Abuso edilizio

Building Irregularity

Irregularities resulting from unauthorized buildings, extensions or modification that have not been allowed through retrospective planning permission. Such issues prevent the sale of the property

Accertamento

(Tax) Assessment

Carried out by the tax police to ascertain the declared value of the property. This assessment is automatic if declared value is less than 100 times the notional rental value.

Accollo del mutuo

Mortgage Takeover

Where the buyer takes over any mortgages on the property he/she wishes to purchase and continues the outstanding repayments. This obviously requires a discount on the sale price.

Acconto sul prezzo

Down Payment on Price

A sum of money paid to the vendor contributing to the agreed price. This is not an earnest money deposit and is simply refunded if the sale does not go through.

A Corpo

As a whole

Sale is as a whole and not based on a unit value such as per square meter.

Affittacamere

Room rental

An activity regulated by public safety regulation for those who wish to rent out rooms as a profession.

Agente immobiliare

Estate agent

An intermediatory for sales transactions. The agent must no town the property in question and must be professionally listed at the Chamber of Commerce.

A misura

Per unit measurement

Sale of real estate based on a unit measurement (eg. square meter). Rarely used for residential sales due to potential risks involved. If there is a difference between that declared and the actual area, the buyer can claim damages.

Amministratore condominiale

Condominium Administrator

Nominated by the condominium members on a yearly basis. For condor with less than 5 apartments this role is optional.

Ampliamento

Extension

Building works that increase the area or volume of a property.

Annotazione ipotecaria

Mortgage remarks

The publication of the transferral of mortgage credit to from one bank to another.

Appalto

Contract

A contract including labour and/or supply of material to produce goods/real estate or services

Arbitrato

Arbitrator

Easier alternative to law courts for dispute resolution

Assemblea di condominio

Condominium assembly

Representing the desires of the condominium. All condo members attend and in certain cases usufructuries and tenants generally for decisions regarding heating and air conditioning.

Asta immobiliare giudiziaria

Judicial auction

Under certain circumstances, the judicial authorities may force the sale of a property. The auction starts with a base price on which each participant can raise the bid by a predetermined amount. The accepted highest bid is temporary for a period of 10 days during which it is possible to increase the bid by one-sixth of the accepted price. In this case, a tender is set up to establish the highest bidder. 

Attico

Top floor apartment

A flat roofed apartment with large roof garden.

Atto notorio

Notarised Deed

A document issued by a public official of minutes or sworn declarations

Atto pubblico

Public Deed

A document overseen by a Notary Public or public official in accordance with Italian law that is generally carries out specific checks of the content.

Atto sostitutivo di atto notorio

Affidavit

A declaration that substitutes certain public documents carried out in front of a public official who ascertains the identity of the person but not the content of the document.

Autocertificazione

Auto certification

A signed declaration that substitutes public documents with an annexed identity card.

Autorizzazione edilizia

Building Permit

A permit issued by the mayor of the municipality to carry out specific types of work such as special maintenance, insulation work etc). The submittal is assumed approved if there are no comments or clarifications within a 60 day period. This increases to 90 days for car parks. Such authorizations have been replaced by the DIA submittals. (see DIA)

Bed and Breakfast

Bed and Breakfast

Home based hospitality based on rooms within the house and includes breakfast, cleaning and change of bed linen. VAT numbers or special registrations are not required. Earnings are declared under the “miscellaneous income” section of tax returns.

Bene Immobile

Real estate

Includes the ground, the buildings, the wells, waterways and all that is artificially or naturally incorporated on the ground (eg. trees)

Bollo

Tax Stamp (Stamp Duty)

The name derives from the stamp applied to deeds or contracts for state taxes. The omission of such stamps does not make the deed null and void however fines are foreseen.

Buona fede

In good faith

May be insufficient to relieve one from an illicit deed if not accompanied by the normal due diligence.

Cancellazione di ipoteca

Removal of Mortgage

Removal of the mortgage recorded in the land registry. This is normally carried out by a notary following the repayment.

