Archivi: Termini del Glossario

The annual tax for garbage collection and disposal, charged by the Comune. It is part of the Imposta Unica Comunale (IUC) along with IMU (and formerly TASI) . The TARI is paid by whoever occupies the property (owner or tenant) and is meant to cover costs of urban waste management. It’s usually calculated based on the property’s size (in square meters of floor area) and the number of occupants (for residential) or type of business (for commercial), following local regulations . Each Comune sets its tariffs per m² and per number of residents or category. Bills are typically issued yearly or in installments. For example, a 100 m² apartment with 3 residents might pay a certain amount, while an empty second home often still pays a reduced TARI (some cities discount unoccupied houses). Non-payment can lead to penalties and interest. When buying a house, past unpaid TARI stays with the previous occupant (unlike IMU which follows the property), but in rentals the tenant should pay TARI unless contractually the owner does. It’s important to register with the Comune’s waste office when you move in or out. The TARI has evolved from previous acronyms: TARSU, TIA, TARES, but since 2014 it’s stably TARI. Always check local rules: some places count only superficie calpestabile (usable area) , some automatically assume occupants by area if not declared. It’s not typically a huge tax (a few hundred euros per year for an average flat) but helps fund trash collection, street cleaning, landfills, etc.

The Annual Global Effective Rate, essentially the Italian term for Annual Percentage Rate (APR) of a loan. It represents the total cost of credit on a yearly basis, including nominal interest (TAN) plus fees, expressed as a percentage. Lenders must disclose the TAEG for mortgages and consumer loans . For example, a mutuo might have a nominal interest of 2% but with arrangement fees, insurance, etc., the TAEG might be 2.3%. The TAEG allows borrowers to compare different loan offers comprehensively. In Italian practice, TAN (nominal rate) plus spread etc. is talked about for interest, while TAEG includes things like appraisal fee, preliminary investigation fee, mandatory insurance if any, and known periodic costs. It assumes the loan runs full term. If a mutuo has variable rate, the TAEG is based on initial rate but will change with fluctuations. The term ISC (Indice Sintetico di Costo) is also used interchangeably with TAEG in some documentation. In summary, TAEG is the benchmark of the loan’s total annual cost – the lower the better for the borrower. Not to be confused with TAN (Tasso Annuo Nominale) which is just the interest rate without fees.

In property listings and valuations, this term denotes the total calculated area of a property for pricing purposes. It includes the floor area of the interior plus a proportion of ancillary areas (balconies, terraces, gardens, garages, etc.), usually weighted. For example, the superficie commerciale might count 100% of the main interior, 50% of balconies, 30% of gardens, 90% of basements if habitable, etc., depending on market conventions. It’s essentially a way to reduce a property with various spaces to a single “equivalent” square meter figure. Real estate agents and appraisers use mq commerciali to compare properties. When you see an apartment advertised as 100 mq commerciali, its indoor net area might be less (perhaps 80 mq calpestabili). Each element’s contribution: typically internal walls and pillar footprints are included, external walls maybe half-thickness counted, private garden maybe 10% of its area, parking space perhaps a fixed value conversion. There’s no single legal formula, but guidelines exist (for instance, UNI technical standards or local practice). It’s important to clarify because sometimes disagreements arise: e.g., a terrace might be huge but not fully utilizable, yet it inflates the commerciale. Notaries don’t usually use “superficie commerciale” in deeds; they refer to cadastral data. But for market value and agency info, superficie commerciale is king. Always ask what is the superficie calpestabile (walkable interior) versus commerciale to understand actual size.

