Papi Notary Firm Notary in Rome

Mortgage deeds

The moment you decide to take out a mortgage is always crucial and delicate. 

We provide you with assistance in dealing with it, in the best possible way.

Mortgage deeds


A mortgage is a contract whereby one party, called the lender (usually a bank), transfers a certain amount of money in favour of the other, called the borrower, so that the latter can benefit from it, for a fixed period of time, against payment charged at interest made to the lender.


Having thus sketched out the essential structure and function of the contract, it should immediately be pointed out that a mortgage in concrete terms is enriched with various clauses not always immediately comprehensible, but necessary to regulate all the relationships between the parties for the envisaged duration: modalities of disbursement of the loan, fixing the terms of repayment of principal and of interest, quantification of contract administration expenses, regulations and costs of early termination, issue and management of guarantees, consequences of relating (delays) and absolute (non-payment) defaults. Each of these aspects is, in turn, characterised by a bewildering array of possibilities and nuances, the result of both modern practices and rules and doctrinal meditation that can rightly be defined as thousands of years old (mortgage is contemplated in classical Roman law and has been the subject of study by Byzantine jurists, medieval common law jurists, and jurists of the codifications of the modern age).


Currently, the matter is further enhanced by suggestions and novelties from foreign countries and the EU legislation. All this gives an idea of the actual complexity of the figure: loan contract, a typical product of an intellectual performance, is well suited to being conceived as a composition of legal engineering, in which the work of construction, dimensioning and coordination of the various clauses characterises the result as a whole, and makes it possible to evaluate it in terms of better (or worse) quality and convenience.


Mortgage contracts are generally drawn up by banks; the notary, if instructed in good time by the borrower, may exercise control over them in order to make them clearer and more comprehensible, identify and suggest solutions better suited for the contracting parties, and to eliminate clauses that may generate an unjustified contractual imbalance.


If the basic structure of the contract is as indicated, it may occur, quite frequently, that the mortgage is arranged according to a special discipline, that of "land credit". Today, these rules differ very little from those of an "ordinary" mortgage loan, and there is even debate among experts as to whether this is the case; however, there are significant differences, some of which will be pointed out in the following illustrative sheets.


On the other hand, the so-called unilateral mortgage, which has become widespread in recent practice, does not constitute a particular species. The difference lies solely in the fact that it is only the borrower who goes to the notary (as it is indispensable for the granting of mortgage guarantee): this method of completion may reduce, de facto and depending on the case, the notary's expert guidance and advisory capacity.

Attention should be drawn, as of now, to an essential point. Signing of the mortgage agreement is not always immediately followed by the material availability of the money: sometimes the banks withhold the sum until the actual acquisition of the mortgage guarantee, that is, in practice (depending on the various models), even for a fortnight (or more) after the drawing up of the mortgage agreement. The point is of considerable importance since, often, the borrower needs to dispose of the money immediately, in order to pay the seller for the house that the borrower simultaneously grant as collateral to the bank! One possible remedy is to obtain 'bridge' (or 'pre-financing') financing from the bank, covering the period between the signing of the mortgage agreement, and the time needed to consolidate the guarantee; but not all banks are willing to do this.

With the notary's assistance, one can, depending on the case, try to reconcile the opposing requirements as far as possible.


Another caveat concerns a possible aspect: it may be that the borrower foresees that the property purchased, and mortgaged, will soon have to be resold due to various requirements (transfer of residence, increase in family members with the need for a larger house, etc.); consequently, the borrower considers, on account of the price, being able to pass on to the future new purchaser of the property the part of the mortgage remaining to be paid. Now, apart from the fact that 1) the purchaser must also agree to the assumption, and that 2) banks sometimes place some obstacles in the way of the transaction, it must above all be borne in mind that, as a general rule, 3) the take-over is not "liberating", but "cumulative": this means that, having taken over the residual loan, the bank does not change debtor, but acquires an additional one; therefore, if the new buyer by chance fails to pay the bank, the latter may still make claims against the original borrower. For these reasons, current practice shows less recourse to the assumption of debt: in essence, the seller extinguishes their mortgage, while the buyer, if necessary, takes out a new one on their own.

Again, the notary can be of assistance, by pointing out the concrete alternatives and their costs.


Extracted from www.notariato.it

Start dreaming about your first home....

...we can help you enjoy this important moment in your life by dispelling all your worries.

Scroll to Top

PRIVACY POLICY
on the processing of personal data for browsing the website and cookies
pursuant to arts. 13 et seg. of Regulation (EU) 2016/679 (GDPR)

Foreword - Regulation (EU) 2016/679 («General Data Protection Regulation»), hereinafter GDPR is about the processing of natural persons’ personal data. In compliance with the above Regulation, the Data controller strives to ensure that the processing of a natural person’s (the “data subject”) data is based on the principles of correctness, lawfulness and transparency, as well as the protection of confidentiality and the rights of the data subject. Pursuant to arts. 13 et seg. of GDPR, the Data Controller will process with the utmost care user’s data in compliance with the Regulation, implementing effective operational procedures and processes in order to guarantee the related processing safeguards.


