3-4/2005 UINL - Notarius International

3-4/2005 UINL - Notarius International 3-4/2005 UINL - Notarius International

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148 D. Ockl, Protection of the Purchaser of Immovables to be built in Italy Notarius International 3-4/2005 acquirente o di suoi parenti e affini entro il terzo grado” (art. 67, comma terzo, lett. c), l. fall.) 5 La novellazione dell’art. 67 l. fall. appare sminuire la portata dell’esenzione da revocatoria disciplinata all’art. 10. L’art. 10 del decreto legislativo potrebbe comunque fornire maggiore tutela rispetto alla formulazione dell’art. 67, comma terzo, lett. c) l. fall. considerato che tale norma opera un riferimento ad un più ampio novero di figure contrattuali, ed ai diritti reali di godimento, contrariamente alla disposizione contenuta nella legge fallimentare, in cui si menziona unicamente la vendita. 11. Fondo di solidarietà per gli acquirenti di beni immobili da costruire (artt. 12-18) Il legislatore si è preoccupato di prevedere una forma di tutela per così dire retroattiva per i casi di acquirenti rimasti coinvolti in procedure implicanti una situazione di crisi non ancora concluse in epoca antecedente al 31 dicembre 1993 né aperte in data successiva a quella di emanazione del decreto. Per assicurare un indennizzo a tali acquirenti di beni immobili da costruire che abbiano subito la perdita di somme di denaro o di altri beni senza aver conseguito il diritto di proprietà o altro diritto reale di godimento sugli immobili oggetto dell’accordo negoziale con il costruttore ovvero l’assegnazione in proprietà o l’acquisto della titolarità di un diritto reale di godimento su immobili da costruire per iniziativa di una cooperativa, viene istituito presso il Ministero dell’economia e delle finanze il Fondo di solidarietà per gli acquirenti di beni immobili (artt. 12 – 18 decreto). 12.Bibliografia C. M. D’ARRIGO, La tutela contrattuale degli acquirenti di immobilia da costruire, Rivista del Notariado 4/2006, 911. G. PALERMO, Lo schema legale dei contratti relativi ad immobilia da costruire, Rivista del Notariado 4/2006, 965. A. PAOLINI/A. RUOTOLO, Prime considerazioni sul decreto legislativo in tema di tutela degli acquirenti di immobili da costruire o in corso di costruzione, segnalazione novità del Centro Studi del Consiglio Nazionale del Notariato – studio 5691/c, Notiziario CNN del 13 giugno 2005. G. PETRELLI, Gli acquisti di immobili da costruire, Milano 2005. A. RINALDI, Immobili in costruzione, fallimenti e tutela degli acquirenti, Maggioli, Rimini 2005. G. RIZZI, Il decreto legislativo 122/2005: il contenuto del preliminare, studio Commissione studi civilistici del Consiglio nazionale del notariato 5814/c (reperibile su www.notariato.it). G. RIZZI, Decreto legislativo 122/2005: la garanzia fideiussoria ed i presupposti di applicazione della nuova normativa, studio Commissione studi civilistici del Consiglio nazionale del notariato 5813/c (reperibile su www.notraiato.it). G. RIZZI, Decreto legislativo 122/2005: assicurazione indennitaria, frazionamento del mutuo, revocatoria fallimentare e le altre novità legislative, studio Commissione studi civilistici del Consiglio nazionale del notariato 5812/c (reperibile su www.notariato.it). G. RIZZI, La nuova disciplina di tutela dell’acquirente di immobili da costruire, Notariato 4/2005 pag. 427 ss. AA. VV. Tutela dell’acquirente degli immobili da costruire applicazione del D.Lgs. 122/2005 e prospettive, Quaderni della Fondazione Italiana per il Notariato Milano 2006 5 Decreto Legislativo 8 luglio 1999 n. 270. Protection of the Purchaser of Immovables to be built: The new Italian legislation* Contents page 1. Outline of procedure for sale and purchase of property 148 2. The pre-existing situation 149 3. Registration of the preliminary contract 150 4. The new legislation – scope 150 5. The guarantee 151 6. Contents of the contract 151 7. The insurance obligation 152 8. Obligation to cancel or fractionalise mortgages taken out 153 9. The right of pre-emption in the event of compulsory execution over the property 153 10.Reforms in the matter of bankruptcy 153 11.Solidarity fund for purchasers of immovables to be built 153 1. Outline of procedure for sale and purchase of property Legislative decree No 122 of 20 June 2005 1 for the first time introduces in Italy legislation to protect purchasers of immovables to be built. In order to enable the non-Italian lawyer to understand the new legislation, a few brief preliminary observations are in order on the manner of acquiring real estate in Italy and the procedure in that connection. 1.1 Principle of the transfer of ownership by mere agreement It should be remembered, first of all, that in Italy the principle of the transfer of ownership by mere agreement is applicable: ownership of property is acquired under a contract with the agreement of the parties validly expressed, whereas completion of the public registration formalities merely enables the transfer of owner- * by DAVID OCKL, Notary in Lana, Bolzano, Italy. 1 The text of the decree may be found at www.normeinrete.it. On the legal situation prior thereto, see: E. CALÒ, National Report Italy, Notarius International 3-4/2001, p. 165.

