I am looking to buy a property with some friends and we were wondering how easy it would be to divide it into two apartments. The house we are looking at could easyly acomodate this from a design point of view but does anyone know what the legal implications are?
Category
Property Sales/Rental Advice
Submitted by Anonymous (not verified) on Wed, 10/05/2005 - 18:20
[QUOTE=jivah]I am looking to buy a property with some friends and we were wondering how easy it would be to divide it into two apartments. The house we are looking at could easyly acomodate this from a design point of view but does anyone know what the legal implications are?[/QUOTE]
Up to the moment you split the property, you have a joint ownership called in italian "comunione", with its specific rules about administration, use, maintenance, essentially based on the majority rule and, of course you have a jointly responsability for all the possible problems related to ownership.
If you have already an idea about the future splitting, in could be useful (almost necessary) to sign a precautionary agreement where to establish, in advance, the part of the property each party will get as sole proprietor, the works that need to be made jointly and the allocation of the expenditures.
Once the property is ready to be splitted, you need a second contract, before a notary, called "divisione", where the property is finally separated in two parts.
Re. the tax point, the first contract (jointly purchase) pays the "traditional" 10% for tassa registro, plus circa €. 400 of added taxes and the notary's bill
Divisione pays 1% tassa registro, plus circa €. 600 and notary
Of course you can avoid the two contracts asking the vendor to split the house before the purchase, but this need his cooperation and could be difficoult to obtain, because he couldn't like to deal with building permissions, catasto, geometra etc.
[QUOTE=jivah]I am looking to buy a property with some friends and we were wondering how easy it would be to divide it into two apartments. The house we are looking at could easyly acomodate this from a design point of view but does anyone know what the legal implications are?[/QUOTE]
Up to the moment you split the property, you have a joint ownership called in italian "comunione", with its specific rules about administration, use, maintenance, essentially based on the majority rule and, of course you have a jointly responsability for all the possible problems related to ownership.
If you have already an idea about the future splitting, in could be useful (almost necessary) to sign a precautionary agreement where to establish, in advance, the part of the property each party will get as sole proprietor, the works that need to be made jointly and the allocation of the expenditures.
Once the property is ready to be splitted, you need a second contract, before a notary, called "divisione", where the property is finally separated in two parts.
Re. the tax point, the first contract (jointly purchase) pays the "traditional" 10% for tassa registro, plus circa €. 400 of added taxes and the notary's bill
Divisione pays 1% tassa registro, plus circa €. 600 and notary
Of course you can avoid the two contracts asking the vendor to split the house before the purchase, but this need his cooperation and could be difficoult to obtain, because he couldn't like to deal with building permissions, catasto, geometra etc.