Archivi: Termini del Glossario

The act of registering a deed or legal instrument in the public real estate registers (Conservatoria) to ensure it’s opposable to third parties. Trascrizione is crucial for sales, mortgages, easements, court attachments, etc. When you buy a house, after signing the notarial deed, the notary will file the nota di trascrizione to record the new ownership in the registries . This way, anyone checking the records (via visura ipotecaria) will see the property was transferred to you as of that date. If a deed isn’t trascritto, it may not affect third parties – for example, if an heir informally gives a house to someone without proper deed and transcription, that someone’s “ownership” isn’t protected if the heir then sells to someone else properly. Italian law prioritizes the first to record in case of conflicting transfers (race-notice system). Trascrizione is also done for preliminare contracts if parties want extra protection (caution: it lapses if final deed not done in 3 years, but gives priority in case seller tries to resell). Mortgages are registered via iscrizione (a type of transcription). Essentially, trascrizione is what makes property rights public and secure. The term also refers to the notation itself. After a deed, notaries perform two actions: registrazione for tax at Agenzia Entrate and trascrizione for property rights at Conservatoria . For a buyer, it’s important that their title is promptly trascritto – Italy’s system means if a fraudulent seller sold the same property twice, the buyer whose deed was recorded first keeps the property and the other must seek damages. Fortunately, with the notary system, such situations are very rare. But do note that certain rights like usufruct or servitù also require transcription to be binding on future owners . Always ensure the notary provides evidence of successful trascrizione (in modern times, it’s electronic and quick).

A traditional dry-stone hut with a conical roof, native to the Puglia region of Italy (notably the Alberobello area). Trulli (plural) are often small field shelters or dwellings made of limestone boulders, with thick walls and distinctive cone-shaped roofs, sometimes whitewashed. They are culturally and historically significant (Alberobello’s trulli are a UNESCO World Heritage site). In real estate, trulli often come as part of rural properties – either standalone tiny structures or clusters converted into vacation homes. Many have been restored and expanded (connecting several cones together) to serve as charming accommodation. When buying a trullo, one should be aware of heritage protection rules: modifications must retain the character; new construction may need to use traditional methods. Trulli are usually classified as rural buildings (often A/4 or A/7 if made residential). They may lack modern foundations or standard ceiling heights in parts, but are prized for their unique architecture. If a trullo is in a falling state, renovation will need specialized craftsmen; the cost can be high per square meter. Some properties list “lamia and trullo” – lamia being a traditional vaulted stone building often accompanying trulli. Owning a trullo is often about owning a piece of Apulian history. Ensure that any previous restoration had necessary permits, especially if it’s in a protected zone. Trulli don’t have the same use of space as regular houses (round rooms, thick walls), but their appeal is the fairy-tale aesthetic and cool interior climate. They are popular as tourist rentals.

A plot of land that is zoned to allow construction of buildings. Also called terreno fabbricabile or suolo edificatorio, this land has development rights according to the local Piano Regolatore or PUC. Key parameters govern what can be built: indice di edificabilità (building index or floor-area ratio), altezza massima (max height), destinazione d’uso (allowed uses: residential, commercial, etc.), required distances from boundaries, etc. Buildable land is often much more expensive than agricultural land because of its potential. Anyone purchasing should request a Certificato di Destinazione Urbanistica to see the exact zoning designation . Common categories: zona B (already partially built residential area, can complete), zona C (new expansion area), zona D (industrial). There may be obligations when building, like ceding part for public roads or paying oneri di urbanizzazione. Also, sometimes land is edificabile only if combined with others via a planning agreement. Taxes: IMU on edificabile land is generally high (since it’s based on market value, which is high for buildable land). If a private person sells a terreno edificabile, any gain is taxable as income (no 5-year exemption like houses). When buying, consider checking if the area needs land re-parceling or if services (water, sewer, road) are already present. Also see if any vincoli (constraints) like archaeological or landscape restrictions apply. Sometimes land is edificabile subordinata meaning buildable only- Terreno Edificabile (Buildable Land): A plot of land zoned to allow construction of buildings. Also called lotto edificabile, this land has development rights defined by the local urban plan. Key parameters govern what and how much can be built: an indice di edificabilità (allowable building volume or floor area ratio), maximum building height, required green or parking areas, etc. Before purchase, one should obtain a zoning certificate to confirm the land’s designation . For example, if it’s in a zona residenziale di completamento one can build a house of a certain size per square meter of land. Buildable land is valued far higher than agricultural land due to its construction potential. When building, the owner will need to submit a project for a permesso di costruire and pay oneri di urbanizzazione (infrastructure fees) to the Comune. Some land might be edificabile subordinata – buildable only after certain conditions (like a new road or plan approval) are met. IMU property tax on buildable land is based on market value, so it can be significant even if the land is unused. If selling as a private individual, any capital gain is subject to tax (unlike a primary home sale). Always verify if any constraints apply (landscape or heritage restrictions, presence of archaeological finds, etc.) which could limit the ability to build. Essentially, terreno edificabile is land where you can create new structures in compliance with zoning, making it the raw material for development and construction projects.

