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Property buying in Italy can be a nightmare.

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Property buying in Italy can be a nightmare…

Property buying in Italy is a serious investment and often the fulfilment of a dream. Italy’s unique real estate laws and local customs all lead to the recommendation of having the right team of advisors in place to make your experience successful.

property buying

A couple from Bristol found a house in the Abruzzo that they wanted to buy. The local real estate agent, that the couple had engaged, got them to sign a Proposta di Acquisto (purchase offer).

The purchase offer was immediately given to the vendor. The offer basically stipulated the price the couple was willing to pay for the property and was accompanied by the couple’s cheque for €5000, made payable to the vendor. The vendor accepted the couple’s offer, took the cheque, and the deal became irrevocable. The agent also asked the couple for his brokerage fee of 3% of the purchase price, which they paid.

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Law of inheritance in Italy – Imposta di successione

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Law of inheritance in Italy – Italian inheritance tax

What is “Imposta di successione”?

Law of inheritance in ItalyItalian inheritance tax, “Imposte di Successione” was abolished by law no. 383 of 18 October 2001. Subsequently, the government re-introduced inheritance tax through law no. 286, dated 24th November 2006. The law has been applicable to inheritance cases since 3rd October 2006. Read more

Property Selling Guide

Reading Time: 7 minutes

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. Read more

Property Buying Guide

Reading Time: 5 minutes

Italian Property Buying Guide

This Property Buying Guide aims to cover key elements of the Italian purchasing process.property buying guide

For a more in-depth explanation, you may wish to read our comprehensive Italian Property Buying Guide.

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. Read more

Italian Inheritance law: De Tullio Law Firm’s services

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Italian Inheritance law

De Tullio Law Firm’s services

Italian inheritanceFor over 50 years, De Tullio Law Firm​ has been providing, clients worldwide, with clear-sighted legal advice related to Italian inheritance matters.

Whatever your needs, we can help you.

– Italian inheritance rights assessment

– Drafting Italian Wills

– Claiming / recovering inherited Italian property Read more

2017 Legislation: Holding Account

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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. Read more

Reserved Acceptance – Italian Inheritance

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Reserved Acceptance – Italian Inheritance

Brief Case Study

For a better comprehension of reserved acceptance, we have provided a brief case study concerning this topic.

reserved acceptance

Silvia and Eric Jones owned a beautiful property in Liguria. They were resident in Italy, loved life here and were well-integrated in to their local community. Sadly, recently, in close succession, Silvia and Eric died.

The Jones’ sons, Larry and Tom, have been in touch with De Tullio Law Firm about their parents’ Italian Wills. They have some concerns regarding what happens when heirs are unsure exactly what they are inheriting. Larry and Tom are very concerned that their parents’ estate may be encumbered with debt. Read more

Property Inheritance Laws in Italy – An Overview

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Property inheritance laws in Italy

Italian Succession Law – An Overview

IntroductionProperty Inheritance Laws in Italy

Italian succession law follows the Roman Law principle which gives some protection to close members of the family, partially limiting the right of the testator to dispose of assets.

Testamentary Succession consists in the assignment of hereditary assets in compliance with the wishes of the testator as set out in an Italian Will. In the absence of a Will, instead, inheritance is devolved following the principles of Legal Succession. Read more

Italian Inheritance Law Regulation

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Italian Inheritance principleItalian inheritance

The law no. 218 of the 31st of May 1995 regulates the field of Italian inheritance law in the framework of international private law.

The succession rules are determined on the basis of the national law of where the decedent was deemed habitually resident at the time of death.

Italian Inheritance legislation adopts the principle of “unity of inheritance”. This principle differs substantially from the one adopted in common law countries. It is based on a division between non-property assets and property assets: Read more

What is the role of Italian Probate Solicitors?

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Italian Probate SolicitorsThe role of Italian Probate Solicitors

Italian probate solicitors assist with the execution of a Will and the legal procedures of Italian inheritance issues. Engaging the services of a competent and knowledgeable lawyer simplifies the administration of an estate.

Having an independent lawyer will assist with collecting all the documentation relating to property, assets and or land. It speeds up the identification and location of the beneficiaries entitled to the estate of the deceased. Read more