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FATTO

Further comment has appeared on the England and Wales Family Court's decision to pierce the corporate veil in the financial remedy case of Akhmedova v Akhmedov (2018 EWFC 23 Fam). The judge considered it necessary to go against the long-standing legal principle, in response to Farkhad Akhmedov's 'continuing campaign to defeat his ex-wife by concealing his assets in a web of offshore companies', and issued orders to aid her enforcement of the judgment in the Isle of Man and Dubai FATTO

INTERNATIONAL - UK - Nearly 100,000 properties in England and Wales owned by foreign entities

INTERNATIONAL - FRANCE: Legal entities must comply with reporting obligations by April

INTERNATIONAL - UK: Legislation this summer on register of foreign property-owners

INTERNATIONAL - FRANCE: Wealth property tax has significant effects for non-residents

The Japanese government's 2018 tax reform bill abolishes the recently introduced rule under which the heirs of a long-term resident foreigner who died outside Japan remain liable to Japanese inheritance tax (IHT) on estate assets anywhere in the world. The rule had threatened to derail the government's efforts to attract foreign talent to live and work in Japan, because it meant IHT liability could follow a foreign national for up to five years after leaving the country.

TRUST - LUXEMBOURG: Movement on beneficial ownership registers

INTERNATIONAL - UK: Alarm over extension of property taxes to non-residents

INTERNATIONAL - UK, TRUSTS: online trusts register is delayed

INTERNATIONAL - GERMANY: Restriction of loss relief declared unconstitutional

VAT - Transfer of ownership of land in settlement of tax arrears

INTERNATIONAL - UK TRUSTS: Law implementing registers of trusts in force on 26 June 2017

INTERNATIONAL - UK: Information Commissioner warns of privacy threat from public registers of trusts

INTERNATIONAL - Cayman Islands: Beneficial ownership regime ready for launch

It often happens that, after a prospective property has been inspected and chosen, substantial agreement is reached with the other party even if this is not yet formalized in written form. It is advisable to contact a notary at this early stage before signing the preliminary contract (the so-called “compromesso”). In the preliminary contract, both signatories undertake to stipulate the definitive sale contract by a certain date and on given conditions. The preliminary agreement (even i

Notaries and real estates

Notaries and real estates

Notaries provide the community with a complex service, they carry out a public function of the State within the framework of an independent profession. The notarial deed not only regulates transactions between parties, but it provides added value in at least three respects: - a contract signed before a notary is unchallengable and hence it avoids expensive and time-consuming litigation procedures; - it is enforceable and hence it can be used to recover credits and it constitutes pri

The vendor has the right to receive the full amount of the agreed price from the purchaser at the time the sale contract is settled. Frequently the vendor has already received an advance payment on that price, generally as a deposit: in that case he will have the right to receive the difference to make up the full agreed price. The vendor has the option to allow the purchaser a deferral of payment, with or without interest. It is up to the discretion of the vendor (based on the trust h

It is generally agreed that the notion of a "sale" includes not only transactions for the transfer of property rights but also those for the transfer or creation of partial real rights or enjoyment (e.g. bare ownership or usufruct).

Joint ownership of assets is the property regime Italian law “automatically” assigns to partners in marriage, but allows the spouses to choose otherwise (such as the separation of assets or joint ownership by agreement).In summary, legal joint ownership means that, in principle, all assets acquired by the spouses during their marriage, even if formally in the name of one only of them, in reality belong to both. That means that in order to sell them, donate them, mortgage them or otherwise dispos

Home loans are generally guaranteed by a mortgage and so are the preserve, in our legal system, of the notary. The presence of the notarial profession has become more significant with the recent increase in the number of such contracts, a result of the lower cost of money (though this is still subject to fluctuations) and improvements in living standards that allow an ever greater number of citizens to aspire to the ownership of their home and often of a second home as well. Year after ye

In general the purchase/sale is the contract having the purpose of transferring the ownership of a house or the transfer of some other right for the equivalent of a price;  more generically it could be said that the purchase/sale of real estate is the formal agreement by means of which one party, called the seller, transfers to another, called purchaser, the ownership of a given property against payment of the price agreed on. Our juridical system, in view of the extreme importance of rea

In a property conveyance, right from what we have called the preparatory phase before the definitive contract, the notary plays a rather delicate and important role: determining whether in fact the vendor is free to sell the asset and whether the purchaser in his turn may legitimately acquire it. For example - to cite just a few of the more important aspects - the notary's tasks include certifying the personal identity of the parties (in other words that the vendor and hence the owner of

A conveyance differs substantially from an exchange, a donation or a division. In an exchange, there is the reciprocal transfer of certain properties from one owner to another: basically, this means one property is exchanged for another but the exchange may also be accompanied by the passing of a sum of money as a balance if there is a difference in value between the properties exchanged. In a donation, there is always, as in the conveyance, the transfer of real estate, but there is no

In general terms, the conveyance is the contract that transfers ownership of an asset or some other right in exchange for a consideration; more generically, one may say that a real estate conveyance is the formal agreement whereby one party, known as the vendor, transfers to another party, known as the purchaser, the ownership of a particular property in exchange for payment of the agreed price. Given the extreme importance of real property ownership, our legal system not only requires th

This is the property regime whereby two spouses continue to accumulate assets after marriage exactly as though they were not married. An asset acquired by one spouse remains his or hers alone, and the other spouse has no rights over it.Naturally, the spouses may jointly acquire an asset but each may then resell (or donate) his or her half without the consent of the other (as opposed to what happens under the joint ownership regime).

As has been seen above, in order to determine the type of tax and the amount and means of payment of the sums due for duties on the purchase of a so-called primary residence, one must first of all take into account the nature of the vendor. When the vendor is the company that built (or renovated) the property and four years have not elapsed since completion, the conveyance is subject to VAT that the purchaser must pay directly to the company and not to the notary, along with the payment o

If a married person wishes to sell a property, it is necessary to check whether or not the consent of the other spouse is needed; If a minor or a person not of sound mind is the owner of an asset, a judge's authorization is needed for the sale as well as the intervention of that person's tutor or parent or legal representative; the same thing applies for a purchase by such persons; If an inherited asset is the common property of several heirs, before selling his share an heir must firs

A property regime is the set of rules that govern property and the manner of administering assets belonging to a married couple so long as the marriage lasts and when the marriage ends for any reason (death, divorce).In other words, the property regime stipulates the rights that each spouse has over assets acquired (by one or other of the spouses or by both) during the marriage, both for the duration of the marriage and in the case where the marriage ends.In Italy the “normal” regime established

In the first place, the vendor is obliged to consign to the purchaser the property sold in the state in which it is with vacant possession, free of persons and things, at the time the contract of sale is notarised, i.e. at the same time as the balance of the price is paid. The vendor has the option, however, of allowing the future purchaser to occupy the property even before the actual change of ownership, it being understood that because he is still the owner of the asset he remains resp

It is extremely simple to set up an informal partnership:- the contract needs not be of any special type, except where special types of assets are involved (and except for evidentiary limitations);- all that is needed to set up an informal partnership is the mutual engagement by the partners to jointly carry out a non-commercial profit-making activity;- informal partnerships must be entered into the register of companies. Such registration takes place in a special section and does not imply