Notarius International 3-4/2005 D. Ockl, Protection of the Purchaser of Immovables to be built in Italy 149 ship, which has already occurred, to be asserted as against third parties. That explains why in the sale and purchase of property the procedure is divided into two contractual stages: a preliminary contract – under which one party undertakes to sell and the other party undertakes to buy – and a definitive contract, which is the genuine and actual deed of sale on the execution of which title to the property passes as a result of the express agreement. In that context the preliminary contract therefore performs the function of ensuring observance of subsequent matters agreed, such as compliance with the requirements needed for the definitive contract (e.g. redemption of mortgages or other charges, completion of specifed works etc.): if those requirements are not complied with, either party may refuse to enter into the definitive contract, thus precluding it from becoming effective without any need for rescission. The preliminary contract may also provide for partial early performance of obligations (e.g. payment of amounts on account of the purchase price). 1.2 Sale of immovables to be built The preliminary contract – definitive contract model is particularly frequently encountered for sales of immovables yet to be built: in these cases there is first a preliminary contract drawn up at time when the building has not yet come into existence, and a definitive contract drawn up as soon as the building has been completed. Frequently, in those situations there is a requirement on the future purchaser under the preliminary contract, or in the interval between preliminary and definitive contracts, to make payments on account. Such payments are often made without any protection in favour of the purchaser who is exposed to the risk of losing payments made if a crisis supervenes, such as the bankruptcy of the vendor builder. In fact the purchaser is required to perform part of his obligations at an early stage without however obtaining title to the property, owing to the fact that, under the abovementioned principle of the agreement to transfer, title is transferred on execution of the definitive contract. Another contractual instrument used in the sale of immovables yet to be built is the sale and purchase of a future item (compravendita di cosa futura): the parties draw up a sale and purchase agreement in respect of an item of real estate which does not yet exist because it is under construction: in that case title will pass upon the coming into existence of the item of real estate (Art. 1472 Civil Code). In that situation as well the purchaser who has paid the price on the drawing up of the contract is exposed to the risk of having to seek repayment of those sums if the item of real estate fails to come into existence, which plainly will be difficult to achieve where the builder has entered a situation of crisis. 2. The pre-existing situation The protection of the purchaser of immovabeles under construction prior to legislative decree No 122 of 20 June 2005 was, with the exception of the possibility of registering the preliminary contract with the land registry, mentioned at 3 below, was all but non-existent. The contract was essentially left to the free disposition of the parties which had to make their own provision for the protection of their interests in the course of the contractual arrangements by inserting into the contract itself appropriate clauses. 2.1 Need for protection of the purchaser However, that form of self-protection was absolutely inoperative, in view of the fact that: - for the preliminary contract it was (and is) sufficient for there to be a written document without the assistance of any professional, given that a notary in the exercise of his own impartial role can (or must) advise the parties; - in a real estate transaction where the building is under construction there is an experienced party on one side (the vendor builder), for whom the transaction is routine from a financial point of view, and on the other side is a party (purchaser) with little or no experience, for whom the transaction is unique and of more significant financial concern; - the purchaser is generally the contractually weaker party, with scant opportunity to have clauses for his own protection inserted into the contract; - the property market is characterised by an information deficit, which means that less well-off purchasers, in particular, do not clearly perceive the risks to which they are exposed in signing preliminary contracts to purchase. 2.2 Bankruptcy of the vendor builder The consequences in the event of the bankruptcy of the vendor builder were therefore very serious. In the event of bankruptcy prior to the drawing up of the definitive contract the purchaser who has made payments on account may apply for his claim to be entered amongst the liabilities of the bankruptcy as an unsecured creditor (that is to say unsupported by guarantees or priority), with no right to the transfer of the property. There were also serious consequences if the vendor became bankrupt after the drawing up of the definitive contract: It happened with some frequency that after the definitive contract had been entered into the purchaser would find his property burdened with a mortgage originally taken out to secure financing obtained by the vendor builder in an amount greater than that of the purchase price or indeed to secure financing the burden of which the purchaser had in no way agreed to. That occurred because the vendor undertook under the definitive contract to fractionalise or cancel the mortgage but then failed to perform this obligation. If the vendor went bankrupt the purchaser therefore found himself exposed to enforcement procedures on the part of the credit institutions which had granted the mortgage.

