Specific registrations

REGISTRATION OF SALES

1. Documents for sales. What type of documents does your LR system envisage for sales and carrying out their registration ?

For registration it is necessary a Public Document drawn by a notary

2. Method of registration. Please, indicate which of these circumstances or data form part of the content of the registration annotated in the registration books or land books for sake of a sale or conveyance.

Some circumstances, like name and surname of the new owner, date of birth, share, matrimonial regime in case of married persons, and a reference to the deed. A copy of the deed is collected too.

REGISTRATION OF MORTGAGES

1. Please, indicate what main legislation governs mortgages in your system.

Mortgages are regulated by Civil Code,  LR law and D.lg. 01.09.1993 nr. 385.

2. In your LR system, is the registration of a mortgage constitutive?

In contrast with the provisions of Italian Civil Code property rights are not acquired until they are legally entered in the land register. Both title and entry are required.

The constitutive effects of registration are indeed valid for mortgage as well as for any other contract between living persons.

3. Documents. What type of documents your LR system admits for establishing mortgages and carrying out their registration ?

• Authentic Instrument issued by notary. Yes
• Authentic document issued by other authority or public officer empowered by the State (e.g. civil servant).Yes, under cerain circumstances.
• Documents drawn up by a licensed professional (who is not an authority strictu sensu) and signed by the interested parties, such as solicitors, other legal practitioner or conveyancer, real estate agent, bank agent or others (please specify). No.
• Documents drawn up by the interested parties with the authentication or formal identification made by a Public Authority (e.g. Court or Land Registry Official…). Yes, under certain circumstances.
• Documents  drawn up by the interested parties with the authentication or formal identification made by an authorized person appointed for that purpose by the State but who is not an authority or a public officer. No.

4. Method of registration. Please, indicate which of these circumstances or data form part of the content of the registration annotated in the registration books or land books.

Example of regsitration in land book:

14/01/2011 – G.N. 178/1 INTAVOLAZIONE DIRITTO DI IPOTECA

IMPORTO COMPLESSIVO EUR 184.000,00

Di cui Euro 115.000,00 di  capitale, Euro 69.000,00 per tre annualità di interessi al tasso nominale annuo del 3,25%, interessi di mora la tasso del 7,25%, spese ed accessori ai sensi dell’art 7 dell’atto.

Atto d.d. 12/01/2011

Cassa Rurale Della Valle Dei Laghi – Banca Di Credito Cooperativo – Società

Cooperativa sede di Padergnone

5. Types of mortgages. If you believe it appropriate, indicate the kinds of mortgages which are relevant in your LR system.

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6. Modifications. What does your legal system envisage about modifying mortgages? Do debtors have any legal possibility of negotiating newly the terms of the contract or any part of them?

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REGISTRATION OF JUDICIARY CHARGES

1. What kind of orders or judgments can create, modify or cancel an entry in your LR system ?

In tavolare system different types of judicial orders are presented for registration. The more common orders are:

• Judicial orders of provisional measures to attach restrict disposition acts or freeze the assets of the debtor.
• Judicial decisions in foreclosure proceedings.
• Judicial decisions transferring the ownership or recognizing the property or other real rights on an immovable asset.
• Judicial decisions ordering rectification of an entry in the Land Registry.
• Judicial decisions about insolvency of owners or holders of property rights or rights in rem.

Although issued by a judge, these orders cannot create, modify or cancel an entry in the land registry without a specific request domanda tavolare followed by a decree of the land register judge (giudice tavolare).

2. What’s the kind of registrations or entries caused in registration books or land books by these judiciary orders or decisions?

• Registration intavolazione : which has the effect of acquiring, modifying or extinguishing a right, when the title consists of a judgment not subject to appeal.
• Booking prenotazione: which has the effect of registration, if  subsequently justified: see above 4, when the title consists of a judgment still subject to appeal.
• Annotation annotazione in the other cases.

3. In particular, are creditors-plaintiffs who demand payments of sums or money entitled to rely on the Courts and apply for annotations (caveats) or judiciary mortgages in order to attach debtors’ assets?

No.

The entry of the attachment in the Registry is obligatory and constitutes the enforcement together with the notification of the attachment to the debtor.

The entry is requested by the bailiff or the proceeding creditor on the basis of an enforceable decision or an interim measure.

The entry allows the creditor to expropriate the immovable asset against everyone.

The entry remains valid 20 years (extendible upon request) and it is deleted, upon request, at the end of the enforcement proceeding by the land registrar on the basis of an order of the enforcing judge and a subsequent decree issued by the land register judge.

Attached properties can be transferred without prejudice to the right of the person in favour of whom the attachment is made.