The law ruling the economic relationship between foreign married couples resident in Italy
This article deals with the issue of the choice of law ruling the economic relationship between foreign married partners who are resident in Italy.
The Italian law 218 of the 1995 amendment reforming international private law, determines the field of application of the Italian jurisdiction and the criteria to individuate the applicable law. Concerning the economic relationship between married couples, if they have the same nationality, the common national law of the two partners will be enforced. In case the two partners have two different citizenships, the law of the state where the marriage predominantly takes place will be enforced.
The Italian law offers a further opportunity: the two partners may agree in a written form that their economic affairs will be regulated by the law of the state of which at least one of them is citizen. Such a choice has to occur not only in written form but also at the presence of an Italian public notary.
In the situation that the choice falls on Italian law, it's important to explain the way Italian law regulates economic relationships in reference with the purchase of real estate properties. The general principle is one of legal communion; as a consequence if two married partners buy a property it will belong to the both of them in equal proportion. An alternative possibility would be the separation of goods, and in such a case it would be possible to register to property in the name of just one partner. In sum, if a foreign married couple will decides to regulate its economic affairs according to Italian law, they will have to do it with a public deed in the presence of an Italian public notary. In such a context they would have the chance for a further possibility concerning the ownership of their properties: choosing either communion or separation or even trust.
Please note, any statement made in this article is intended to be a general practical introductory explanation only and not formal legal advice. This firm accepts no liability or any responsibility for any statement made.