148 D. Ockl, Protection of the Purchaser of Immovables to be built in Italy <strong>Notarius</strong> <strong>International</strong> 3-4/<strong>2005</strong><br />

acquirente o di suoi parenti e affini entro il terzo grado”<br />

(art. 67, comma terzo, lett. c), l. fall.) 5<br />

La novellazione dell’art. 67 l. fall. appare sminuire la portata<br />

dell’esenzione da revocatoria disciplinata all’art. 10.<br />

L’art. 10 del decreto legislativo potrebbe comunque<br />

fornire maggiore tutela rispetto alla formulazione dell’art.<br />

67, comma terzo, lett. c) l. fall. considerato che tale<br />

norma opera un riferimento ad un più ampio novero di<br />

figure contrattuali, ed ai diritti reali di godimento,<br />

contrariamente alla disposizione contenuta nella legge<br />

fallimentare, in cui si menziona unicamente la vendita.<br />

11. Fondo di solidarietà per gli acquirenti di beni immobili<br />

da costruire (artt. 12-18)<br />

Il legislatore si è preoccupato di prevedere una forma di<br />

tutela per così dire retroattiva per i casi di acquirenti rimasti<br />

coinvolti in procedure implicanti una situazione di<br />

crisi non ancora concluse in epoca antecedente al 31 dicembre<br />

1993 né aperte in data successiva a quella di emanazione<br />

del decreto.<br />

Per assicurare un indennizzo a tali acquirenti di beni<br />

immobili da costruire che abbiano subito la perdita di<br />

somme di denaro o di altri beni senza aver conseguito il<br />

diritto di proprietà o altro diritto reale di godimento sugli<br />

immobili oggetto dell’accordo negoziale con il costruttore<br />

ovvero l’assegnazione in proprietà o l’acquisto della titolarità<br />

di un diritto reale di godimento su immobili da<br />

costruire per iniziativa di una cooperativa, viene istituito<br />

presso il Ministero dell’economia e delle finanze il<br />

Fondo di solidarietà per gli acquirenti di beni immobili<br />

(artt. 12 – 18 decreto).<br />

12.Bibliografia<br />

C. M. D’ARRIGO, La tutela contrattuale degli acquirenti<br />

di immobilia da costruire, Rivista del Notariado 4/2006,<br />

911.<br />

G. PALERMO, Lo schema legale dei contratti relativi ad<br />

immobilia da costruire, Rivista del Notariado 4/2006, 965.<br />

A. PAOLINI/A. RUOTOLO, Prime considerazioni sul decreto<br />

legislativo in tema di tutela degli acquirenti di immobili<br />

da costruire o in corso di costruzione, segnalazione novità<br />

del Centro Studi del Consiglio Nazionale del Notariato –<br />

studio 5691/c, Notiziario CNN del 13 giugno <strong>2005</strong>.<br />

G. PETRELLI, Gli acquisti di immobili da costruire,<br />

Milano <strong>2005</strong>.<br />

A. RINALDI, Immobili in costruzione, fallimenti e tutela<br />

degli acquirenti, Maggioli, Rimini <strong>2005</strong>.<br />

G. RIZZI, Il decreto legislativo 122/<strong>2005</strong>: il contenuto<br />

del preliminare, studio Commissione studi civilistici del<br />

Consiglio nazionale del notariato 5814/c (reperibile su<br />

www.notariato.it).<br />

