The deposit of the sale price is a mechanism introduced in Italy by Law No. 124/2017 to ensure greater security in real estate transactions.
Under this regulation, the buyer can request that the balance of the price be deposited into a dedicated account held by the notary handling the transaction. At the same time, the notary is tasked with verifying the absence of liens or other prejudicial encumbrances beyond those already indicated in the sales deed.
How the deposit works:
- Payment of the price → The buyer deposits the amount into the notary’s dedicated account.
- Notary’s checks → After the registration and publication of the deed, the notary verifies the status of the property.
- Positive outcome → If no additional encumbrances are found, the price is released to the seller.
- Negative outcome → If encumbrances are discovered:
- The notary uses the deposited funds to settle them;
- If the funds are insufficient, the money remains deposited until an agreement between the parties or a court ruling is reached.
Why it is important
This procedure protects the buyer from risks related to mortgages, seizures, or other undisclosed encumbrances, while also ensuring the seller receives payment once the property is free from any obstacles.
In summary
Depositing the sale price with the notary is a legal guarantee that makes the transaction safer and more transparent for both parties.
