What to check in the land registry before buying a business property

Before purchasing a business property, it is essential to conduct a thorough check with the land registry. This process allows you to verify ownership, structural characteristics, and any potential encumbrances on the property. Using the land registry is crucial to avoid legal surprises or future problems with the property. On Sherlok, you can access tools that integrate this information for a comprehensive evaluation.

What is the land registry and what is its purpose?

The land registry is an administrative register that contains detailed information about properties located in Italy. It provides essential data on ownership, such as title, intended use, and physical characteristics of properties. The main function of the land registry is to support the fiscal management of properties, providing a basis for tax calculation. However, it is also a crucial tool for anyone intending to purchase a property, allowing them to verify the conformity of declared data with the actual state of the property. Furthermore, the land registry helps identify any discrepancies between the real situation and the registered one, which could affect the property's value or marketability.

What to check in the land registry before buying a business property?

Before proceeding with the purchase of a business property, it is important to verify several aspects in the land registry:

1. Ownership: Ensure that the seller is the legitimate owner. This avoids legal problems related to ownership disputes.
2. Boundaries and dimensions: Verify that the dimensions and boundaries correspond to what has been declared. Errors at this stage can lead to legal disputes with neighbors.
3. Intended use: Check that the property has an intended use compatible with your business needs. Changing the intended use can be complex and costly.
4. Encumbrances and easements: Ascertain the absence of easements or restrictions that could limit the use of the property. These may include rights of way or landscape restrictions.

How to obtain a cadastral survey

The cadastral survey is the official document that reports the cadastral data of a property. It can be obtained from the Agenzia delle Entrate or through authorized online portals. Here's how to proceed to obtain one:

1. Access the Agenzia delle Entrate website or an authorized portal.
2. Enter the property's identification data (sheet, parcel, subaltern).
3. Request the survey and download the document in PDF format.

The survey provides information on ownership, consistency, cadastral category, and income. It is also useful for checking any updates or variations over time.

Verifying the presence of mortgages or encumbrances

A critical aspect to verify is the presence of mortgages or legal encumbrances on the property. This information is not always present in the land registry but can be obtained through a mortgage survey from the Conservatoria dei Registri Immobiliari. The mortgage survey provides details on any burdens that could influence the purchase decision, such as mortgages, foreclosures, or other legal restrictions. It is advisable to carry out this verification with the assistance of a notary or a lawyer specializing in real estate law.

Urban and cadastral conformity

Urban and cadastral conformity is another element to verify. Urban conformity concerns compliance with building and urban planning regulations, while cadastral conformity refers to the correspondence between the actual state and the data registered in the land registry. In case of discrepancies, it might be necessary to regularize the situation before purchase. This process can involve additional costs and require the intervention of a qualified technician to make the necessary changes and update the official documents.

The importance of the cadastral map

The cadastral map is a visual tool that shows the position and configuration of the property relative to other properties. It is useful for verifying the correct placement of boundaries and for gaining a clear view of the context in which the property is located. On Sherlok, the integration of the cadastral map allows you to view this information directly in the listing. This helps avoid valuation errors and ensures that the property meets expectations in terms of location and accessibility.

How to correctly interpret cadastral data

Correctly interpreting cadastral data is fundamental for an accurate property valuation. The main data to consider include:

• Sheet, parcel, and subaltern: Indicate the exact location of the property in the land registry.
• Cadastral category: Defines the type of property (e.g., commercial, residential) and affects the cadastral income.
• Cadastral income: This is the basis for calculating taxes like IMU and can influence market value.

Understanding this data requires attention and, in some cases, the assistance of a professional to avoid errors that could have legal or economic consequences.

Frequently asked questions

What documents are needed for a cadastral check?

For a complete cadastral check, you will need the cadastral survey, the cadastral map, and, if necessary, the mortgage survey.

Can I perform the cadastral check myself?

Yes, you can access the online services of the Agenzia delle Entrate to obtain the necessary surveys, but it is advisable to seek assistance from a professional to correctly interpret the data.

Is it possible to purchase a property with mortgages?

It is possible, but it is crucial to assess the impact of mortgages on the property's value and negotiate with the seller to resolve any outstanding issues before purchase.

How long does a cadastral check take?

The time required depends on the complexity of the property and the availability of documents, but it can generally be completed in a few days.

How can I regularize a cadastral discrepancy?

It is necessary to contact a qualified technician to update the cadastral data and submit the correct documentation to the Agenzia delle Entrate.

What are the costs associated with a cadastral check?

Costs can vary based on the services requested. The cadastral survey has a low cost, while professional consultation or any necessary regularizations may incur additional expenses.

Conclusion

Before purchasing a business property, performing a thorough check with the land registry is essential. On Sherlok, you can access advanced tools to integrate this information and make informed decisions. Explore businesses for sale to find the right opportunity for you.