When buying or selling a property in Italy, a notarial deed, also known as “rogito notarile,” is a crucial document that formalizes the transfer of ownership. In this article, we will explore the concept of a notarial deed, its significance, and the procedures involved in its execution.
What is a Notarial Deed?
It is a public document that confirms the sale or purchase of a property. It is a legally binding contract between the buyer and seller, witnessed by a notary public. The notary public is responsible for ensuring that the document is executed correctly and that all necessary formalities are observed.
The Importance of a Notarial Deed
The notarial deed is essential for transferring ownership of a property in Italy. Without it, the sale or purchase of a property would be considered null and void. The deed serves as proof of ownership and is required for registration with the relevant authorities, such as the Land Registry and the Tax Office.
The Procedure for Executing a Notarial Deed
The procedure for executing a notarial deed involves several steps:
- Contract: The buyer and seller sign a contract, also known as a “compromesso,” which outlines the terms and conditions of the sale.
- Notarial Deed: The notary public drafts the deed, which includes the details of the sale, such as the property description, price, and parties involved.
- Signing the Deed: The buyer and seller sign the notarial deed in the presence of the notary public.
- Registration: The notary public registers the deed with the relevant authorities, such as the Land Registry and the Tax Office.
Essential Requirements
A notarial deed must contain the following essential elements:
- Parties’ Personal Details: The names, addresses, and identification details of the buyer and seller.
- Property Description: A detailed description of the property, including its location, size, and boundaries.
- Purchase Price: The sale price of the property.
- Catastal Details: The property’s cadastral details, including its cadastral number and planimetry.
- Any Encumbrances: Any mortgages, liens, or other encumbrances on the property.
Documentation Required for a Notarial Deed
The following documents are typically required for a notarial deed:
- Preliminary Contract: A copy of the preliminary contract, including the registration details with the Tax Office.
- Payment Receipts: Receipts for payments made during the registration process.
- Identification Documents: Identification documents, such as passports or identity cards, for the buyer and seller.
- Catastal Documents: Official cadastral documents, including the property’s planimetry and cadastral certificate.
- Energy Performance Certificate: The original energy performance certificate (APE) for the property.
The Role of Berti Law Firm
At Berti Law Firm, our experienced lawyers specialize in real estate law and can guide you through the process of executing a notarial deed. We can assist with drafting and reviewing the preliminary contract, ensuring that all necessary documentation is in order, and representing you during the signing of the notarial deed.
By working with Berti Law Firm, you can benefit from our extensive experience in real estate law. Our lawyers have a deep understanding of the Italian property market and can help you navigate the complexities of the notarial deed process. We can also provide guidance on Italian property law, including the laws governing property ownership, transfer, and registration.
How much does it cost?
The cost of a notarial deed varies depending on the type of property being sold, its value, and the notary public’s fees. The notary public’s fees are typically between €1.500 and €2.500, plus VAT. Additional costs include registration fees, taxes, and other expenses.
Who Pays the Notary’s Fees?
The buyer typically bears the notary’s fees, although this can be negotiated between the parties.
Difference between a Notarial Deed and a Notarial Act
A notarial deed and a notarial act are often used interchangeably, but they refer to the same document. A notarial deed is a public document that formalizes the transfer of ownership of a property.
Timeframe for Registering a Notarial Deed
After it is signed, it must be registered with the relevant authorities within 30 days. The notary public is responsible for ensuring that the deed is registered correctly.
What Happens after the Notarial Deed is Signed?
After the notarial deed is signed, the buyer receives a certificate of execution, which confirms that the deed has been signed. The notary public then registers the deed with the relevant authorities, and the buyer receives a copy of the registered deed.
Notarial Deed without a Preliminary Contract
While it is possible to execute a notarial deed without a preliminary contract, it is not recommended. A preliminary contract helps to identify any potential issues with the property, such as outstanding mortgages or liens, and allows the parties to resolve these issues before proceeding with the sale.
Common Issues that May Arise
During the notarial deed process, several issues can arise, including:
- Outstanding Mortgages or Liens: The property may have outstanding mortgages or liens that need to be resolved before the sale can be completed.
- Cadastral Issues: The property’s cadastral details may need to be updated or corrected before the sale can be completed.
- Boundary Disputes: There may be disputes over the property’s boundaries that need to be resolved before the sale can be completed.
Your Partner in Real Estate Transactions
At Berti Law Firm, we have extensive experience in real estate law and can assist you with all aspects of buying or selling a property in Italy. Our services include:
- Drafting and Reviewing Preliminary Contracts and Notarial Deeds: We can help draft and review preliminary contracts and notarial deeds to ensure that they are comprehensive and accurate.
- Ensuring Compliance with All Relevant Laws and Regulations: We can ensure that all necessary formalities are observed and that the sale or purchase of the property is compliant with Italian law.
- Representing Clients during the Signing of Notarial Deeds: We can represent you during the signing of the notarial deed, ensuring that your rights are protected and that the deed is executed correctly.
- Assisting with Registration and Taxation Matters: We can assist with registration and taxation matters, ensuring that the property is registered correctly and that all necessary taxes are paid.