The transfer of a decedent’s estate to their heirs. In Italian real estate, successione refers to the process and the declaration by which heirs (by will or by law) acquire ownership of the deceased’s properties. If someone dies owning property in Italy, their heirs must file a dichiarazione di successione (inheritance declaration) with the Agenzia delle Entrate, listing assets and paying any imposta di successione. Real property in succession is then updated: a specific application (voltura catastale) is filed to change cadastral records to heirs’ names. Italian law reserves portions of the estate to close family (forced heirship: legittima). If a will violates these shares, heirs can challenge transfers (which is why donazione is riskier, and some buyers avoid titles coming from recent donations). After succession, heirs usually become co-owners (comunione ereditaria) until they formally divide assets (via atto di divisione or selling to each other). A property can be sold during this comunione, but all heirs must agree and sign the deed. A buyer should ensure all rightful heirs are participating. Succession can be testamentaria (with a will) or legittima (per law if no will). Properties inherited mortis causa get special tax treatment (cadastral + mortgage tax only, unless overall estate triggers inheritance tax). For EU citizens, an EU succession regulation allows choosing applicable law of nationality for the estate. Still, Italian property transfer formalities must be followed. Ultimately, successione is how one acquires property from deceased relatives – the new owners should consolidate their title (perhaps doing a division if multiple heirs) before selling to outsiders.

In mortgage context, the spread is the lender’s margin added to the reference rate to determine the interest rate on a variable or mixed loan. For instance, a variable-rate mortgage might be set at “Euribor + 1.5% spread”. That 1.5% is the bank’s profit margin over the Euribor index. For fixed-rate loans, instead of “spread” one often refers to the overall rate (TAN), but even fixed loans conceptually have a spread over the swap rate (IRS). A lower spread means a more competitive loan. Italian banks typically offer spreads in the range of 1% to 3% depending on market conditions and borrower risk. During loan comparisons, borrowers focus on spread since reference indexes like Euribor are standard. The Tasso Annuo Effettivo Globale (TAEG) or APR includes spread + any other fees . A bank might say “our spread for 20-year variable mutui is 1.8%”; if Euribor is 0%, interest = 1.8%. If Euribor rises to 1%, interest = 2.8%. For many years Euribor was negative, but banks usually floor it at zero, so effectively rate = spread in low-index environments. When negotiating a mutuo, you can sometimes get a spread reduction by having good finances or moving other business to the bank. The term spread also appears in macro-finance (like BTP-Bund spread) but in loans it’s specifically the bank’s markup.

The periodic expenses shared by condo owners to manage and maintain the common parts of a condominium. These spese are typically divided in ordinary vs extraordinary. Ordinary expenses include routine cleaning of common areas, gardening, minor repairs, electricity for stairwell lights, elevator maintenance, administrator’s fee, insurance, heating fuel (if central heating), etc. Extraordinary expenses are one-off costs like a new roof, facade restoration, elevator replacement – usually decided by the assembly and often paid via special assessments. Each owner’s share is determined by their millesimi unless specific tables assign differently (for example, elevator costs might be split by floor level table). Spese condominiali are usually billed monthly or quarterly by the amministratore. When buying, it’s wise to ask the amount of monthly condo fees and if any big extraordinary works have been approved (the seller should pay those up to transfer unless agreed otherwise). By law, the seller must provide a certificate of paid condo dues, and the buyer is jointly liable with the seller for the year of sale and prior unpaid condo debts (Civil Code art. 63 disp. att.). Annual ordinary fees can vary widely (€500 to several thousand) depending on building services (doorman, pool, central AC). Not paying condo fees can lead to legal action and an eventual forced sale of the unit, as they are an obligation with high priority. Always factor in spese condominiali when calculating ownership costs.

A specific incentive (related to Ecobonus) that provides tax deductions for seismic risk improvement works. Italy, being earthquake-prone, introduced Sismabonus to encourage reinforcing buildings. Depending on the seismic zone and the level of risk reduction achieved (e.g., improving the building by one or two earthquake safety classes), owners can get 50% to 85% of the costs as a tax deduction, often spread over 5 years. Like Ecobonus, this can also be transferred as credit or obtained as a discount from contractors. Sismabonus is applicable to both houses and condos, with higher caps for condos. For example, if you reinforce a single-family home and reduce its seismic risk by two classes, you might deduct 80% of up to €96,000 of expenses. The highest benefit was in the “Superbonus 110%” scheme (2020-22) which combined Sismabonus and Ecobonus for 110% credit. Even outside extraordinary measures, Sismabonus continues to be available at standard rates. From a real estate perspective, buildings with certified seismic improvements or new constructions in high seismic zones can command better prices and are safer investments. When buying, especially in earthquake zones 1-3, it’s relevant to know the building’s anti-seismic features. Sismabonus can also be a selling point if the seller has done and transferred the benefit or reduced property taxes by reinforcing the building.

