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Tue, 09/08/2020 - 07:29

Ciao e benvenuto!

It really depends on how much you want to invest and how long time you wish to stay in Italy every year.

At the moment the market is good for those who wish to buy, especially in the South of the Country.

About being easy to buy a property in Italy, opinions are different since it depends on how lucky you are. 

If you buy as a first house you have fiscal benefits, however you need to move your residency to Italy within a certain time.

Annual property taxes depend on the property income. If you tell us more, we might be able to give you stronger advices.  

Anyway, I would pay for a mortgage rather then wasting money on a property rent, but this is up to you.

I hope the above info are of help.

Luxury Law

Tue, 09/01/2020 - 13:35

Hello Ugo,

No problem in asking for clarification about one of the numerous cases in which we saved a client from a bad purchase.  Always with the due respect, I do not believe to have posted “blatant accusation of building irregularities”.

The above example was not fully explanatory just for avoiding a longer post. I could even mention lots of other cases. My focus was to explain to the readers that sometimes it can be quite an advantage to have a professional checking all aspects.

Of course the Municipality  did not issue a “permit to build a dog's kennel”. In our case the land was advertised as a building plot, and it actually was! However, we calculated the standard minimum distance between buildings and it came out that there was not enough space for building our client’s dreams-home. This plot, together with the neighboring ones would have allowed him to built a proper home.

If anyone wishes to have more clarification on this topic, I will be more than happy to explain, you can contact me privately. However this was not the crux of the debate, which was mainly focused on the reason why a lawyer due diligence is more than crucial in some cases.

Grazie comunque Ugo per la Sua precisazione che rende il dibattito ancora più interessante :)

Luxury Law

Tue, 09/01/2020 - 08:46

With all due respect, I completely disagree with what mentioned about the unnecessity to hire a lawyer for buying a property in Italy!

A notary public and a lawyer have totally different roles.

A Notary is a public official, and, among others things, he/she collects taxes due and register the new ownership. Surely if his job is not done correctly there will be legal consequences such as an invalid deed.

Whilst a lawyer acts on the best interest of the sole client (often the buyer). He/she does not limit his work in making sure that all documents are in place, but also by informing the client on all aspects of the purchase (which I cannot mention here for obvious reasons).

Important to notice that if a lawyer mistakes, he/she will responde with his/her own money, and also risks to lose the title. Reason why all lawyers have an annual professional insurance, which also covers those professionals who work, same as me, in the Real Estate sector.

It is correct to say that there is no obligation to hire a lawyer, however it is in your best interest to do so.

I am a lawyer and proud to have saved many clients from a bad purchase in Italy or to have led them to a good buy. However we have also been in touch with people (expecially foreigners) who thought that a lawyer was not needed, and who eventually spent more money in not hiring one!

For example, one of our last clients is a guy who was almost ready to buy a building land in Italy. The Notary checked all documents, titles and everything was apparently fine. However he felt more protect in hiring us, and fortunately he did so. If he did not contact a lawyer, he would now be the owner of a large building land where he could actually built just a 4 square meters house, basically just a dog bed for his pet!! And this is just one of the numerous examples I can provide you with.

Wed, 08/05/2020 - 08:29

You can click on this article: https://www.luxury-law.com/italian-super-bonus-110-relaunch-decree/ , all information are in English.

Please let me know if you find it useful.

Thank you!

 

Wed, 08/05/2020 - 08:29

You can click on this article: https://www.luxury-law.com/italian-super-bonus-110-relaunch-decree/ , all information are in English.

Please let me know if you find it useful.

Thank you!

 

Wed, 06/10/2020 - 09:01

Hello Balilee7,

Before answering your question, I need to know if you and your husband got married in separate or joint assets.

In this last case, you can make a will for your part of the ownership.

One more information might be useful for you: under Italian law we have a so called "Quota di Legittima", which means that your children, but also your husband, are protected by law in terms of receiving a portion of the inheritance. This happens independently from drafting a Will or not.

Of course, we need to make sure that Italian law is the one which will be applied. This also depends on the Country where you have spent most of the time whilst married.

Luxury Law

Fri, 05/29/2020 - 10:52

I hope your friend will sort it out. You can count on me if you need any help, no worries!

Luxury Law

Thu, 05/28/2020 - 10:19

Hi, We do not pay TASI this year at all in Italy. Calculation for IMU has not been decided yet in many Municipalities, so what you can do is paying the same amount of last year for the IMU (by using the same IMU code of last year). Then, in December, the Municipality will discount you the over-payment that you have potentially made in June.

Example: 

2019 IMU = €100 

2020 IMU = ? (Unknown yet)

Then you pay €100 within June 16th.

The Municipality establishes that 2020 IMU is equal to €80 (so you have paid €20 more than what actually due). Then in December you will pay €60. Meaning that you will pay the December tranche of €80 minus the higher amount that you anticipated in June.

Sorry for my basic explanation, but I think simple examples just clarify a bit better.

Thu, 05/28/2020 - 09:55

The category D/2 is made by Hotels, B&B and properties that are used for making a profit.

Therefore, I do not believe you can avoid IMU this June 2020 :( since you use your property with a non-lucrative goal.

If anyone has any doubts, you can check the cadastral registry and see how your property is listed. If it is in D/2 category and you are owner and manager of that property, then you do not have to pay the June tranche.

Because I work with several foreigners who purchased a house in Italy, I have been in touch with many Municipalities, and most of them have not released and calculated the June 2020 IMU yet. So just be patient, but do not forget the expiration date (June 16th, 2020)!

Luxury Law

Thu, 05/28/2020 - 07:40

16th of June is the term within which you have to pay IMU. The second rate, as Alan said is the 16th of December.

However there are cases in which this tax is not due in June, due to the pandemic. You can find more info in this short article where it is explained who has to pay, when, and which category are exempted from paying.

Ciao!