Inheriting an asset such as a property is often very well received. However, if you inherit a property abroad it can be a little more problematic. Finding that you have assets in Italy to deal with which will require the payment of the debts attached to the asset and also the taxes, plus having to organise a Grant of Probate, may be quite a task. Unlike the UK, in Italy the beneficiaries of a property step straight into all the responsibilities associated with the deceased's estate immediately they inherit.

It can be quite a task to wade through Italian bureaucracy, the volume of paperwork that needs to be addressed amounts to quite a considerable quantity. If you do not speak Italian you will require the services of an Italian speaking lawyer to guide you and avoid creating inadvertent breaches of procedure, particularly as you liability for the property arise immediately you inherit.

The Grant of Probate can be obtained from the Italian authorities and must be applied for within one year of the death. All your deceased relative's assets must be itemised, wherever they may be located in the world. The relationship regarding the beneficiaries and the estate itself is regulated by quite complex rules and regulations. Tax is usually regulated by bilateral treaties in force to determine the relevant liabilities on the foreign beneficiaries of an Italian inheritance, whether under a will or by the Italian rules of intestacy set out in the civil code. The following documents will have to accompany the Grant of Probate application:

  • the deceased's death certificate,
  • the family certificate relating to the deceased, together with that of the heirs and legatees
  • a copy of the will in Italian, if any exists, due to the prescribed laws of session many Italians do not make a will.

Following the submission of the Italian Grant of Probate, your lawyers will be required to submit, within 30 days, an application for the "voltura catastale", to the Agency of the Territory, this is to permit the variation of the cadastral details in the registration deeds of the property through the "voltura" application process, enabling the financial administration in Italy to be formally informed that the assets (both land and properties) have been transferred from the deceased to his or her heirs or any legatees.

It may be that the property has debts and liabilities that make it too costly to take on. If the liabilities attached to the asset are too great for you to deal with or you simply do not wish to deal with them, you may decide to renounce the entire inheritance. The lawyers at Giambrone would strongly recommend that you seek independent legal advice to ensure that you make a rational and informed decision. A property is often the largest asset an individual owns and very careful thought must be given to renouncing such an asset.

The Lawyers at Giambrone, both in the London office and the Italian offices ca n assist with the most complex matters including contested wills.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.