According to this introduction, the following information is provided:

Contacts details of the Data Controller The Data Controller is Notaio Vincenzo Papi, with its registered office in Roma Via Francesco Cancellieri n. 2; tel. 06681902 fax 0668806906; email vpapi@notariato.it pec vincenzo.papi@postacertificata.notariato.it.

Data Protection Officer - Data Protection Officer has not been designated because the conditions of the art. 37 Regulation (EU) 2016/679 are not satisfied.

Personal data collected - The personal data requested are solely those necessary for the fulfillment of the user’s request, in full compliance with the principles of adequacy of processing sanctioned by the European Regulation. Personal data of a common type referred to in art. 4 GDPR may be processed.

Processing purposes – Personal data you provide can be processed with the aim of getting in touch with the Data Controller. Personal data will be processed by the owner of this website for purpose related to providing the service you requested, especially for:

  • asking for information on the Data Controller’s services;
  • contracting with the Data Controller.

Legal basis for processing data and mandatory nature of data provision - The legal basis for processing common types of personal data pursuant to art. 4 GDPR, strictly necessary or relevant to the indicated purposes, is the fulfillment of a pre-contractual and/or contractual obligation in which the Data Controller is the subject and the related legal obligations (ex art. 6 p. 1 lett. b, c of the GDPR).

The data required for the above purposes must be necessarily given and in the absence of any process will not be performed.

Modalities of the processing Pursuant and consequent to arts. 12 et seq of the GDPR, the personal data that you provide to the Data controller will be recorded, processed and retained in our hard-copy and electronic files, in accordance with article 32 GDPR related to adequate technical and organizational measures. The processing of your personal data may consist in any operation or series of operations described in art. 4, para. 1, point 2 GDPR.

Personal data will be processed using suitable tools and procedures that guarantee security and confidentiality. Such processing may be carried out directly and/or via delegated third parties, both manually using hard-copy support and electronically using IT equipment and other instruments.

Extent of knowledge of your data Without prejudice to communications that are made in compliance with legal obligations, your personal data may be known by some subject categories such as employee of the Data Controller and external entities formally appointed by the Data Controller itself (art. 28 GDPR).

Retention period - Personal data collected for the purposes stated above will be stored only for the entire duration of the service and, in any case, for no longer than 5 years starting from the date when they have been changed or confirmed by data subjects.

Data transfer abroad - The data provided by you will only be processed in Italy. If during the contractual relationship your data is transferred to another country not included in EU, the Data Controller will take all security measures to protect your personal data and your right, given by EU legislation.

Rights of the data subjects Pursuant to Articles 15 et seq of the GDPR, the data subjects may exercise the following rights:

  1. access: to obtain confirmation of whether or not the personal data of the data subjects are processed and the right to access them; requests that are manifestly unfounded, excessive or repetitive cannot be answered;
  2. rectification: to correct/obtain the correction of personal data if incorrect or not updated and to complete data if incomplete;
  3. erasure/to be forgotten: in some cases, to obtain the erasure of the personal data provided; this is not an absolute right, as the Data controller may have legitim interest or legal reasons to store them;
  4. limitation: the data will be stored, but cannot be processed further, in the cases foreseen by the regulation;
  5. portability: to move, copy or transfer data from the Data controller’s databases to third parties. This applies only to data provided by the data subjects for the performance of a contract or for which express consent has been given and the processing is carried out by automated mode;
  6. objection to direct marketing;
  7. l’esistenza di un processo decisionale automatizzato, compresa la profilazione di cui all’articolo 22, paragrafi 1 e 4, e, almeno in tali casi, informazioni significative sulla logica utilizzata, nonché l’importanza e le conseguenze previste di tale trattamento per l’interessato;
  8. withdraw of the consent at any time if processing is based on consent.

Pursuant - to Art. 2-undicies of Legislative Decree 196/2003, the exercise of data subjects rights may be delayed, restricted or excluded, following justification provided without delay, unless this might compromise the purpose of the restriction, for as long as and to the extent that this constitutes a necessary and proportionate measure, taking into account the fundamental rights and legitimate interests of the data subjects, in order to safeguard the interests referred to in paragraph 1, letters a) (protected interests with regard to money laundering), e) (for the conduct of defensive investigations or the exercise of a right in court) and f) (for the confidentiality of the identity of the employee who reports offenses he becomes aware of on his duties).

