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The italian Notary

The Notary as existing in Italy belongs to the “latin (o roman)  notarial system”. The “latin notary” system is largely spread around the world, adopted by approximately 71 countries, mostly belonging to the civil law system. Although the same word “public notary” is used within the “common law” legal systems, it must be underlined very clearly from the beginning that the concept (the meaning) behind the word in the civil law system and in the common law system is completely, absolutel

The notarial profession has always been, and continues to be, one that is more than ready to adopt new technology. It is sufficient to recall that from the 1960s on, any and all notaries' offices moved rapidly from traditional typewriters and duplicators to the most sophisticated photocopiers and PCs with large-capacity memories. The reason for notaries' particular attention to technological developments of this kind is evident. For over 2000 years the notary's job has been to create and con

When does one need a notary? The areas covered by Italian notaries are mainly:a) the purchase of a house or other real property;b) the formalization of a mortgage contract with a Bank;c) the preparation of powers of attorney so as to be represented by a third party;d) changes to property arrangements between spouses;e) applications to a court for authorizations regarding minor children;f) donation of assets;g) setting up of and changes to companies, and all relevant legal documents;h) acceptance

Only legal security in business and private relationships allow for economic development; therefore a constitutional state must guarantee  legal security to its citizens. To this goal: 1) lawsuits  must be prevented, for as much as possible; 2) the citizens must have access  to public registers whose records are reliable and legally trustworthy. Clearly the reliability of the findings depends entirely upon the trustworthiness of the deeds entered. An authentic deed, drawn by a

When a borrower's default becomes absolute (in the sense that there is not only a delay in payment but a true "missed payment" of significant economic importance to the contract), the bank decides to cancel the contract and immediately demand repayment of the amounts due; hence the borrower cannot take advantage of the deferred payments contained in the redemption plan.At this point, the cancellation amount is calculated (capital plus accrued interest, late-payment interest and any other exp

Take the case in which the company has lost capital. What is the company allowed to do?In this connection the law envisages that, in case of losses, the company cannot distribute profits among the partners until the capital has been reduced or replenished by the corresponding amount.However, unlike what happens for companies with share capital, there is no obligation to reduce the capital whatever the amount of the losses incurred, even if the latter are such as to wipe out the  entire capit