What are my rights as a seller if the bank transfer payment has not arrived in Italy?

Question from lilla, What are my rights as a seller if the bank transfer payment has not arrived in Italy?

Answer from AI:

In Italy, the process of buying and selling property involves several steps, including the signing of a preliminary contract (compromesso) and the payment of a deposit. If you’re in a situation where the buyer has claimed to have made a bank transfer, but the funds have not arrived in your account, there are several things you should consider.

Can I refuse to sign the compromesso if I don’t have the money in my bank account?

Generally, you have the right to refuse to sign the compromesso until you have received the agreed payment. The compromesso is a legally binding agreement, and it’s important to ensure that all conditions, including payment, are met before signing. However, the specifics of your situation may vary, and it’s recommended to consult with a legal professional for personalized advice.

Does the wire transfer receipt have legal value?

A wire transfer receipt can serve as proof that a payment has been initiated, but it does not necessarily guarantee that the funds will arrive in your account. The receipt shows the intention of the buyer to pay, but until the funds are in your account, the transaction is not complete.

Does the compromesso signed but not registered without having received the money have legal value?

In Italy, a compromesso does not need to be registered to be legally binding. However, registration provides additional protection, particularly for the buyer. If the compromesso is signed but not registered, and you have not received the money, it could potentially lead to legal complications.

It’s crucial to consult with a legal professional before making any decisions in this situation. They can provide advice based on the specifics of your case and the applicable laws in Italy.

For more information on buying and selling property in Italy, you can refer to the Just Landed guide or the UK government’s guidance for buying property abroad.

Remember, this information is intended to provide a general understanding of the law. It’s not intended to provide specific legal advice. Always consult with a legal professional for personalized advice.