ILF LAW FIRM

REAL ESTATE LAW

Advising both Italian and foreign clients in relation to all aspects of real estate transactions, in relation to both residential and commercial property, including tax structuring (purchase of real estate via an Italian company or through a company set up in a different legal jurisdiction); advising on all aspects of the acquisition process under Italian law including (where required) negotiation of agents’ fees and negotiation of the purchase price andformulation of the written offer to purchase (binding under Italian law); advising in relation to pre-emption rights issues, drafting and negotiation of preliminary contracts and completion before a notary and advising on all aspects of mortgage finance in relation to real estate acquisition transactions.

BUYING & SELLING PROPERTIES IN ITALY

This memorandum is intended to provide information regarding the acquisition of real property in Italy, with a specific focus on business property. It is important to note that the Italian legal system, in consideration of its particular historical background, attributes to a notary (Notaio) a predominant role in drafting the purchase agreement of land or buildings. Contrarily to what generally happens in common law countries, where the role played by the lawyer in real estate transactions is exhaustive, Italian lawyers are involved in such commercial transactions mainly in the preparatory phase which consists in the conducting of due diligence and negotiations between the parties. In any event the following information will be applicable in both legal systems.

COMPANY COMMERCIAL LAW

All commercial contractual matters, in particular the drafting and negotiation of contractual documentation in the technology / software fields such as technical know-how and licence agreements; share / asset sale / purchase agreements and agreements for services, licensing, distribution, purchase and agency agreements for the fashion industry; joint ventures and cost sharing arrangements and ‘preliminary’ agreements such as confidentiality agreements and letters of intent.