Legal and Property news in Calabria by The Calabrian Voice
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Why say NO to the best exchange rate in 18 months?

    If someone offered to cut 15 percent off the cost of your dream overseas property, would you say NO? I think I know
    the answer to that question but that is what many European property buyers are doing right now although some of
    the reasons for doing so just don’t make sense. MORE

Insurance policy for off-plan properties

    According to article 4 of the legislative decree 122/2005 the construction company is obliged to deliver to the buyer,
    at the moment of the transfer of ownership, an insurance policy as guarantee for eventual serious construction
    defects affecting the property. Such insurance has a cover of 10 years. A good piece of advice is requesting the
    Notary to make explicit reference to the insurance policy in the Deed of Sale. This article is aimed at explaining what
    type of defects would be covered under this guarantee. MORE


Mediation and alternative dispute resolution

    The need of this short legal note arises from the fact that Italian Courts unfortunately are notorious for being very
    slow to judge and taking final decisions. To give you an idea and some unbelievable numbers regarding the
    average duration of civil judicial proceedings in Italy at first instance is 968 days and then at second instance is
    1511 days. Therefore to get a decision by a Tribunal in Italy normally the private person who wishes the recognition
    of his rights has to pay a lot of legal expenses and has to be very patient awaiting usually for 2479 days which is
    around 6 and a half years . Also in a case filed in court the disputant will get by the judge or jury a resolution which
    probably will leave neither party to the dispute totally happy. MORE

THE CLOSING PROCESS TO BUYING A PROPERTY ABROAD

    The closing process for a home purchase can be briefly described as the definitive and official moment of a long –
    and sometimes stressful - procedure started with the chosen of a property.
    As said by a famous writer “all those hours spent negotiating, late evening spent crunching the numbers, long days
    spent walking through and assessing the property, sleepless nights spent waiting for loan approval, the time spent
    dealing with your partners and handling investors it is scheduled to come to end on closing day”.
    But first there are such many elements which need to be monitored for getting the best result when a private person
    is involved in the last moment of his purchase or – as usually named – in the “completion”. Here you have a rough
    guide for the completion by all the necessary steps to be performed.  MORE

THE PROTECTION OF BUYERS IN THE CASE OF THE BUILDING TO BE BUILT

    The reason of this legal short notes born from the necessity to inform all the English speaking persons who are
    buying a off plan property in Calabria as unfortunately many problems have been registered in the last period about
    the process concerning the purchase of a unit included in a building to be built.  MORE


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