Canone

Rent

Periodical payments in return for the use or enjoyment of property or services.

Caparra confirmatoria

Earnest money deposit

A sum to guarantee the fulfilling of a contract. If the person paying this sum defaults, then they lose the refund. If the Vendor defaults, he/she refunds twice the sum. This does not exclude further claim to damages as per art. 1385 of the Italian civil code.

Caparra penitenziale o penale

Earnest money deposit

A sum to guarantee the fulfilling of a contract. If the person paying this sum defaults, then they lose the refund. If the Vendor defaults, he/she refunds twice the sum. This excludes further claim to damages as per art. 1386 of the Italian civil code.

Capitolato

Specifications

Description of the works and materials to be employed for the construction of a new building or the renovation of an existing.

Carico urbanistico

Urban index

Volume and quantity of building constructed or to be constructed in a given area.

Casa d'epoca

Period House

Generally used to describe an older building of noble origin.

Casa rurale

Rural Dwelling

Farmer's dwelling with all the necessary outbuildings to carry out farming activity.

Catasto

Land Registry

Used to survey all real estate and establish their “rental value” for the purpose of taxation

Catasto terreni

Land Registry - Rural

An inventory of land, rural buildings, roads, water ways and other constructions.

Catasto urbano

Land Registry - Urban

An inventory of all buildings. Recently includes rural buildings.

Categoria catastale

Cadastral category

Used to associate a category to each type of building depending on their use. Within each category there are further distinctions according to the importance (eg. A1 for noble property)

Classe catastale

Cadastral class

Categories have a  further division known as “classes” that refer to the quality and state of the property. In some cases, there can be up to 20 classes within a category. The lower the number the lower the quality or state of repair.

Cauzione

Guarantee deposit

Used as a guarantee to cover any potential damages. Sometimes required by law.

Certificato di destinazione d'uso

Destination of Use Certificate

Certificate issued by the local municipality giving the zoning of land plots according to the Area Development Plan. This certification is mandatory for deeds of sale.

Certificato di prevenzione incendi

Fire Regulations Certification

Certificate issued by the provincial fire department stating that the property in question is compliant with fire regulations.

Clausola abusiva

Abusive Clause

A clause that may be judged unfair or detrimental if not counterbalanced by another clause that favours the other party.

Clausola compromissoria

Arbitration Clause

A clause that allows disputes to be resolved outside a court of law in arbitration

Clausola di indicizzazione

Money Index Clause

A clause that index relates money to a predetermined index 

Clausola Istat

ISTAT Clause

A frequently used  inflation related money index based on national statistics related to the cost of living for families, factory worker and white collar employees.

Clausola penale

Penality Clauses

A clause establishing the penality for defaulting on specific contractual terms. (usually monetary).

Clausola risolutiva espressa

Resolution Clauses

A clause that resolves the contract without recourse to a judge if one of the parties defaults on a specific contractual commitment.

Coassicurazione

Multiple Insurance Policies

When damages is covered by more than one insurance policy, the policy holder is obliged to notify all insurance companies by Italian law. Payment will be made in proportion to the insurance coverage and cannot supersede the monetary damages.

Commissione tributaria

Tax Commission

Provincial entity specialized in the resolution of disputes between the taxpayer and the Inland Revenue

Committente

Client

The person who assigns building or plant works to a builder of tradesman.

Compromesso

Preliminary Contract of Sale

Common term (even though incorrectly used) to describe the contract of sale. This contract is valid between involved parties only and can force the  sale of a property through a court of law if necessary.

Comunione dei beni

Joint Ownership

Joint and undivided ownership of a property as per prenuptial agreements or governing law for married couples. The sale of a property may require the consent of a spouse.

Concessione edilizia

Building Permission

Building permission granted by the mayor of the local municipality generally used for new constructions or significant renovation works.

Condizione risolutiva

Resolution Conditions

Conditions that determine the resolution of a contract.

Condominio

Condominium

A type of ownership in real property where all of the owners own the property, common areas and buildings together, with the exception of the interior of the unit to which they have title.