G. RIZZI, Decreto legislativo 122/<strong>2005</strong>: la garanzia fideiussoria<br />

ed i presupposti di applicazione della nuova<br />

normativa, studio Commissione studi civilistici del<br />

Consiglio nazionale del notariato 5813/c (reperibile su<br />

www.notraiato.it).<br />

G. RIZZI, Decreto legislativo 122/<strong>2005</strong>: assicurazione<br />

indennitaria, frazionamento del mutuo, revocatoria fallimentare<br />

e le altre novità legislative, studio Commissione<br />

studi civilistici del Consiglio nazionale del notariato<br />

5812/c (reperibile su www.notariato.it).<br />

G. RIZZI, La nuova disciplina di tutela dell’acquirente<br />

di immobili da costruire, Notariato 4/<strong>2005</strong> pag. 427 ss.<br />

AA. VV. Tutela dell’acquirente degli immobili da costruire<br />

applicazione del D.Lgs. 122/<strong>2005</strong> e prospettive,<br />

Quaderni della Fondazione Italiana per il Notariato<br />

Milano 2006<br />

5 Decreto Legislativo 8 luglio 1999 n. 270.<br />

Protection of the Purchaser of<br />

Immovables to be built: The new Italian<br />

legislation*<br />

Contents<br />

page<br />

1. Outline of procedure for sale and purchase of<br />

property 148<br />

2. The pre-existing situation 149<br />

3. Registration of the preliminary contract 150<br />

4. The new legislation – scope 150<br />

5. The guarantee 151<br />

6. Contents of the contract 151<br />

7. The insurance obligation 152<br />

8. Obligation to cancel or fractionalise mortgages<br />

taken out 153<br />

9. The right of pre-emption in the event of<br />

compulsory execution over the property 153<br />

10.Reforms in the matter of bankruptcy 153<br />

11.Solidarity fund for purchasers of immovables<br />

to be built 153<br />

1. Outline of procedure for sale and purchase of<br />

property<br />

Legislative decree No 122 of 20 June <strong>2005</strong> 1 for the<br />

first time introduces in Italy legislation to protect purchasers<br />

of immovables to be built. In order to enable the<br />

non-Italian lawyer to understand the new legislation, a<br />

few brief preliminary observations are in order on the<br />

manner of acquiring real estate in Italy and the procedure<br />

in that connection.<br />

1.1 Principle of the transfer of ownership by mere<br />

agreement<br />

It should be remembered, first of all, that in Italy the<br />

principle of the transfer of ownership by mere agreement<br />

is applicable: ownership of property is acquired under<br />

a contract with the agreement of the parties validly<br />

expressed, whereas completion of the public registration<br />

formalities merely enables the transfer of owner-<br />

* by DAVID OCKL, Notary in Lana, Bolzano, Italy.<br />

1 The text of the decree may be found at www.normeinrete.it.<br />

On the legal situation prior thereto, see: E. CALÒ, National Report<br />

Italy, <strong>Notarius</strong> <strong>International</strong> 3-4/2001, p. 165.

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