Property transfer process/costs - Italian Online community

meow-ta · #1 07-16-2009, 03:06 PM

Hi Everyone, here's a first post:

A relative has a property in Friuli owned 1/3 by themself and 1/3 each by a brother and sister.

The brother and sister have renounced any claim to the property, but the property has not been formally transferred to the relative.

Question is what are the costs associated with a property transfer? Are notarial/legal costs based on property value, and if so, in general how are they calculated? What other costs go along with a transfer of the property? In Canada there is mutation tax based on the value of the property. Does this exists in Italy? Does the relative have to pay capital gains tax on the fair market value of the portion being transferred?

Are there any other costs that are involved?

Thanks.
Tim.

CJ · #2 07-20-2009, 09:52 PM

Quote:

Originally Posted by meow-ta

Hi Everyone, here's a first post:

A relative has a property in Friuli owned 1/3 by themself and 1/3 each by a brother and sister.

The brother and sister have renounced any claim to the property, but the property has not been formally transferred to the relative.

Question is what are the costs associated with a property transfer? Are notarial/legal costs based on property value, and if so, in general how are they calculated? What other costs go along with a transfer of the property? In Canada there is mutation tax based on the value of the property. Does this exists in Italy? Does the relative have to pay capital gains tax on the fair market value of the portion being transferred?

Are there any other costs that are involved?

Thanks.
Tim.

Hi Tim...

Can you tell me which of the following applies:

Was the property inherited?
was it received as a donation?
or was it purchased by your relatives?

meow-ta · #3 07-27-2009, 03:24 PM

The property was inherited by the three siblings in equal parts from their parents over twenty years ago.

Thanks.

christiano · #4 09-27-2009, 11:34 AM

Quote:

Originally Posted by meow-ta

Hi Everyone, here's a first post:

A relative has a property in Friuli owned 1/3 by themself and 1/3 each by a brother and sister.

The brother and sister have renounced any claim to the property, but the property has not been formally transferred to the relative.

Question is what are the costs associated with a property transfer? Are notarial/legal costs based on property value, and if so, in general how are they calculated? What other costs go along with a transfer of the property? In Canada there is mutation tax based on the value of the property. Does this exists in Italy? Does the relative have to pay capital gains tax on the fair market value of the portion being transferred?

Are there any other costs that are involved?

Thanks.
Tim.

Hi my name is Christiano
Did anyone answer you question about the taxes? I am trying to learn all I can before I buy a house in Italy.
Thanks