Condono edilizio

Building Amnesty

A mechanism occasionally introduced to gain retrospective planning permission on unauthorized works by paying a special fine.

Conguaglio

Adjustment

An adjustment of credit or debits

Consegna

Hand Over

The delivery or possession of a property. This can occasionally occur before transfer of title

Conservatoria dei registri immobiliari

Deed and Mortgage Registry

Section of the land registry dealing with the recording of title of real estate and the entries of any mortgages of encumbrances. Rental contracts are also registered here.

Consistenza catastale

Cadastral Area

A cadastral parameter used to describe the size of a property in terms of “rooms” defined using specific criteria. This method will be soon substituted using square meters.

Contratto per persona da nominare

Contract to be concluded with nominated persons

This is a common formula introduced into preliminary contracts whereby the buyer reserves the right to nominate other persons, companies or entities for the completion.

Cucina abitabile

Habitable Kitchen

The minimum area required for a kitchen as specified in the local building regulations. This is generally between 7 and 10m2.

Dia (dichiarazione di inizio attività)

Declaration

This is a declaration prepared at least 20 days prior to building works together with plans and technical report submitted to the planning dept. by a professionally qualified architect, engineer or geometra for less significant modification works submitted to that generally 

Dichiarazione di successione

Inheritance Declaration

A declaration presented by the legal heirs to the Inland Revenue.

Dichiarazione Ici

ICI Tax Declaration

A declaration for the payment of local ICI taxes where variations of size and use (primary or second home) are made.

Direttore dei lavori

Director of Works

This is a legal figure that represents the Client (clerk of works) to ensure the correct and compliant execution of the contract with builders or tradesmen.

Diritto di prelazione

Pre-emption Rights

Allows third parties (adjoining farmers, commercial activity or state) first refusal on a purchase offer at the same conditions indicated in the completion deed of sale.

Diritto di superficie

Surface Rights

A right that allows you to construct a building without buying the land on which it is built. In general such rights have a duration of 99 years and is similar to a long term lease. By Italian law, the owner of the building coincides with the owner of the land on which it is built.

Disdetta

Termination Notice

A unilateral declaration that terminates contractual obligations which otherwise would have been automatically up for renewal.

Disimpegno

Corridor / Access Area

A small area with the function of connecting rooms. Generally the allowed ceiling heights can be 2.4m instead of the usual 2.7m.

Evizione

Eviction

A warranty against eviction resulting from third party claims. In real estate contracts the vendor guarantees the buyer the refund of the price, expenses and consequential damages.

Fallimento

Bankruptcy

A procedure whereby the assets of a business are sequestrated in favour of its creditors. The main actors are the bankruptcy court, the judge, the receiver and the committee of creditors. The creditors are divided into two groups namely privileged who have first claim (mortgage and state)  & unsecured creditors who can claim the remainder.

FIAIP

FIAIP

Federation of Italian Real Estate Agents associated with confedilizia

Fideiussione

Bank Guarantee

Guarantees the creditor that monitory obligations will be fulfilled.

FIMMAA

FIMMAA

Federation of Italian Real Estate Agents associated with confcommercio

Foglio di mappa 

Map Number

A land registry map representing a segment of a greater Municipality area where the plots shapes and numbering are indicated.

Garanzia per vizi

Defect Guarantee

A guarantee in real estate contracts against defects that could significantly reduce the market value of the property.

ICI

Municipal Real Estate Tax

A tax payable to the municipality based on the land registry value of the property.

Impianti elettrici

Electrical Plant

The electrical plant of a house must be compliant for the sale with the associated declaration by a qualified electrician

Imposta di donazione

Donation Tax

Tax payable on donations. For family & extended family members there are no taxes due. For real estate, only mortgage and cadastral taxes (2% + 1%) are due.  For others with the property value greater than 180,760 euro the normal taxes are applicable as per real estate sales are due on the excess amount.

