INHERITANCE - ITALIAN SUCCESSION LAW
The Italian Civil Code establishes that after the demise of relatives holding title to assets in Italy, irrespective of their nationality and living anywhere in the world, the subject of succession law (called "inheritance") and the subsequent rights of heirs. Italian law imposes what may be called "forced heirship", a term implying that specific relatives, including those not holding Italian citizenship, are entitled to a fixed proportion of a decedent's estate.
Our services include assisting private clients in Canada, Australia, USA and UK in communicating with Italian banks and municipalities (Comuni) in obtaining official documents such as birth & death certificates, Italian real estate tax information, property valuations for sale purposes and other certificates required by Italian law.
There are three scenarios that describe variations on the theme of succession:
Under Italian Law the beneficiaries will become entitled to Estate (assets) of the Deceased, but will also become subject to the Deceased's debts and liabilities. In case the debts and liabilities of a Deceased exceed his assets, it is possible to not accept this financial burden. A special procedure applies where the situation is uncertain.
When a person dies and owning property (land or buildings in italy) it is necessary to collect documentation, organise certified translations of the documents, appoint a local notary and to follow right procedures to ensure that the property is transferred at the Land Registry in the name of the beneficiaries entitled.
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