In reply to A newbie all over again! by Annec
In reply to A newbie all over again! by Annec
Thanks Notaio!
So if I ever sell my house, the Atto di Compravendita would be sufficient- I don't need a separate document called a Titolo di Proprieta? Pardon my question but I am trying to eliminate disinformation I've found on the web.
Thnaks again,
Bill
In reply to A newbie all over again! by Annec
There's one other slight complication; the entry in the Catasto Ipotecaria, or register of mortgages. We too bought our house with a mortgage, but paid it off after about 4 years. When we enquired about removing the reference to the building society's mortgage from the official documents, we found that it would cost around €1,200. We decided to wait until the mortgage would have elapsed, 11 years hence, rather than pay the money, but were we to sell the house in the meantime, we may have to jump through more hoops to prove that the mortgage no longer exists.
In reply to A newbie all over again! by Annec
[QUOTE=pastasugo]Thanks Notaio!
So if I ever sell my house, the Atto di Compravendita would be sufficient- I don't need a separate document called a Titolo di Proprieta? Pardon my question but I am trying to eliminate disinformation I've found on the web.
Thnaks again,
Bill[/QUOTE]
Theorically you can even go to the notary without any kind of legal document.
The notary is able to verify your ownership checking the land register and calling the notary who drafted your "atto" for a copy of it.
Naturally the more documents you bring to the notary the faster he's able to draft the new contract, but the mentioned situation happens in about 5\10% of the purchases I draft.
About mortgages, they "dye of natural death" after 20 years.
If you need to "cancel" the mortgage, i.e. because you have to sell the house or you need a new loan from a different bank, the bank has to sign a document called "assenso alla cancellazione di ipoteca", with a cost of about €. 500\600 according to the value of the mortgage.
In reply to A newbie all over again! by Annec
Thank you for your interesting remarks. I thought when I paid the 10 year mortgage early at 5 years I was done. But now I must wait another 10 years even though the bank has been fully paid. How strange! What is the rationale behind this procedure?
In reply to A newbie all over again! by Annec
Pardon my reviving this old thread, but I've heard the law may have changed. If I understand correctly, Legge 2 aprile 2007, n. 40, "Conversione in legge, con modificazioni, del decreto-legge 31 gennaio 2007, n. 7" allows cancellation of an ipoteca within 30 days of payment in full. Does this negate the previous "wait for 20 years" rule? Is it now possible to have the visura ipoteca annotated immediately after estinsione?
See [url=http://www.lavoripubblici.it/2007/dettaglio_notizia.php?agap=czo4OiJNVFV6TWc9PSI7]Liberalizzazioni CANCELLAZIONE AUTOMATICA IPOTECA Lavori Pubblici[/url]
In reply to A newbie all over again! by Annec
Hi Noma, I don't think notaio visits the forum any more (unfortunately for us).
Just to clarify though, it was also possible to cancel the mortgage immediately before without waiting 20 years, it was just that you needed a notary to do it with all the associated costs. From the link you provided and from what I have heard previously, now all the bank has to do is inform the conservatoria (the office where they hold all these records) within 30 days and they (at the conservatoria) will then cancel the lien on the property.
In reply to A newbie all over again! by Annec
Excellent! That's a good €600 savings.
[QUOTE=pastasugo]Hello Notaio,
I've bought a house 10 years ago and paid off my mortgage in 5 years. I have the Atto di Compravendita and Atto di Mutuo but I still have no Titolo di Proprieta. My neighbors don't know where I would get that- some say Catasta, some the Notaio. Another fellow told me the Conservatoria dei Registri Immobiliari.
Should I have the original or a copy of the Titolo?[/QUOTE]
Titolo di proprietà and atto di compravendita (I suppose you're talking of the notary's contract) are essentially the same thing.
You purchased the full property of your house with "atto di compravendita", i.e. a contract.
That contract is witten in a document, that we might call "titolo".
After the contract the notaio sent a copy of it to the "Conservatoria" - wich is the italian "Land Register" - in order to give legal publicity of your purchase in front of third parties.
The original document (atto pubblico di compravendita) will remain hedged in the notary's office.
Because it is a "public contract" everyone can have a copy of it.