Imposta di registro

Stamp Duty / Registration Tax

Taxes levied on real estate sales. For buildings this generally amounts to 3% for primary residence and 7% for a second home.

Imposta di successione

Inheritance Tax

Inheritance taxes on real estate recently removed in 2002. Mortgage and cadastral taxes are still levied at 2% + 1% respectively.

Imposte ipotecarie e catastali

Mortgage & Cadastral Taxes

Levied for the sale, inheritance or donation of real estate and are applied at 2% for mortgage and 1% for cadastral. This is reduces to a fixed amount of 258,23 euro for each in the case of primary residence.

Imposte di trasferimento

Transferral Taxes

These are the taxes paid by the buyer in the sale, inheritance or donation of real estate. They are composed of registration, mortgage and cadastral taxes

Invim

Capital Gains Taxes

Taxes payable on capital gains removed in 2002.

Ipoteca

Mortgage

A legal document recorded at the land registry by which real property is pledged as security for repayment of a loan until the debt is repaid in full. This procedure is overseen by a Notary Public in Italy .

Irpef

Irpef / Income Tax

Based on a person's income. For a property, the income is that indicated in the land registry as notional rental value. If the tax payer or his/her family live in the property, then there is a tax break equal to the amount due.

Istruttoria (nel mutuo)

The checks necessary to establish the mortgagee's repayments capability.

IVA / imposta sul valore aggiunto

VAT / Value Added Tax

Taxes levied by the state on commercial transactions. For the purchase of property from a company this is set at 4% of the declared value for the primary residence and 10% for second homes

Locatario

Tenant

Also referred to as conduttore

Locazione

Rental

The rental of a property over a set period for a fixed amount of money.

Mandato

Mandate

A contract whereby a party agrees to undertake a series of legal procedures on behalf of another party. This could be the case of a Vendor instructing an estate agent to sell property exclusively on their behalf.

Multiproprietà

Timesharing

The right to use a property for a specific period of the year.

Mutuo a tasso fisso

Fixed Rate Mortgage

Interest rate is fixed upon signing of mortgage agreement.

Mutuo chirografario

Loan

A personal loan for a period of up to approx. 5 years without the collateral of real estate.

Mutuo indicizzato

Variable Rate Mortgage

Mortgage using a variable index as a reference (eg Euribor)

Mutuo misto

Fixed/Variable Mortgage

A mix of fixed rate interest rate for a certain amount of years followed by a variable rate thereafter.

Mutuo ponte

Bridging Loan

Gives the possibility to buy another home before selling the existing one.

Nuda proprietà

Bare Ownership

This refers to the claim an owner has on a property when it is given in life lease. The owner has no right until the conclusion of usufructuary

Onere

Burden / Limitation

Often results in an outstanding tax that has not been paid.

Partita catastale

Land registry Search by Name

The list of all real estate owned by an individual or company

Particella catastale

Land Registry Plot / Parcel

This is the representation of land plot or building owned by the same owner(s).

Perizia

Technical Survey / Report

This is the report generally prepared by a qualified architect, engineer or geometra regarding the value of the property,  reparation/renovation costs or the existence of specific problems/defects.

Permuta

Exchange

The exchange of houses permitted by the Italian Civil Code

Pertinenza

Appurtenance

An autonomous section of building/building that “serves” with the principal building. This could be a garage or a cellar.

Piano di ammortamento

Sinking Plan / Amortization Schedule

Schedule of repayments generally divided into capital and interest.

Piano di lottizzazione

Allotment Plan

Allotment plans generally used for new housing developments less built up areas.

Piano di recupero

Recovery Plan

An urban recovery plans generally dealing with specific areas/villages with the idea of removing “eye sore” modifications and generally giving the area a nice face lift. The procedures involved are less bureaucratic and a detailed building-by-building list is available at the local planning dept.

Piano particolareggiato

Specific / Detailed Plan

See Piano di recupero

Piano regolatore generale comunale

Area Development Plan

This is the official reference document on which planning decisions are based. The document assigns zones for residential, commercial and industrial use as well as roads and general infrastructure. The ADP often undergoes significant modifications undermining it's initial objectives.

