Suddenly there is a new forum and lots of new members appear from nowhere asking really useful questions! it's almost as if someone somewhere is trying to make the new site justifuy its existence. Which is nice.
Ram's activity
Questions Asked
One for Charlotte - i have an American client, executor of his fathers estate who says that under the Uniform International Wills Act he can deal with the Italian succession of his American/Italian father.
Wed, 01/23/2013 - 06:36
Thu, 05/10/2012 - 13:28
'Tourists' in ITaly have now got a deroga from the government allowing them to buy stuff that costs more than 1000 euros with cash.
Wed, 02/22/2012 - 03:22
There is a hugely important element to the manovra published yesterday. For people who took residence in Italy to get prima casa, but dont actually live here...From 2012 you will pay 7/1000 on the value of any property owned OUTSIDE ITaly.
Thu, 12/15/2011 - 02:52
oops apologies - going blind in my old age
Thu, 12/02/2010 - 03:55
So the Nationwide has introduced bank charges - £1 fee and 2% commission on every withdrawal via ATM abroad - Im gutted. But, I had no advance warning and am also deeply annoyed. Anyone else in the same boat?
Thu, 11/18/2010 - 03:54
Somewhat open mouthed to see a large ad for Giambrone on the front page of the Italy Mag website.
Sat, 11/06/2010 - 04:04
Does anyone have any info on the scudo fiscale. It seems that the new version is not only retroactive, but anyone bringing money into Italy could be liable for 5% tax if they are resident.
Tue, 01/05/2010 - 13:05
The disaster in the province of Messina goes to prove the instability and 'eyes wide shut' approach to living in Italy.
Mon, 10/05/2009 - 04:04
Comments posted
It is not only normal for an estate agent to act for both parties but a legal requirement. A legally operating and registered estate agent must be independent and work impartially for both parties without ties of dependence, collaberation or representation. Unfortunately most of the abusivi - illegal agents - do not have this requirement and just want to sell property - the moral being - use a legal estate agent.... :)
Italian law requires that the passage of beni immobili - ie property and immovable goods is conducted by a notaio who works for the state. It is impossible to buy or sell such beni without using a notaio.
The notaio should keep a copy of the succession, and there will be a copy with the conservatoria - probably in Frosinone. They can also access the database and run off copies which mere mortals can't. If the last notaio no longer exists, his records will be kept in the local notarile archive and you can go and search for it, but you will need a pretty accurate date as a starting point.
As such deeds dont exist in Italy - its your act of purchase that is your proof. Failing that the successions done by a notaio passing the property to the inheritor act as proof of ownership.
It all depends what you are buying. Notary fees are set by law and the notaio should tell you how much his fee will be (about) before you sign. The taxes and imposte are based on the rateable value of the property which could be very low if you are buying a shack to restore, or much higher if its a new build. If its a new build you will pay IVA (VAT) instead of the stamp duty. If its going to be your prima casa the taxes are 3% + 2% + 1%, if its a second home its 7% +2+1 - all calculated on the rateable value. Its fair to budget at about 10% for a first house. TThe agency should charge no more than 3% plus VAT - regione campania will have a 'guideline' for agency fees. If they try and add on a percent because they get you your codice fiscale its rubbish and you should go to a different agency. On top of all that you will have to pay for registration of the act, visure ipotecarie etc, and if you decide to use a solicitor all their fees. If its a straightforward sale there is really little need for a solicitor. If you are getting a mortgage you will also have to pay 1% of the purchase price as tax on the mortgage plus a heftier sum to the notaio as he has to do two acts of purchase instead of one. Until you know which property you want to buy, its virtually impossible to work out the fees and charges, but as a rule of thumb if you have a budget of 200.000 you should spend 170K on the house and keep abck 30 for the purchase costs. If someone tells you that underdeclaring the sale price will save you money, its a lie. It is not only illegal and carries a fine of 10,000 euros, it will save you nothing. You must also declare the agent in the act of sale on pain of it being null and void.
But if you pay your plusvalenza at the point of sale to the notaio, your tax liability is covered.
A gentlemans agreement is possible but a) it would be tax evasion and b) offer you no protection if they decide not to move out. Having said that, they are very common! You can stipulate what you like in the contract- and you can have it in two languages, but only the Italian one has legal force unless you have the English one done by a translator and either done in front of a notaio or with a postilla from the tribunale. Termination of a contratto transitorio can be done by either side with 3 months notice by registered mail. Send me your email address and Ill send you a copy of the contract
You should give them a contratto transitorio which is valid up to 18 months. However, it is a contract and as such should be registered at the ufficio delle entrate - you cannot let without a formal contract. You have no protection and nor do the renters. There is no point splitting it int o 2 6month periods - it will only cost you twice as much to register the contract. Assuming the premises are furnished, or part furnished and your renters do not have residence in the same comune a contratto transitorio will be fine. If you want a copy, PM me and Ill send you a blank
The codice civile says that you can build up to 2 metres, but the Beni Culturali and comunes can impose local standards which is usually a metre.
I think any Italian insurer will fall about laughing if someone tried to insure a ruin... I assume you mean public liability - if so I would try a British/European insurer first.