BENEFICIARY CONTRAINTS REGARDING IMMOVABLE AND MOVABLE PROPERTY

Requirements

The Italian legal system provides for the possibility of allocating certain assets (registered real estate and furniture) for the realisation of interests worthy of protection, for a period not exceeding ninety years or for the duration of life of the beneficiary;

It consists in the imposition of a destination bond which subtracts the goods to which they refer to the events that the owner could eventually be involved:

  • they may not be subject to executive or insolvency proceedings;
  • they are not part of the estate;
  • they are not subject to the provisions of the legal communion of assets;
  • the constraint is transcribed in public registers in which the assets covered by the deed of real estate destination are recorded.

It is an exception to the cardinal principle of the Italian legal system, according to which each party is responsible for meeting its obligations with all its assets, present and future.

The form required by law is that the of the public deed.

Share by: