Italian Real Estate Law
Why can it be worth to draft an Italian Will?
It is generally recommended that foreign citizens who own Italian Real Estate assets draft an Italian Will. This will prevent significant difficulties that heirs might encounter when transferring the ownership of Italian properties originally registered in the name of the testator. (http://www.detulliolawfirm.com/wills-and-probates.html)
As matter of fact if the deceased has not left a will (therefore dying intestate), the legal succession applies. In such cases, the Italian law determines which relative of the deceased has the right to succeed (primarily the spouse, the legitimate and natural children and descendants). In absence of a Will, and in the case of a lack of heirs, according to Italian law, the hereditary assets present in Italy would be assigned to the Italian State.
According to Italian law, all Wills must be published by an Italian Notary Public, and he will not publish or legalize documents drafted in a foreign language unless duly translated in to Italian by a sworn translation. Such a task will most likely involve the assistance of a qualified legal translator/interpreter.
We can help you draft a bilingual Italian Will, in compliance with Italian legislation, in order to minimize the effects of the Italian legal succession, and in order to try and ensure that your Italian property will be assigned only to the people you have indicated. We will provide assistance with Italian inheritance law (http://www.detulliolawfirm.com/italian-inheritance-law-basics.html).
By drafting an Italian Will, the testator effectively minimizes the risk of conflicts among the heirs. A Will also ensures that Italian authorities have a clear and direct understanding of the legal framework.
In order to be eligible to draft an Italian Will the testator should be at least 18 years old, be the legal owner of the assets in the Will, and of sound mind. After the death of the testator the Will must be published with the support of an Italian Notary Public. Subsequently the heirs will be in the position to proceed with the Italian Probate (Denuncia di Successione – htttp://www.detulliolawfirm.com/wills-and-probates.html). This should be executed within one year following the death of the testator. Once this procedure has been completed, it is possible to change the title of ownership of the Italian assets (Voltura).
If you need further information concerning Italian inheritance law please feel free to contact our offices. If you are the heir of an estate, we can assist you during the publication of the Will, the probate and the payment of any inheritance tax that may be applicable. We can also assist with the formal acceptance of the inheritance.
Please note, any statement made in this article is intended to be a general practical introductory explanation only and not advice. This firm accepts no liability or any responsibility for any statement made.
About the Author
De Tullio Law Firm is an international law firm specialized in Italian cross border real estate transactions, and Italian inheritance law. Along the years, it has gained a wide experience in such fields, by providing assistance with wills & probates, EU law, litigation, arbitration, taxes and corporate law.
De Tullio Law Firm is listed on the British and American embassies websites, and contributes as legal expert with several publications.
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