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“Legge di stabilita` 2016 ” is the new Italian budget. It came into force on the 1st January 2016 after protracted political negotiations. As for similar earlier legislation, it is made up of just one very long Section (Articolo 1 ), which in its turn is divided into 999 numbered paragraphs without headings to assist [...]
Trusts were unknown in Italy, until a few years ago. Italy being a Civil Law country, totally ignored Trusts as developed in Common Law jurisdictions. Following the introduction of The Hague “Convention on the law applicable to trusts and on their recognition” with a law in 1989, the use of Trusts has slowly spread in Italy. Like [...]
New legislation on Italian wills and international succession – why you should revise your Italian will.
A raft of recent legislation has introduced several changes to the established rules on Italian succession. Completely new rules apply to successions with an international element, following the coming into force of an EU Regulation on the 17th August 2015. This new legislation was intended to be a “simplification” or an improvement of the previous [...]
Legislation issued in September 2014, currently in force and yet to be confirmed by the Italian Parliament, has introduced a new way of buying a property in Italy. “Rent to Buy” agreements or more specifically “Contratti di godimento in funzione della successiva alienazione di immobili ” enable potential buyers to immediately access Italian properties they wish [...]
A specially constituted Italian Supreme Court (Corte Suprema di Cassazione) rejected on 20.06.2014 the proposed application of a foreign jurisdiction clause in a foreign trust deed, where such trust conflicted with the Italian “forced heirship rules” (Successione necessaria) - this is Italian legislation which grants to the members of the Deceased`s family a minimum, statutory [...]
A recent ruling of the Italian Constitutional Court has repealed with immediate effect anti avoidance regulations aimed at tax evading Italian landlords dating back to 2011. Because of the immediate effects of this ruling and the operation of the abrogated legislation over the past three years, complex issues are now left open for interpretation. Following [...]
New legislation, coming into force on the 1st January 2014 will make substantial changes, actual improvements to the way the Italian property market works. New, improved selling / buying procedures are introduced. At the same time, the taxation of Italian properties will also change. Reduced rates of tax will become applicable to property transfers, new taxes [...]
From 21st September 2013 mediation has been formally re-introduced in Italy as a compulsory step, for some disputes, before the parties may apply to the courts. Mediation has had a checkered life in Italy. Introduced in 2010 as an attempt to deflate the spiralling burden of litigation and of arrears pending in the Italian courts, [...]
On the 6th June 2013 new legislation was brought into force in Italy to implement, once again, what is currently Directive 2010/31/EU on the energy performance of buildings. Under this new legislation, the name of Italian energy performance certificates (previously called “Attestato di Certificazione Energetica” or ACE for short) was changed to “Attestato di Prestazione [...]
If you own a flat in Italy as part of a block of flats, what is the extent of your liability for the debts and obligations arising from the common parts of the building, or, in Italian legal terms, of your “Condominio ” ? Is there a risk that you may be required to pay [...]