In such cases, data subjects’ rights may also be exercised through the Personal Data Protection Authority in the manner referred to in Article 160 of said Decree. In such case, the Personal Data Protection Authority will inform the data subject that it has carried out all the necessary checks or that it has carried out a review, as well as of the data subject right to take legal action.

In order to exercise those rights, the data subject can contact the Data Controller to the e-mail address vpapi@notariato.it or by calling the telephone number 06681902 or by sending a letter to the following address via Francesco Cancellieri, 2 Roma 00193 RM.

The Company will respond within 30 days of receiving the data subject formal request.

If the abovementioned rights concerning data subject personal data are infringed, the latest may complain to the competent authority.

PROG.DIGITALI_INF.CONTATTI

Rev.00

PRIVACY POLICY
on the processing of personal data for browsing the website and cookies
pursuant to arts. 12 et seg. of Regulation (EU) 2016/679 (GDPR)

Foreword The following policy is a description of the processing carried out by the Data Controller of personal data provided by the data subject on the website.

Processing purposes For all website users, personal data may be used to:

  • allow browsing of the public web pages on our website;
  • check the proper functioning of the website;

COOKIES

Cookies definition Cookies consist of text strings that are sent by the website to the IT device to make the browsing experience more efficient.


Types of cookies
Technical cookies will be downloaded when browsing the website. These include:

 

authentication cookies, activated only in response to specific actions carried out by users that constitute a request for services

third parties cookies, functional to:

 

  • SPAM PROTECTION

Google reCAPTCHA (Google Inc.)

Google reCAPTCHA is an antispam provided by Google Inc. This type of service analyzes the traffic of this Application, potentially containing Personal Data of Users, in order to filter it from traffic, messages and content recognized as SPAM.

Personal data collected: Cookies and Usage data as specified in the privacy policy of the service.


Norme sulla privacy – Privacy e termini – Google

 

  • VIEW CONTENT FROM EXTERNAL PLATFORMS

This type of services allowes to view contents hosted on external platforms directly from the pages of this Application and to interact with them.

If this type of service is installed, it is possible that it will collect traffic data relating to the pages in which it is installed even if Users do not use it.


Widget Google Maps
(Google Inc.)

Google Maps is a web service that provides detailed information about geographical regions and sites managed by Google Inc. It allows to integrate these contents within the pages of the Application.

Personal data collected: Cookies and Usage data as specified in the privacy policy of the service.

Norme sulla privacy – Privacy e termini – Google

 

Google Fonts (Google Inc.)

Google Fonts is a web font service managed by Google Inc. that allows to integrate these contents within the pages of the Application.

Personal data collected: Cookies and Usage data as specified in the privacy policy of the service.

Norme sulla privacy – Privacy e termini – Google

  • WEBSITE IMPROVEMENT

Elementor (Elementor)

Our website made by Wordpress uses this cookie. The cookie allows the website owner to improve or change website content in real time.

Personal data collected: Cookies and Usage data as specified in the privacy policy of the service.

https://elementor.com/about/privacy/

 

  • PAYMENTS MANAGEMENT

The payment data, managed in encrypted format and according to the security requirements, do not pass through Zucchetti Software Giuridico’s servers, but are acquired directly by the payment service provider who will act as an independent data controller.


For more information, please refer to the pages of payment service providers:

Axerve Ecommerce Solutions:: https://www.axerve.com/privacy-policy/servizi-di-pagamento


Nexi:
https://www.nexi.it/it/privacy


Cookies deactivation
Users have the possibility to disable cookies at any time through their browser settings.

Cookies stored on the hard disk of your device can be deleted and you can also disable cookies by following the instructions provided by the main browsers, at the following links:

Microsoft Edge

https://support.microsoft.com/it-it/microsoft-edge/eliminare-i-cookie-in-microsoft-edge-63947406-40ac-c3b8-57b9-2a946a29ae09#:~:text=Apri%20Microsoft%20Edge%20and%20seleziona,del%20sito%2C%20quindi%20Cancella%20ora.


Chrome
https://support.google.com/chrome/answer/95647?hl=it

Firefox
http://support.mozilla.org/it/kb/Eliminare%20i%20cookie

Opera
http://www.opera.com/help/tutorials/security/privacy/

Safari
https://support.apple.com/it-it/guide/safari/sfri11471/mac


Legal basis for processing - This website processes data based on consent. By using or consulting this website, the data subject implicitly consents to the possibility of storing only those cookies that are strictly necessary ("technical cookies") for the functioning of this website.

Personal data collected and mandatory or optional nature of data provision and consequences of any refusal - Such as all websites, this website also uses log files to retain the information collected during visits by users in an automated mode. The following types of information may be collected:

  • internet protocol (IP) address;
  • type of browser and parameters of the device used to connect to the website;
  • name of the Internet service provider (ISP);
  • date and time of the visit;
  • the web page from which the visitor arrives (referral) and exits to.

