Rent to Buy agreement must be filed by an Italian Notary; Filing effects last for 10 years which indeed represents the duration of the Long Rent to Buy scheme.
Filing (Trascrizione) represents the juridical instrument used to protect the buyer’s interest; It consists of an annotation in the Land Registry (Conservatoria dei Registri Immobiliari) done by the Notary.
It gives “public faith” to the deed securing it from any third action (creditor attack, third buyers, bankruptcy, heirs, etc.).
The most common mistake purchasers do when buying property with the Rent-to-Buy method is to consider the whole procedure an “easy game” every real estate agent knows to deal with.
Perhaps in your country it represents a widespread methodology, but in Italy Rent-to-Buy is not yet part of the operators culture and daily professional practice.
Underestimating this circumstance could probably mean you won’t conclude the purchase with the Rent-to-Buy method or make it wrong; the worse scenario being victim of not honest agents.
