PRODUCT #1 – LEGAL CHECK
The main legality control activities are:
- Verification of the identity of the parties who intend to buy and sell;
- Verification of the parties’ ability to perform such acts;
- Verification of the matrimonial property regime (communion or legal separation of assets);
- The legitimacy to intervene in the act.
The control over the identity of the parties serves to avoid the risk of identity theft. The phenomenon is so serious that in the United States, the FBI has requested the collaboration of the Italian Notariat for the guarantees offered by our legal system and to prevent fraud of this type (Source: www.notariato.it)
Verification of the non-existence of previous mortgages, or constraints or foreclosures at the Territory Office of the Revenue Agency and the urban planning and cadastral regularity of the properties.
The control of particular disciplines (e.g. in terms of public residential construction, the existence of subjective requirements for the buyer, or price constraints, or any pre-emption rights or, again, in the case of assets of historical, artistic, archaeological interest).
Identification of the tax regime that best suits the specific case and verifying the existence of the requirements to benefit from any tax breaks that Italian law provides (e.g. purchase of a first home, or the tax credit or exemption from taxes in the event of transfers in the execution of separation or divorce agreements).
If problems arise from due diligence, how can they be solved?
We have several professionals at our service ready to intervene.
We quickly find a solution to the most different problems that may arise, even the most complex ones. Our Lawyers have decades of experience in the field of real estate, as well as our Architects, Surveyors, and Engineers. The times and costs will obviously vary according to the problems to be solved also in consideration of the authorizations of the various competent offices that will necessarily be involved.