Land zoned for agricultural use (farming, forestry, pasture) as opposed to buildable land (terreno edificabile). Terreno agricolo typically cannot be built upon for residential or commercial structures except limited farmer’s tool sheds or rural buildings directly tied to farming (and even those often require being a qualified farmer to get permission). It’s usually classified as zona agricola in the town plan. Agricultural land is valued per hectare or square meter based on productivity (vineyard, olive grove, arable, etc.) and often has a much lower price than buildable land. Buying agricultural land can have restrictions: pre-emption rights exist for neighboring farmers or tenant farmers (prelazione agraria). If more than a certain size, one might need a nulla osta from local agricultural authority to ensure it’s used for farming. For foreigners, note that owning agricultural land doesn’t automatically grant building rights. Tax-wise, if owned by a non-farmer, IMU may be due (though many agricultural lands are IMU-exempt, especially if used by farmers or in mountain areas). Cadastrally, terreni agricoli are listed in the Catasto Terreni with a quality (crop type) and reddito agrario and reddito dominicale (two values for tax purposes). If one intends to change use of agri land to develop, it requires a zoning variation or planning instrument – not easy unless in expansion plans. People buy agricultural land for farming, for leisure (like a large garden or olive grove), or sometimes speculatively hoping it might become buildable. Water rights, easements, and public consortia (for irrigation) can apply. Ensure any existing usufruct or lease is known. If you’re buying a country house, often it includes some surrounding terreno agricolo.

Literally “ground-to-roof,” a terratetto is an Italian term for a house that spans from the ground floor up to the roof without any other dwelling above or below. It is essentially an independent unit on multiple levels (typically 2–3 floors), often attached on one or both sides to other houses. Common in Tuscan towns and other historic centers, these are like rowhouses or terraced houses. Each terratetto has its own entrance at street level and usually a small footprint with vertical development (for example, living area on ground, bedrooms upstairs). Owning a terratetto means no condominium constraints – it’s all one’s own property (though it might confine with neighbors’ walls). They can be rustic (like former village homes) or modern-built in rowhouse developments. The advantage is autonomy similar to a single-family home but usually smaller and in built-up areas. When buying a terratetto, one checks the shared walls (there may be servitù for maintenance on adjoining walls or roofs). Also, due to vertical layout, consider stairs. A common subtype is terra-cielo (earth-sky), synonymous with terratetto. Essentially, it’s an “entire building” for one family. In cadastral terms, it’s often one A/4 or A/3 unit. Terratetti can be found in medieval villages where each door on the street is a different narrow house, or in urban areas as mews-style dwellings. They provide privacy (no noisy upstairs neighbor) but also responsibility for all upkeep (roof, facades). In markets, terratetti are attractive to those who want a house rather than an apartment but within town.

An interest rate that can change over the life of the loan, usually in relation to an index such as Euribor or ECB rate plus a fixed spread. A mutuo a tasso variabile will have payments that fluctuate, typically every 1, 3, or 6 months, following the index movements. For example, if the loan is Euribor 3M + 1%: if Euribor is 0.2%, the rate is 1.2%; if Euribor rises to 1.0%, the rate becomes 2.0%, increasing the monthly payment. The advantage of variable rates is that initially they are often lower than fixed rates, so you pay less interest if rates remain low . The risk is rate volatility – if market rates climb, so do your payments, which can significantly impact affordability. Italian variable loans often use 3-month Euribor or the ECB main rate as reference. Some have a cap (maximum) to limit risk (variabile con cap). Others allow an option to switch to fixed later (see tasso misto). Borrowers choosing variable usually either have short-term loans, expect rate declines, or are comfortable with uncertainty. Historically, Euribor has been low/negative in recent years, making variabili very attractive, but if inflation/central bank policies change, one must be ready for higher costs. Italian law allows borrowers to refinance or port the loan to another bank (with surroga) at no cost, which many did switching from variable to fixed in low-rate periods. When considering a variable mutuo, check if the loan has any adjustment floor (e.g., Euribor negative treated as zero) which many do, meaning the lowest rate equals the spread if index is below zero. Also ensure you could handle a scenario of rates rising a few percent.

