3 Key Things To Know About Italian Notary Deeds
There are 3 basic and very important things that you should be aware of about Notary Deeds in Italy:
It’s a public deed
It must contains a precise list of details per law
Its costs are charged to the buyer
Let’s see these three aspects in detail.
#1 - The notary deed makes the property transfer effective
With the notary deed, the Notary formalizes the transfer of ownership of the property, by transcribing it in the real estate registers.
The “rogito” (notary deed) is a public deed drawn up by the Notary, who gives public faith to what happens in his presence. Its definition is contained in article 2699 of the Italian Civil Code:
"The public deed is the document drawn up, with the required formalities, by a notary or other public official authorized to attribute public faith to it in the place where the deed is formed."
The signing of the deed takes place after the reading of the contract by the Notary in front of all the parties.
The Notary must fully explain and read the content of the deed to the parties and any witnesses, making sure they clearly understand its content and legal effects. If he doesn’t do so, he’s liable for the crime of forgery in a public document.
#2 - What a Notary Deed must contain
The deed must have a very specific content, as required by art. 51 of the law on the organization of notaries n. 89/1913.
In addition to the elements included in the Preliminary Agreement, the deed must include in particular:
Heading "Italian Republic”;
Personal details of the parties (seller, buyer, real estate agent, witnesses, guarantors or legal representatives; attachment of the copy or original of the power of attorney);
Name, surname and indication of the residence of the Notary and of the Notary's board to which he/she is enrolled;
Property data, written in letters and in full (address, cadastral data, precise description);
Set price and expected method of payment (deposit / balance);
The indication of the titles and deeds that are included in the atto;
Any special agreements;
The signature consisting of the name and surname of the parties, the guarantors, the interpreter, the witnesses and the Notary (for the deeds with several sheets, the signature must be placed in the margin of each sheet).
#3 - All notary fees are charged to the buyer
Notary costs (fees, deed of sale and any deed of mortgage, rights and administrative charges) are charged to the buyer.
The cost of the deed depends on various factors: value of the property, nature of the seller (company or private), primary or second home, presence of a mortgage.
Do you have any specific question related to notarial issues? No panic, we can put you in contact with our local notaries!