Real Estate Legal Services Italy, Umbria

Legal Assistance (avvocato) – Real Estate Agent – Due Diligence – Preliminary Agreement – Legal Compliance and Documentation – Final Contract (Rogito) – Notary (Notaio), Post-Purchase Assistance – Tax and Estate Planning

1. Preliminary Legal Advice

• Understanding Italian Law: Your lawyer will explain the legal framework governing property transactions in Italy, particularly focusing on regional laws in Umbria.
• Review of Restrictions: They will verify whether there are any restrictions on foreigners purchasing property in Umbria, especially if you’re a non-EU citizen.

2. Due Diligence

• Title Search: The lawyer will perform a thorough search of the property’s title to ensure it is free from liens, mortgages, or other encumbrances. This includes checking the Land Registry (Catasto) for accurate records.
• Zoning and Planning Compliance: They will check that the property complies with local zoning laws and that there are no illegal constructions or unapproved renovations, which could affect the value or legality of the property.
• Outstanding Debts and Taxes: They will confirm that all property taxes (IMU, TASI) and utility bills are up-to-date, ensuring you don’t inherit any unpaid obligations.

3. Negotiating the Preliminary Agreement (Compromesso)

• Contract Drafting: The lawyer will draft or review the preliminary agreement to ensure it is fair and protects your interests. This contract includes the purchase price, payment schedule, and any conditions precedent (e.g., obtaining financing).
• Negotiating Terms: They will negotiate terms with the seller’s representative to secure the best possible deal, addressing any contingencies that may arise.
• Deposit Protection: Your lawyer will ensure that your deposit is protected and outline what happens if either party fails to complete the transaction.

4. Legal Assistance (Avvocato)

• Role of a Lawyer: While not mandatory, hiring a lawyer can help with due diligence, drafting, and reviewing contracts. Lawyers typically charge 1% to 2% of the property value.
• Due Diligence: Your lawyer will check for legal issues like unpaid taxes, encumbrances, or disputes over the property.

5. Coordinating with the Notary (Notaio)

• Selecting a Notary: Although the notary is impartial, your lawyer will help choose a reliable notary and coordinate with them to ensure all documents are in order.
• Final Deed (Rogito): The lawyer will review the final deed of sale to ensure all terms from the preliminary contract are correctly incorporated.
• Representation at Closing: If you cannot be present, your lawyer can act on your behalf, ensuring the transaction is completed smoothly and in your best interest.

6. Financial Management

• Transfer of Funds: They will manage the transfer of funds, ensuring that payments are made according to the contract and that all costs, including taxes and fees, are correctly calculated and paid.
• Currency Exchange and Bank Liaison: For foreign buyers, the lawyer can assist with currency exchange and liaise with Italian banks to facilitate the financial aspects of the purchase.

7. Post-Purchase Assistance

• Property Registration: The lawyer ensures that the property is correctly registered in your name at the Land Registry, officially transferring ownership.
• Utility and Service Transfers: They can help arrange the transfer of utilities and services to your name, streamlining the post-purchase process.
• Ongoing Legal Support: If you encounter any issues after the purchase, such as disputes with neighbors or problems with local authorities, your lawyer can provide ongoing legal support.

8. Tax and Estate Planning

• Tax Advice: The lawyer can advise on the tax implications of your purchase, including annual property taxes, potential capital gains tax, and inheritance tax if the property is to be passed on.
• Estate Planning: If the property is part of your estate, the lawyer can help structure your affairs to minimize inheritance taxes and ensure a smooth transfer to your heirs.