The above information is processed automatically and collected in order to check the proper functioning of the website, as well as for statistical or security reasons.

For security reasons (anti-spam filters, firewall, virus detection), the data recorded automatically may also include such personal data as the IP address, which may be used in compliance with the relevant current legislation to block attempts to damage the website or other users or, in any case, to block other detrimental activities or crimes. Such data is never used to identify or profile the user, but solely to protect the website and its users.

As a consequence of normal use, the IT systems and software procedures dedicated to the functioning of this website acquire certain personal data whose transmission is inherent to the use of Internet communications protocols. This category of data includes the IP addresses or domain names of the computers used to link to the website, the addresses of the resources requested in URI (Uniform Resource Identifier) notation, the time of the request, the method used to submit the request to the server, the size of the file obtained in response, the numeric code indicating the status of the reply given by the server (success, error, etc.) and other parameters relating to the operating system and IT environment of the user.

Finally, by accessing the site, anonymous data will be recorded in order to understand the user experience.

Retention period of your data The personal data collected during the browsing session will be retained for the time needed to carry out the specified activities and for no more than 24 months.

Processing methods - Pursuant to and for the effects of Arts. 12 et seq of the GDPR, the personal data that the data subjects provide to us will be recorded, processed and retained in the Companies’ hard-copy and electronic files, with the use of adequate technical and organizational measures in order to protect such data. The processing of data subjects’ personal data may consist in any operation or set of operations described in art. 4, para. 1, point 2 GDPR.

Communication and dissemination - The personal data of the data subjects, provided through registration, may be communicated (meaning the giving of knowledge to one or more specific subjects) by the Data controller to third parties in order to implement all the necessary legal and/or contractual obligations. In particular, the personal data of the data subjects may be communicated to public authorities or offices or control authorities in order to fulfil legal and/or contractual obligations.

The personal data of the data subjects may be communicated in the following terms:

  • to parties able to access the data pursuant to laws, regulations or EU legislation, within the limits envisaged in such provisions;
  • to parties that need to access your data for related purposes to the relationship that exists between you and us, within the limits strictly necessary to carry out the ancillary tasks .

Rights of the data subject - Pursuant to Articles 15 et seq of the GDPR, the data subjects may exercise the following rights:

  1. access: to obtain confirmation of whether or not the personal data of the data subjects are processed and the right to access them; requests that are manifestly unfounded, excessive or repetitive cannot be answered;
  2. rectification: to correct/obtain the correction of personal data if incorrect or not updated and to complete data if incomplete;
  3. erasure/to be forgotten: in some cases, to obtain the erasure of the personal data provided; this is not an absolute right, as the Data controller may have legitimate interest or legal reasons to store them;
  4. limitation: the data will be stored, but cannot be processed further, in the cases foreseen by the regulation;
  5. portability: to move, copy or transfer data from the Data controller’s databases to third parties. This applies only to data provided by the data subjects for the performance of a contract or for which express consent has been given and the processing is carried out by automated mode;
  6. objection to direct marketing;
  7. withdraw of the consent at any time if processing is based on consent.

Pursuant to Art. 2-undicies of Legislative Decree 196/2003, the exercise of data subjects rights may be delayed, restricted or excluded, following justification provided without delay, unless this might compromise the purpose of the restriction, for as long as and to the extent that this constitutes a necessary and proportionate measure, taking into account the fundamental rights and legitimate interests of the data subject, in order to safeguard the interests referred to in paragraph 1, letters a) (protected interests with regard to money laundering), e) (for the conduct of defensive investigations or the exercise of a right in court) and f) (for the confidentiality of the identity of the employee who reports offenses he becomes aware of on his duties). In such cases, data subjects’ rights may also be exercised through the Personal Data Protection Authority in the manner referred to in Article 160 of said Decree. In such case, the Personal Data Protection Authority will inform the data subject that it has carried out all the necessary checks or that it has carried out a review, as well as of the data subject right to take legal action.

To exercise such rights, the data subject may contact the Data Controller.

The Company will respond within 30 days of receiving the data subject formal request.

If the abovementioned rights concerning data subject personal data are infringed, the latest may complain to the competent authority.

 

Contacts details of the Data Controller The Data Controller is Notaio Vincenzo Papi, with its registered office in Roma Via Francesco Cancellieri n. 2; tel. 06681902 fax 0668806906; email  vpapi@notariato.it pec vincenzo.papi@postacertificata.notariato.it.

Data Protection Officer - Data Protection Officer has not been designated because the conditions of the art. 37 Regulation (EU) 2016/679 are not satisfied.

PROG.DIGITALI_INF.COOKIES

Rev.00