Title deed in Italy. Change of Names.
Registering names on a title deed in Italy
The final step of the Italian conveyancing process is signing of the deed of sale. In effect, the title deed in Italy transfers ownership of real estate into someone’s name.
This legal procedure demands the presence of a notary public, the real estate vendor(s) and buyer(s) and two witnesses.
The notary reads aloud the entire deed, which is written in Italian. All parties, including the witnesses and the notary public, then approve and sign the title deed.
If one of the parties to the transaction is not fluent in the Italian language, Italian law requires the presence of a qualified professional to translate and interpret the title deed. This could be a translator or a bilingual property lawyer. This legal requirement aims to ensure that all parties fully understand the content and ramifications of the deed. The professional acting as translator must also sign the title deed.
Once the notary has signed-off on the deed, the buyer acquires ownership of the real estate.
Subsequently, the notary is responsible for certain formalities. Because notaries work for the Italian State, registering the deed with the tax authorities is the first step. Next the notary lodges the deed in the Public Registers. This allows any third parties who may have an interest to know about the change of ownership. Lastly, the notary informs the land registry so they can update their records accordingly.
How do you change the name on an Italian property / title deed?
There are many reasons why you may need to change the name on a title deed in Italy. Divorce and death are the most common reasons.
In order to change the name on a title deed, you will require a new notarial deed.
For example, if you acquired a property with a spouse and following a divorce you need to remove one of the names from a real property title deed, you will need a new notarial deed.
Where the divorce decree is from an Italian Court, the transfer of ownership will not involve payment of any real estate transfer tax.
If on the other hand, the divorce decree is issued by a non-Italian Court, you will have to pay real estate transfer tax.
The terms of the new title deed determine applicable tax rates. It will depend whether the real property changed hands without any payment or if there was a financial transaction involved. In the latter case, you will need a new deed of sale.
How do you find out whose name is on a title deed in Italy?
In order to find out whose name appears on a title deed, you will need to conduct mortgage and cadastral searches.
For more information and clarification or, if you need to change a name on a title deed or ascertain whose name is on a real property title deed, feel free to get in touch with us. We are here to help.
You may also like to read: Translating legal documents in Property Transactions