A servitude or easement – a right enjoyed by one property (dominant tenement) over a neighboring property (servient tenement) . Common servitù include right of way (passaggio) allowing one landowner to cross another’s land, rights of light or views, or utility easements. Italian easements are governed by the Civil Code (art. 1027 defines servitù as a burden on one land for the utility of another ). Easements “run with the land,” meaning they bind successive owners. Some are by law (e.g., drainage of rainwater, or servitù di passaggio granted to landlocked parcel owners), others by agreement between parties, and some by long-term use (prescriptive easements after 20 years of continuous use). A notary in a sale will list known servitù affecting the property. If you buy a house that benefits from an easement (like right to use a driveway on neighbor’s land) or that is burdened by one (neighbor has right to put pipes under your yard), you must respect it. Some easements can be extinguished if the dominant and servient properties merge under one owner or by abandonment/non-use after 20 years. It’s crucial to be aware of servitù: for example, a scenic view easement could limit building on a lot, or a utility easement could allow the town to dig on part of your land. They can impact property value and use. Legal disputes can occur if easements are not honored. The Civil Code and court decisions provide detailed rules (e.g., the owner of the servient land must not impede the servitude, the dominant owner must exercise it without needlessly burdening the servient land).

The marital property regime where each spouse’s assets remain separate and individually owned. If a couple chooses separazione dei beni (usually at the time of marriage or by later notarial agreement), properties each spouse acquires stay with that spouse, rather than falling into communal ownership. This choice is often formalized in the marriage certificate. For real estate, this means if one spouse buys a house, it’s 100% theirs and not automatically half the other’s (unlike comunione dei beni). Many foreign couples opt for separazione when buying in Italy to simplify matters. In a deed, if two spouses under separation regime are buying together, each one’s fractional share must be specified (e.g., 50%-50%). If only one is buying, the notary will mention the marriage regime to clarify the other spouse has no rights. Under separazione, at divorce each keeps what is theirs (though this doesn’t affect maintenance or other claims). Note that separation of property does not override forced inheritance rules – a spouse is still a forced heir by law. When taking a mortgage, banks sometimes prefer separazione because the non-debtor spouse’s existing assets are not at risk for the other’s debt. Italian couples by default since 1975 are in comunione, so separazione must be explicitly chosen; about 1/3 of Italian marriages now opt for separazione beni.

Any property that is not one’s primary residence (prima casa). A seconda casa could be a vacation home (like a seaside cottage or a mountain chalet) or an investment/income property (like an apartment rented out). The designation matters mostly for taxes: second homes do not benefit from the first-home purchase tax reductions (so purchase registration tax is 9% instead of 2% ) and they are subject to IMU annual property tax (with higher rates, since primary residences are exempt or lower). Utilities can also be more expensive (some areas have higher water/garbage fees for non-residents). Culturally, many Italian families own a second home in their ancestral town or a holiday area. When a non-resident buys in Italy, it’s usually considered a second home for them (unless they move their official residenza). Financing a second home might be slightly stricter – Italian banks prefer prima casa loans (some offer second home loans but may have a lower LTV or higher rate). In contracts, you may see “da adibire a casa di villeggiatura” (to be used as holiday home), which just clarifies intent. Legally there’s no difference in property rights between first and second home – only the fiscal treatment differs. If you later move into your second home and make it your residenza, you can sometimes update its status (but initial tax paid won’t be refunded, except in limited cases of later prima casa riacquisto credit).