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The right to back out if there is no certificate of habitability

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The right to back out of signing the final deed of sale if there is no certificate of habitability

Last November the Italian Supreme Court of Cassation ruled that buyers can refuse to enter into the final deed of sale if the residential property they have promised to buy has no certificate of habitability (Court of Cassation., section II, 26th November 2015-8th February 2016, n. 2438).agibilità

The Certificate of Habitability certifies the suitability of a residential property as being fit for human habitation. It is issued by the competent municipal offices following verification that the building and its systems comply with health, safety and structural regulations. According to law, prior to issuing the certificate of habitability, the competent authorities should also verify that the building complies with planning permission.

Following purchase of a property in Italy, owners will need the certificate of habitability to get utilities and municipal services for their property. Read more

Italian Real Estate Leaseback Scheme

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Italian Real Estate Leaseback Scheme: buying a house in instalments

The 2016 Stability Law introduces a new real estate leaseback contract, which allows the purchase of a property without resorting to a mortgage.real estate leaseback

The real estate leaseback scheme is a financial product for those whose annual income does not exceed 55,000 Euro and are in a position to take advantage of first home benefits, in other words, people who do not already own another property.

The contract can only be entered into by individuals and banks or leasing companies. The bank or leasing company commits to buy, or to build, a property on behalf of a client, who then becomes the property lessee. The property is therefore owned by the lender, while the lessee has the right to use the property upon payment of an initial instalment and a monthly rent thereafter. Read more

Italian Property Buying Process

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buying process

At What Stage of the Buying Process Should You Contact a Property Lawyer in Italy?

People planning to buy an Italian property frequently ask me at what point of the buying process they should involve a lawyer.

On the one hand, people worry that if they contact a lawyer too soon, they will end up wasting their time or incur unnecessary additional costs when they might not actually proceed with a property purchase immediately. Read more

Buying properties in Italy is a major decision

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buying properties

Buying properties in Italy is a major decision. Proceed with caution. Do your research. Always get independent advice.

Continued slow economic growth in Italy is helping to keep property prices low and therefore attractive for those looking to invest. Interest rates show no sign of substantially increasing in 2016 either in The UK or in the Eurozone. 2016 is therefore looking to be another year when many Britons will purchase an Italian property.

Each year, I am engaged by clients whose Italian property purchase started out as an impulse decision, driven more by emotional than rational considerations. Unfortunately, at some point during the purchase, the dream has turned in to a nightmare. All sorts of additional costs are incurred; costs which could have been completely avoided if legal advice had been sought prior to purchase. Read more

2019 Stability Law – Flat-Rate Tax Scheme

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The New 2015 European Inheritance Rules

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European Inheritance Rules

Action should be taken now to benefit from the new 2015 European Inheritance Rules. According to The European Commission some 450,000 cross-border successions occur in the EU each year, estimated to be worth in excess of €120 billion. As it stands, many countries in the EU, including Italy, have laws governing ‘forced heirships’ along with different opinions as to whether inheritance is dealt with under local law, or the law of the nationality of the deceased. To somewhat solve this confusion and prevent disputes, effective August 17th 2015 new rules will allow individuals across participating EU member states to choose which country jurisdiction will apply to the devolution of estates. Read more