The importance of choosing a notary when buying a property

The choice of a notary is a fundamental aspect of purchasing real estate property in Italy. Learn about the central role of this professional figure, the obligations he or she must meet and the rules that govern his or her duties in real estate purchases and sales.

The purchase of a real estate property is one of the most significant decisions in a person’s life. In Italy, this process is strictly regulated by law and requires the intervention of a fundamental figure to guarantee security and transparency in the entire operation: the notary.
His choice, in addition to being indispensable, assumes considerable importance: in fact, the relationship that is created between client and notary is very significant, given the role and tasks that our legal system entrusts to the notary and that this figure is required to perform.

Let us see, then, what are the obligations, duties and functions of the notary, and what laws regulate his intervention.

THE ROLE OF THE NOTARY IN BUYING AND SELLING REAL ESTATE

The notary is a public official whose main function is to authenticate deeds and ensure that real estate buying and selling is carried out in accordance with all the applicable laws. However, his contribution goes far beyond simply formalising a contract.
Specifically:

• Verification of legal compliance.
  The notary performs thorough checks to ensure that the real estate is free from liens, mortgages or other encumbrances that could compromise the buyer’s rights. This stage includes verification of the property’s provenance and analysis of its urban and cadastral regularity.
  
• Drafting and notarization of the notarial deed.
  The notary draws up the deed, reads it to the parties involved, and notarises their signatures. This document becomes public and is a guarantee of certainty for both parties.
  
• Registration and transcription of the deed.
  Once the deed is executed, the notary takes care of its registration with the Internal Revenue Service and transcription in the Real Estate Registries. This step ensures the enforceability of the deed against third parties and gives full legitimacy to the transfer of ownership.
  
• Impartial advice
  The notary is required to ensure impartiality and protect the interests of both parties, the seller and the buyer. It is his duty to provide clear and complete explanations of the rights and obligations under the terms of the contract.
  

THE NOTARY’S OBLIGATIONS AND DUTIES

As a public official, the notary is subject to precise obligations and duties enshrined in Italian law. These include:

• Diligence and professionalism
  The notary must perform his or her activities with the utmost care and competence, ensuring compliance with the rules and the protection of the parties involved.
  
• Confidentiality
  He is required to maintain professional secrecy on all information acquired in the performance of his duties.
  
• Duty of impartiality
  The notary is not permitted to favour one party to the detriment of the other and must ensure that both parties fully understand the terms of the agreement.

RULES GOVERNING THE NOTARY’S INTERVENTION

LThe notary’s activity is regulated mainly by the Civil Code and the Notarial Law (Law No. 89 of February 16, 1913).

As for the Civil Code, the same in Article 1350 stipulates that contracts transferring ownership of real estate must be in writing and notarised, while the subsequent Article 2643 regulates the transcription of deeds in the Real Estate Registries to make them enforceable against third parties.

The Notarial Law regulates the professional figure of the notary public, defining its requirements, duties and responsibilities.

Also worth mentioning is Legislative Decree No. 23 of March 14, 2011, which introduces some relevant tax provisions, such as registration tax, VAT and mortgage and cadastral taxes, which the notary is required to calculate and pay on behalf of the parties.

Finally, it is worth mentioning the provisions of Law No. 124/2017 (read here our article on the subject), which, concerning the payment of the balance of the residual price to be paid to the seller, introduces the option (coming from at least one of the parties) to request that the relevant amount be held on deposit in a dedicated Escrow account of the Notary Public, until the deed of sale is transcribed at the competent Land Registry.

In conclusion, the notary is an indispensable figure in the process of buying real estate. His presence ensures safety, legality and protection for all parties involved. The choice therefore of the notary is an important one: relying on an experienced and competent professional can make all the difference in order to ensure a peaceful purchase and sale.

Great Estate’s excellence is combined with the expertise of Great Synergy, the network of companies, professionals and qualified technicians who can best assist you and provide specialised advice in every area of real estate, including the choice of notary to draw up your deed of sale.

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