Pignoramento

Lien

An official claim or encumbrance against property used to secure a debt, a charge or the performance of some act

Prelazione

Pre-emption Rights

Allows third parties (adjoining farmers, commercial activity or state) first refusal on a purchase offer at the same conditions indicated in the completion deed of sale.

Prima casa

Primary Residence

Generally used from a tax perspective where there are significant discounts if the property inherited, bought or received by gift becomes the primary residence within 18 months of the transaction.

Privilegio

Privilege

This generally refers to the privilege claim by creditors (state privilege or mortgaged properties)

Procura

Power of Attorney

Generally used by buyers or vendors who confer special power of attorney on a person to represent them for specific transactions. Such documents are prepared by Notary Publics or through Italian Consulates abroad.

Promissario acquirente e venditore

Buyer / Vendor

Refers to the “promising” buyer or vendor in a preliminary contract of sale.

Provvigione

Commission

The commission due to estate agents from both the buyer and vendor. This can vary from 2% to 5% depending on the area/ estate agents and does not include VAT levied at 20%.

Recesso

Withdrawal

Withdrawal from a contract is allowed by law upon unilateral communication to the other party involved.

Regolamento condominiale

Condominium Regulations

Regulations drawn up within a condominium to address items not specifically mentioned in the Italian Civil Code. Modifications are possible with a unanimous vote for contractual type and a majority vote for internal assembly type.

Regolamento edilizio

Building Regulations

This document prescribes building procedures within a municipality, together with the function and composition of buildings, compliance of technological requirements, the characteristics of new buildings, renovation works and building sites.

Rendita catastale

Notional Rental Income

This is a notional rental value associated with properties with the objective of applying state and local taxes. This value multiplied by 100 and increased by a specific % gives the minimum declared value for the property in question.

Rendita catastale presunta

Estimated Notional Rental Income

This is a temporary rental value assigned to a property.

Rendita agraria

Agricultural Rental Income

This is the rental value assigned to agricultural land according to the type of cultivation. This value has no relationship with current market values.

Rendita dominicale

Agricultural Rental Income

This is the rental value assigned to non-agricultural land. This value has no relationship with current market values.

Risoluzione del contratto

Cancellation of Contract

Conclusion of a contract often due to default by one of the parties or the impossibility to proceed

Ristrutturato

Renovated / Remodelled

This term is used when a house or apartment has been renovated with no further building works required.

Rogito

 Notarised Deed

The deed transferring title of property overseen by a notary public. Can be in the form of a public deed or an authenticated private contract.

Separazione dei beni

Separate Ownership of estate

Separate ownership of a property as per prenuptial agreements or governing law for married couples

Servitù

Servitude / Easement

This is typically a right of way running through property in favour of third parties or through other property in favour of the owner.

Sfratto

Eviction

A procedure requiring the assistance of a judge and the police force to carry out an eviction order.

Subalterno catastale

Cadastral Subsection

Generally used to describe an appurtenance of a main dwelling.

Tassa rifiuti

Refuse Tax

Tax payable for the collection of refuse and generally in ratio to the floor area of the property.

Terrazzo

Terrace

Generally a minimum of 2m deep with a surface area of at least 10m2.

Trascrizione

Recording / Entry

This is the recording of the transfer of title and is carried out at the land registry for mortgages and titles generally by a Notary Public.

Ufficio del Territorio

Territory Office / Ex-Land Registry

This is the new name that unifies the land registry – cadastral & the deeds and mortgages office

Uso

Usage

The right to enjoy the use of immovable or movable property even though the person is not owner. (eg family member)

Usufrutto

Right of Usufruct / Life Tenancy

The right to enjoy the use and returns of immovable or movable property even though the person is not owner. Such rights generally terminate upon death

Visura

Search

Often refers to land registry searches to determine the composition and title of a property and the existence of mortgages or other encumbrances.

Voltura catastale

Change of Title

Change over of title recorded in the land registry