A mortgage structure that includes both fixed and variable rate phases or options. For instance, a mutuo a tasso misto might start with a fixed rate for the first 5 years and then switch to a variable rate, or vice versa. Another form allows the borrower to choose at certain intervals whether to convert the rate. Essentially, it’s “mixed” because it’s neither purely fixed for full term nor purely variable throughout. Banks introduced these to offer initial stability and later flexibility. For example, a 20-year loan might have years 1–10 at a fixed 2.0%, then years 11–20 at Euribor + spread (variable). Some loans allow one or more switches on preset dates (say you can pick fixed or variable every 3 or 5 years). The benefit is adaptability: if rates are low now but could rise, you might do variable for a while then lock in fixed, or start fixed and later if you anticipate lower rates, switch to variable. The borrower should carefully read conditions: how many switches allowed, what rate will apply (often the then-current index plus original spread, or a new spread). Usually, the initial rate in tasso misto is slightly higher than a pure variable but lower than a pure fixed of same duration. Since the choice can be complex, not all borrowers utilize it. It was more common in times of uncertainty, but currently many just choose fixed or variable. A cousin of tasso misto is mutuo con cap (variable with a maximum cap rate). Ultimately, tasso misto gives some control, but one must actively monitor rate trends and execute the option at the right time to reap benefits.

An interest rate on a mortgage or loan that remains constant throughout the entire loan term. A mutuo a tasso fisso will have the same interest percentage every year, regardless of market fluctuations. This means the rata (monthly payment) is typically fixed as well (assuming standard amortization). Borrowers often choose fixed rates for stability and predictability. The fixed rate applied is determined at the start, influenced by the IRS index (Interest Rate Swap for the loan’s duration) plus the bank’s spread. For example, a 20-year fixed loan might have a rate of 2% locked in, so one pays 2% interest from first to last payment. Even if Euribor or other indices change, it does not affect a tasso fisso loan. Generally, if market rates are expected to rise or one’s budget can’t handle uncertainty, fixed is preferred. The disadvantage could be a higher initial rate than a variable loan or possibly paying more interest if market rates stay low. In Italy, fixed-rate loans have been very popular in recent low-rate years (over 80% of new loans). A notary will mention in the deed the type of interest (fixed vs variable). Note that if you want to change, you can surrogate (refinance) into a new loan if advantageous. Also, some loans called tasso misto or tasso variabile con cap have fixed components or maximums, but a true fixed rate means unchanging.

A tax payable upon registering property transactions or deeds, typically calculated as a percentage of the transaction value. Essential for legally formalizing property transfers.

A local tax that used to be charged for indivisible municipal services (like street lighting, road maintenance) from 2014 to 2019. It was often billed alongside IMU. However, starting from 2020, TASI has been abolished and merged into the new IMU. Under the old system, TASI was split between owners and in some cases tenants (10% tenant, 90% owner, unless the Comune set differently). Now, with the 2020 budget law, there’s just a single IMU. Some people still colloquially mention TASI, but legally it no longer exists as a separate levy. Historically, TASI rates were low (e.g., 0.1–0.33%) and combined with IMU caps. For current relevance, one might encounter it when looking at older unpaid tax bills or in archive documents. If you see “IMI” or “IUC” on older records: IUC comprised IMU, TASI, TARI. But as of today, for seconde case and other taxable properties, the Comune sets one IMU rate. TASI’s elimination simplified things (primary residences no longer pay anything since they were exempt IMU and now no TASI either). So now you’ll never get a separate TASI bill – only IMU and TARI. If reading an old contract or rules, understand TASI references are outdated. The servizi indivisibili funding is now implicitly through IMU or other municipal revenue.