Buying a house in Italy?
The preliminary contract is a crucial document when buying a house in Italy, as it outlines the specific terms and conditions of the transaction.
It is often necessary to carry over the terms and conditions from the reservation offer to the preliminary contract. Moreover, the notary public will use the preliminary contract, or “contratto preliminare di vendita” to prepare the deed of sale during the final stage of the purchase process.
Fortunately, buying a house in Italy has recently become easier. On March 7, 2023, the Italian Revenue Agency launched an online system that allows buyers to register their preliminary contract of sale. Prior to 7 March 2023, registering a preliminary contract entailed visiting a local tax office, within 30 days from the date of signing. The new online development removes the need to visit the tax office. In effect, it simplifies the registration process, saving buyers and sellers both time and effort.
Why register a preliminary contract when buying a house in Italy?
In Italy, it is not mandatory to register the preliminary contract with the Revenue Agency. However, it is recommended to do so. Registering the preliminary contract can be done either by the buyer or the seller. The registration of the preliminary contract can be helpful for several reasons:
Registering the preliminary contract provides legal protection to both the buyer and the seller. It establishes a written record of the agreement between the parties, which can help prevent disputes and misunderstandings later on.
Registration of the preliminary contract can help prevent the seller from selling the property to another buyer. This is because the registration creates a public record that the property is under contract, which can be viewed by anyone.
Registering the preliminary contract can help avoid disputes between the parties, as it provides evidence of the terms and conditions agreed upon by both parties. If a dispute arises, either party can use the registered contract as evidence in court to support their position.
Protects the buyer’s rights
Registering the preliminary contract can protect the buyer’s rights in case of any issues that may arise during the sale process. For example, if the seller fails to transfer ownership of the property, the buyer can use the registered contract as evidence of their right to the property.
Clarifies the sales process
Registering the preliminary contract can help clarify the sales process for both parties. It sets out the terms and conditions of the sale, including the agreed purchase price, payment terms, and deadline for completion of the sale. This can help ensure a smooth and transparent transaction for both parties.
Buying a house in Italy: registering the Preliminary contract online
The new online service makes it possible to send the preliminary contract registration request for a house in Italy directly from your computer. It will also allow you to attach all the necessary documentation, including the preliminary contract and any plans relating to the property. Since there is no need to submit hard copies of the documents, the registration process will be faster and more efficient.
To register online, you will have to log in through the required procedure in the new RAP service. The new format facilitates the registration process and ensures that users submit all the necessary information correctly.
How to use the online service
The new form requires that the user indicate the necessary data and attach a signed copy of the contract along with any other relevant documents, including private deeds, inventories, maps, plans, and drawings.
Once the user enters the required information, the system will automatically calculate the stamp duty and registration fee, which the user can directly pay online.
If you are thinking about buying an Italian property, why not talk to us? De Tullio Law Firm can advise and guide you throughout your Italian property purchasing journey. We have over 55 years of experience working with clients on their Italian and cross border property, family and inheritance matters. Get in touch.
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