the local zoning regulations and any restrictions that may apply to the property you’re interested in.
Before closing on a property, it’s important to ensure that all building permits and inspections have been completed and that the property is in compliance with all local building codes (ie. the floor plan of the property, the cadastral record, the energy certificate, and the construction permits, required for buildings constructed after 1967.
3- Property Taxes
You will be responsible for paying property taxes in Italy. It’s therefore important to fully understand the tax implications of ownership before making a purchase.
4- Contract of Sale
Firstly take note that a pre-sale agreement must be written once the buyer and the seller have reached an agreement on the purchase price: in that case a set sum from the purchase price of the property shall generally be deposited in a bank account.
The actual contract of sale must be signed by the seller and the buyer in front of the public notary, who will make a final check of the property documents: the contract should include all the terms and conditions of the sale, including the purchase price, the payment terms, and any contingencies.
We would like to remind you that an Italian lawyer can represent you legally and sign the sale contract on your behalf.
Last the Italian Land Registry registration happens once the sale-purchase agreement for the Italian home is signed. This crucial stage involves receiving a tax code that the new owner uses to pay the applicable fees.
5- Inheritance Law
Don’t finally forget to take into account potential issues related to Italian inheritance law. Italian inheritance law can be complicated and it’s important to understand the laws and regulations that apply to your specific situation.
