Questions we are typically asked include: “Can you help me transfer the title to family assets in Italy without going to Italy?”, “If I take title (ownership) to my family’s property, do I have to pay back taxes?”, or “If I inherit assets in Italy do I have to pay inheritance taxes?” Continue reading below for the answers to these and many more questions, courtesy of the experts at ItalianLaw.net.
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Topics
General Questions
Inheriting Existing Assets
Italian Taxes
Wills / Trusts –Probate procedures do not exist in Italy. Heirs take title to assets by Succession law Call 866-694-5500
Claiming Assets in Italy
Unclaimed Assets in Italy
Unclaimed Assets – Search Criteria – Real Estate
Buying and Selling Italian Property
Italian Citizenship
General Questions
Who are your clients typically?
Our clients typically fall into the following groups: descendants of Italian families living outside of Italy and non-Italian attorneys looking for direction on estate administration in Italy and bank trust departments. Following our research and due diligence, our clients obtain clarity and guidance on the filing procedures in Italy to transfer assets to those families living outside of Italy.
We also give guidance on obtaining Italian citizenship including translations.
Inheriting Existing Assets
Can you help me transfer the title to family assets in Italy without going to Italy?
You do not have to go to Italy. Our office can file documents in Italy on your behalf to transfer the title of Italian real estate and other assets (Italian bank funds, postal bonds, Italian life insurance policies) to succeeding generations, usually to the surviving spouse, children and grandchildren living anywhere in the world.
Italian Taxes
Real estate Taxes
If I take title (ownership) to my family’s property, do I have to pay back taxes?
An incorrect assumption is that there are always back taxes to pay. On the agricultural property there may be no taxes at all. In any case, according to Italian law, unpaid property taxes can be collected only for the last five years.
Inheritance Taxes
If I inherit assets in Italy do I have to pay inheritance taxes?
If you are a direct descendant or surviving spouse there are no inheritance taxes to pay up to €1,000,000 with the current law. However, there are fees to pay on the real estate transfer of title. If one is not a direct descendant, the inheritance tax varies depending on one’s relationship to the deceased party. Contact us for further information.
Free Consultation: Call or tap (866) 694−5500
Wills and Trusts – Italian Estate Planning
How do I find a will?
This question begs several other questions such as: In which country was it written? Was the will recorded? By Whom?
Is there a repository for wills in Italy?
Yes. There are two sources: Italian Notary offices or the Italian Notary archives for “old wills”
What if there is no will?
This is frequently the case. In the absence of a will Italian law provides for the distribution of assets to the relatives of descendants living anywhere in the world. These individuals are termed “legitimate heirs”. See the Italian Civil Code for details or contact our office at 866 694-5500.
See Inheritance Chart If the children are deceased then the distribution of assets will go to the next generation(s) by the principal of Representation. This aspect is not included in the above-referenced chart.
I am named as an heir to Italian property and other Italian assets that I do not wish to inherit. What do I do?
The procedure is called a Renunciation. On this one, you should call us.
For our Non-Italian Attorney clients, you should contact us for the filing details.
Are trusts written outside of Italy valid and recognized in Italy?
Yes.
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Claiming Assets in Italy
Do I have to be an Italian citizen to claim Italian property or other assets?
No.
Can I claim my ancestors’ property in Italy even if they passed on many decades ago?
Yes. In order to claim property in Italy, you must prove you are an heir. You are an heir either because there is a will naming you or in its absence or you are related to the deceased as “immediate family”. Surviving spouses may also qualify. See the Italian Civil Code for details or contact our office at 866 694-5500.
What assets can I claim?
One can file to transfer real estate anywhere in Italy that is still in the name of a deceased party. (There are many such properties in all regions of Italy that are abandoned.) Unclaimed estate assets may also include bank accounts, stocks and bonds, and other personal property. Beneficiaries of life insurance policies would receive distributions.
Do Italian estate matters go through probate?
In the Italian system, the settling of estates does not involve the court system and thus no probate procedures exist. The application of Italian succession law and the transfer of assets is purely an administrative process involving the Italian Government Agency called L’agenzia delle entrate.
In cases in which the estate distribution is contested an Italian judge would hear the parties and conclude if there is a basis overturning the administrative process.
Contact us for further information.
Free Consultation: Call or tap (866) 694−5500
Unclaimed Assets in Italy
How do I find unclaimed assets in Italy?
Unclaimed Real Estate: Ask our office to run a title report listing all properties in the name of your ancestor.
Bank Accounts / Stocks & Bonds: Our office can assist in uncovering unclaimed funds in banks and other assets in other financial instruments.
Unclaimed Assets – Search Criteria – Real Estate
What information do I need to locate family property in Italy?
The criterion that produces the most complete and fastest results is a title search by name in the following format:
- Italian name (if female, maiden) even if deceased many decades ago
- Birth date or year (No birth years before 1870)
- Italian town of birth or other nation
- Father of this person (useful if the exact town of birth is not known)
Can one search by Italian address?
Yes, but addresses may change over time. This approach may be more time-consuming.
Can one search by map and parcel number in a specific town?
Yes, but the results will bring forth data on one specific building or one specific parcel of land and Not the entire estate.
Can you provide official maps indicating property boundaries?
Yes
Can one track the history of specific property, called the chain of title?
Yes, but first one needs a Map # and Parcel #. Perform a title search by name first to obtain the needed data.
Can one uncover who the buyers and sellers were, sales price, and more?
Yes, but this service is offered in our full-service mode only. Contact Us adding some detail. 866 694-5500
What is some practical advice?
Even though it is common to find property records of those still on title born in the 1880s, earlier birth dates may have not yet been digitized. Obtaining property records in prior periods may require a manual search in the town records. It may be wiser to start with names in the 1900s and then work backward.
There are 1000s of unclaimed properties abandoned by immigrants to other countries. According to Italian succession, law descendants may still file to make a claim. See a partial shortlist here. We add family names to the list regularly.
Free Consultation: Call or tap (866) 694−5500
Buying and Selling Italian Assets
Can you assist me with buying and selling real property and other assets in Italy?
Yes. Our office can assist in the negotiations between buyer and seller and set forth the terms of the agreement in Italian and English.
Italian Citizenship
Can you assist me in applying for Italian citizenship?
Yes, we can provide guidance applying for Italian citizenship.
Can you assist me in retrieving from Italy essential vital record certificates?
Yes.
Will you translate vital records documents in English into Italian for the presentation to Italian authorities?
Yes.
Free Consultation: Call or tap (866) 694−5500
选择居留签证仅适用于在原籍国拥有丰富资产和储蓄的个 人。 此种签证适用于那些想在意大利生活而没有任何雇傭合 约的外国人。因此，持这种签证在意大利是不能工作的。