Property - change of ownership following marital seperation.

KevinKent Image
06/18/2009 - 05:23

As part of a financial resolution following my marriage seperation, we have agreed that I should become the sole owner of a property in Italy. Currently both of us are on the "deeds", however, this needs to be changed. Is a trip to change the details in front of the notaio strictly necessary, or could this be covered in the UK by some legal arrangement or can any advice be offered as to the best solution! Both parties are speaking, but would rather avoid the hassle of making a trip to resolve this.

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 You could use an Italian notary in london - there is one near Piccadilly - but basically if you bought in comunion of goods, it remains 50% your ex-wife's for ever, and she will have to sign away her right to it in front of a notaio, and you will have produce the proof/divorce documents/ etc when and if you decide to sell.     

Here is the link to the London based Italian Chamer of Commerce:http://www.italchamind.co.uk/They have a members' directory!For what is worth both of you and your wife should not do anything without seeing lawyers for independent legal advice and accountants (for UK capital gains or inheritance tax advice).  For example is it to be a donation, a purchase, a simple transfer between husband and wife or part of a divorce settlement.  None of my business, but the UK tax man and the Italian authorities may want to know!As I said to Alan H on the other thread I am not a lawyer or tax accountant my comments are purely based personal experience. Both of you should ignore any other advice except that given to you both by independent legal and tax advisers who will have professional liability insurance if things go wrong! Good luck!Serge