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Estate agents are neither lawyers nor independent. We are both.

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Estate agents are neither lawyers nor independent. We are both.

Don’t Leave Your Italian Property Transaction To Chance… Seek Independent Legal Advice!

Estate Agents are not lawyers

When buying or selling a property at home, most people wouldn’t dream of entering into a transaction without the assistance of a qualified and independent lawyer. Yet in Italy, many buyers and sellers, particularly foreigners, decide not to instruct a lawyer and instead rely on an estate agent to handle the transaction on their behalf. Many foreign property buyers find their way to our law practice this way. They have encountered serious problems; some have lost everything. Read more

De Tullio Law Firm and the New York Times

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De Tullio Law Firm and the New York Times

De Tullio Law Firm’s second contribution for the New York Times

One year after our first contribution for the New York Times, De Tullio Law Firm was interviewed for the second time to provide, once again, potential investors in Italy with useful guidelines regarding the buying basics of the Italian conveyancing process.

This time, the article is focused on the Riviera Ligure, one of the most sought-after places of the Italian country, but the legal information provided herein are extended to the whole Italian territory.

The article includes critical information, such as Italian Notary’s fees (Italian Notaio’s fees), legal fees and Italian property taxes.

De Tullio Law Firm and the New York Times - Riviera Ligure

Buying basics in the Italian Riviera

There are no restrictions on most foreigners buying real estate in Italy, said Giandomenico De Tullio, a managing partner at the De Tullio Law Firm, which has offices in Italy and Britain.

Transactions are handled by a notary, whose fee is negotiable, but typically starts at around 1,500 euros (or about $1,860) and varies depending on the price of the property and the complexity of the deal, said Gianluca Giovannini, a notary in Livorno. For complicated transactions and sales involving foreigners, it is a good idea to hire a bilingual lawyer as well, said Mr. De Tullio, who estimated that a lawyer’s fee would be about 1 percent of the sales price. In addition, there is a 22 percent value-added tax on both services.

De Tullio Law Firm and the New York Times - Riviera Ligure by night

The stamp duty is the buyer’s biggest closing cost, at 2 or 9 percent of the property’s assessed value, depending on whether it will be a primary residence or a second home, Mr. De Tullio said. (To get the primary-residence tax break, buyers must typically establish legal residence in the municipality within 18 months of buying the property, he said.)

Other closing costs include a building registry tax of 50 euros (about $62) and several other taxes and fees that add up to a few hundred euros. A rough estimate of closing costs on a 1 million euro property is around 30,000 euros (about $37,000), Mr. De Tullio said, but he added that it can vary greatly.” Read the full article here.

Review of EU and Italian Divorce Law

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Living in a cross-cultural relationshipItalian Divorce law

Italian Divorce Law is one of the frequent questions our clients address to our law firm. Many of them and many friends and family members, in fact, are part of a cross-cultural relationship and for the most part it is an enriching and beautiful experience but it can also difficult to manage.

When it comes to marriage and children it is wise to speak to experts, both for emotional support and legal support. Regrettably, international separations and divorces are becoming more common.

Obviously, people don’t enter in to married life thinking about where the best location for a divorce would be. However, where couples choose to divorce can have a major impact on both parties’ financial health, so getting it right is very important. Delays in deciding this could result in a disastrous outcome. Read more

The Law of Economic Relationship between Foreign Married Couples Resident in Italy

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Foreign Married Couples Resident in ItalyThis article deals with the issue of the choice of law ruling the economic relationship between foreign married couples resident in Italy.

Matrimonial regime in Italy, “Regime patrimoniale coniugale” in Italian, is governed by Italian Civil Code. Italian law no. 218 of the 1995 amendment reforming international private law, determines applicable law.

Concerning the economic relationship between married couples, if they have the same nationality, the national law of the two partners will be enforced. Read more

Cross-Border Inheritance Law (Brussel IV)

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Cross-Border Inheritance Law. How Does New EU Succession Legislation Impact You?

This article looks at the new EU Law 650/2012, also known as the Brussels IV Regulation, which came in to effect on 17th August 2015.

Although the UK, Denmark and Ireland have opted out of participating in Brussels IV, there are still implications for nationals of these countries who reside in a participating EU Member State or have a connection to a participating EU Member State, for example a holiday home.

Cross-Border Inheritance LawPrior to the introduction of Brussels IV, each EU jurisdiction applied its own rules to govern the devolution of individuals’ property. For individuals with assets in more than one country, various Connecting Factors were considered such as domicile, residence, nationality or habitual residence, in order to determine which country laws should apply to an individual’s estate. In addition, for some EU states, applicable succession law depended upon whether the assets were immovable (property and land) or movable (bank accounts, vehicles, furniture, jewellery and so on). The fact that each jurisdiction applied different Connecting Factors often led to costly, lengthy and complex conflicts of laws. Read more

Italian and EU International Divorces

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Italian and EU Divorce Law

Across much of the European Union, marriages between couples of different nationalities, are on the rise. In addition, the number of married couples living as expats in another EU country is increasing. Unfortunately, this means that international separations and divorces are becoming more common.

Obviously, people don’t enter into married life thinking about where the best location for a divorce would be; married couples are unlikely to be interested in thinking about this while they remain happy together, and couples may not be able to agree on the appropriate jurisdiction if they are about to be or are already separated. However, where couples choose to divorce can have a major impact on both parties’ financial health, so getting it right is crucial. Read more