The sale of a property may involve not only full ownership, but also individual real rights such as bare ownership and usufruct. In certain real estate transactions, these rights are transferred separately to different parties, often giving rise to questions, particularly from a tax perspective.
A recent clarification issued by the Italian Revenue Agency confirms that the separate transfer of bare ownership and usufruct should not result in adverse tax consequences for the seller, provided that the transaction is properly structured from both a legal and tax standpoint.
In these cases, the role of the notary is essential to ensure contractual clarity, legal certainty, and the correct application of the relevant legislation.
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