glossary – part 1

We decided to make available to our affiliates and brokers, but more for all our customers, to evaluate much more than our transparency and professionalism in the real estate business, a glossary with the meaning of all the terminology that are generally used by real estate agents, brokers and more.

Because the terminology used is very wide, we felt it appropriate divedere our betting glossary, so allow time for readers to gain more meaning and not use it as a simple vocabulary.

 GLOSSARY

PRATICABLITY

fundamental requirement of any property that must be guaranteed to the buyer when it comes into possession of the property (art.1477 CC). The certificate of fitness for use (space is for residential buildings -) is issued by the City and certifies that the conditions of safety, hygiene, health, energy conservation in buildings and installations in the same installed. (Law 425/94).

COUNTRY right to

law, non-transferable, living in a shelter, to satisfy their housing needs and the family (Art. 1022 CC).
Article. 540 Civil Code, as amended by s. May 19, 1975 n. 151 provides, inter alia, that the surviving spouse is reserved “rights of residence on the house used as a family home and use on furniture that will accompany it, if the deceased owned or joint.”
The best doctrine considers this award a legacy under Law (1), then the spouse acquires such rights, even if it renounces the inheritance.

COUNTRY HOME

 is one in which the taxpayer usually lives. Benefit from various advantages including the exclusion IRPEF, the deduction of mortgage interest deduction and the purchase contract for IMU.

STACKING

Registration of real estate in the land register with the consequent attribution of income.
For the purposes dell’accatastamento owners must report to the Office of Land new construction by 31 January of the year following that in which they become usable for their intended use. With a special computer procedure the taxpayer, with the help of a qualified professional, offers the cadastral income. The office, if the rent adjustment already assigned or proposed by the taxpayer, has the obligation to notify the person against whom the new annuity may be submitted within 60 days, appeal to the competent Tax Commission.

 ACCESSION

principle under which any existing building or culture above or below the ground belongs to the owner of this unless it is otherwise a license or by law (Art. 934 CC).

ACCESSION REVERSED

if the construction of a building dedicated in good faith a contiguous portion of the fund, and the owner of this opposition is not within three months from the day construction began, the court, under the circumstances, may provide manufacturer ownership of the building and land occupied. The manufacturer is obligated to pay the owner twice the value of the ground floor space, over compensation for damages (Art. 938 CC)

ENFRANCHISMENT

extinction emphyteusis on payment to the owner of the fund a sum equal to 15 times the rental charges income increased by 80% Sunday (Art. 973 CC Law 1138/70

DEPRECIATION

breakdown of the cost of buying a property in the estimated duration of use.
In loan contracts is the process of restitution by paying regular installments including a share capital and share interests, is established by the parties at the inception of the contract and may be:
A rising rate, the rate increases in a constant percentage to each period or periods prescribed.
A decreasing rate is determined when the repayment of a portion of constant capital to which the interest component will decrease over time as a result of repayments.
French is the rate constant (during the application of the same rate, or the duration for fixed rate loans) increases the equity component and interest component decreases.

 GOODWILL allowances

is the sum provided for by law 392/78, the landlord must pay the landlord of a property in which you carry out industrial, commercial, trade or tourism involving direct contact with the audience of users and consumers, at the end of the lease , provided this is not due to termination for default, termination or withdrawal of the conductor.

ACTION REDIBITORIA

action to achieve the resolution of a contract with a refund of the price paid for Defects

ARCHITECTURAL BARRIER

part of a building which makes it inaccessible to disabled

BED & BREAKFAST

form of tourist rental regulated by regional laws, family-type if it is without the intervention of employees and a maximum number (in most regions) of three rooms (six beds), with breakfast and linen service, or activity is considered business.

MOUTH OF THE WOLF

small opening to air and light to a basement

REAL ESTATE MARKET

institution (Special Agency) headed by the Chamber of Commerce, where you gather questions and real estate deals

COPPICE
 

land occupied by trees that are cut at regular intervals

DEPOSIT

amount of money that confirms the commitment contract and lose those who do not fulfill their obligations, if it had to be in default, the party who received the deposit, the other party has the right to terminate the contract and claim double the amount paid. The party is not in default in any case may seek enforcement of the contract (art. 2932 CC), and then the limit of a judgment which has the same effects of the contract, or liquidation of the greatest damage (art. 1385 CC ). In the case of registration of the preliminary agreement is subject to a tax of 0.5% which is deducted from the principal at the time of recording of the final contract, if this is not stipulated the amounts paid are not refundable.

