Stanisci Law Firm has been operating in Ostuni in the province of Brindisi for many years, guaranteeing professional assistance and consultancy in the field of Civil, International and Tax Law, representing today one of the most appreciated companies in the area.
Thanks to a team of professional lawyers constantly updated, the Firm is able to offer both private and business consultancy and assistance services on various branches of law both nationally and abroad.
On behalf of clients, a solicitor should carry out thorough due diligence and check in advance that all statements the parties make before ( reservation offer, preliminary contract of sale) and at the signing of the deed when closing the transaction are true and verified. These are crucial checks: sometimes the negative effects of a lack of competent legal advice or compliance checks in property transactions can be fixed, but, unfortunately, in most of cases, the buyer cannot turn back the tide, and the only thing the buyer can do, after the event, is to spend time, money and effort on damage limitation. It can be a costly, time-consuming and worrying process. Hiring a lawyer specialized in real estate is an investment, but given that buying Italian real estate is a major investment for most people, it is a small price to pay for peace of mind. Having a specialist property lawyer, who you have chosen, offers an insurance against damages: you safeguard yourself, your conveyancing and your finances. Knowledge and expertise are the keys where money is involved.
What are the steps to buy a house in Italy?
The purchase of a property in Italy proceeds through three key stages: * Propostairrevocabiled’acquisto (Reservation offer) * Contrattopreliminare 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 first document you will be called upon to sign is called, “propostairrevocabiled’acquisto” (reservation offer), which is normal practice when purchasing through an estate agent. By signing the propostairrevocabiled’acquisto you will be securing the removal of the property from the market for a limited period of time, normally 15 days. During this interval your solicitor, eventually assisted by a surveyor, will make all the searches to ascertain that the property is without any debts, mortgages, claims, building abuses etc, thereby assuring that there will be no unpleasant and possibly costly surprises during the final phase of the purchase. At this stage you will be required to pay a small deposit, which is normally held by the estate agent or solicitor until the offer is formally accepted (signed) by the seller. Should you finalise the purchase, this deposit will be considered as partial payment of the purchase price. If the seller does not formally accept the offer your deposit will be returned to you. At this stage, buyer and seller having agreed to go ahead with the conveyance, will formalise their agreement with the “contrattopreliminare di vendita” (preliminary contract). However, this legal document really is essential because it sets out the detailed terms and conditions of the sale. One of the essential legal elements of the preliminary contract is the payment of a deposit (caparraconfirmatoria), normally equivalent to a minimum of 10% of the purchase price. In the preliminary contract, the parties also set the date to finalise the conveyance in front of the public notary. The final step of the conveyance is the so called “atto di vendita” (deed of sale). The deed is drafted by the notary in his office, and has to be fully compliant with the preliminary contract. Italian law requires that the deed of sale must be drafted in both Italian and English should one of the parties not understand the Italian language. If the buyer(s) cannot be present to sign the deed of sale in front of the notary, the buyer(s) can give power of attorney to their solicitor who will sign the deed of sale on their behalf.
Do I need to make a Will for my assets in Italy?
A. It is generally recommended that foreign citizens owning assets in Italy draft an Italian Will. This will prevent significant difficulties that heirs might experience when transferring the ownership of Italian properties originally registered in the name of the testator. Under Italian law, all foreign Wills must be authenticated by an Italian Public Notary before executing the probate. Managing documents drafted in a foreign language and ruled by different legal jurisdictions in Italy can raise a number of difficulties. An Italian Will can also speed up the administrative procedures to be carried out with Italian banks. Moreover a Will can always be modified by the testator up to the very last moment of life. A competent and independent legal adviser can help you to draft a Will that complies with Italian law.