If I wanted to put my parents property

yumyum Image
04/06/2019 - 11:02

If I wanted to put my parents property in Italy, they live in it, in my name, would it be expensive, if so, what are costs? and is it different if I am non Italy resident and non Italian citizen. I am UK.



I reckon you are looking at 1000s to buy (or donate if the same cost as indicated) as whare as the taxes will be a %. The Notary cost will be a minimum at least (>€4000?). Do a search on "cost of buying a house in Italy" and look at a few. Not too sure what todays tax is for a none resident, but around 9% at a guess. The two others guys here will know better, but I would hazzard a guess you can't rig the tax by a low valuation...

Steve ,on the page - have the exactly expenses -yet - second home - 9%firtst home , 2%and some fixed expenses for registration - on the notary association - have even IMPORTANT NOTES , about the SUCCESSIONE = property transfert in case of the deed ( change if is from pater/mother - other family member - NOT family member )

mortgege to buy nuda proprietà from parents is prosecutable - if you are interested , the full mortgage pachage , enclose opening of an italian bank account - and Elective Residence, for buy as prima casa . 

There are only problems with donations if it is challengeable.  For example you have two kids, and you donate the house to one of them.  The other could challenge it in court.  If you are an only child and your parents give you a house - then no-one can challenge it - and the 10 or 20 year problem doesnt arise.  

it is not entirely true, Modi, even if the donation is made in favor of an only child - the banks normally do not grant the loan, up to the end of the 20th year -I had a similar problem about 6 months ago - the recipient of the donation, she was 89 years old, never married, dead parents, dead siblings, sole heir to a nephew, to whom she had given to avoid an expensive inheritance tax - and that was the seller of the good.We have solved the problem with a specific insurance for donations, in favor of the bank (cost 200-eu on a donation value of 39000 eur - and 18 months for the completion of 20 years)But this occasion, cannot be generalized, three banks had rejected this solution - and finally not all customers, find a broker with the appropriate knowledge -  angel