DEPOSIT PENITENTIAL

is the amount of the right to terminate the contract, the one who loses withdraws the deposit date, if withdrawing who received it must return double (art. 1386 CC).

 CAPITAL GAIN

Capital gains obtained through an investment

LOAD PLANNING

is the primary effect that is produced from setting (homes, offices, factories, shops) as demand for facilities and collective works, depending on the number of people settled on a given territory.

SPECIFICATION OF CONTRACT

list of conditions, including technical, that whoever takes the job agrees to comply.

SECURITISATION

process of transformation of non-marketable assets (usually loans) in marketable securities, ie sold to investors, the financial market.

 REGISTER

survey system of urban and rural buildings, and land, both from a geometric or topographic that under the technical-economic. In terms of real estate, for identification of the property under contract cadastral data have no value critical in relation to the descriptive content of the title (Cassation 14/5/2004 n. 9215).

DOWNTOWN

area that encompasses the original settlement of a municipality

ARBITRATION CLAUSE

agreement in which the parties undertake to settle any disputes that arise in the implementation or interpretation of a contract, turning to arbitration.

UNFAIR TERM
 
contractual provision is particularly onerous for one of the two contracting parties, for which specific approval is provided with a second subscription (Art. 1341 CC).

LOAN

is a contract governed by the Civil Code Articles by Sec. 1806 to 1812 in which one party transfers a movable thing or other property, guaranteeing a specific use for a specified period of time. The deadline is no obligation to return the thing.
There is no fee for the use of the thing, because the loan is “essentially” free (art. 1803 cc second paragraph).
The borrower is required to use the thing to behave according to the diligence of a good father and must care for and preserve the good, the use of which must be specifically stated in the contract. It is, in fact, legally permissible use other than that provided by contract.
The relationship that forms between the two parties, is personal, it is therefore possible that the borrower may grant to a third party the enjoyment of the thing in his possession, without the prior consent of comodante.
The asset to which the loan may be requested by comodante at any time, in the event proves to have an urgent and unforeseen needs. Otherwise, the return takes place at the expiration of the agreed period or once you have agreed upon use.
With reference to costs, the borrower is required to support those relating to the conservation and regular maintenance of the property, while the comodante should bear the costs necessary for urgent and extraordinary.
The loan agreements concluded verbally are not subject to registration.
The recording of the written contract must be made within 20 days at the office of the Registrar and evidence of payment shall be supported (model F23 tax code 109T) of the related tax (EUR 168.00). Being a contract for free, the costs for registration are charged to the borrower.
And ‘mandatory communication to P. S. containing the particulars of comodatari

 CONDONES BUILDING

regularization of unauthorized building in return for donations

COOPERATIVE BUILDING

non-profit societies for the purchase or construction of housing to be allocated to members: a shared ownership housing will be assigned when the members of exclusive property, in undivided property when the housing will remain the property of the cooperative and enjoyment to data members

KITCHEN

environment for cooking equipped with a window and the surface area of at least 10 square meters.

PRELIMINARY AGREEMENT

promise of sale which is intended to set out the obligations and rights of both buyer and seller and the mutual obligation of parties to enter into a definitive agreement in the future. The preliminary contracts are subject to registration that occurs upon payment of a fixed tax of € 168.00 plus a tax of 0.5% on the amount of the deposit and 3% on any advance (the proportional tax on deposit and advance is deducted from the principal at the time of recording of the final contract, if this is not stipulated the amounts paid are not refundable). The preliminary contract can be transferred to the Real Estate Registry and consider themselves as if they ever made within one year from the date agreed between the parties to conclude the final contract, and in any event within three years from the transcript above, the transcript is not performed the final contract or other act which does constitute execution of the preliminary contract