Italy’s leasing association Assilea and the Notary Council of
Milan have jointly set the future standard clauses for real estate
leasing contacts.
Following a series of legislative changes in the last three
years, the leasing association and the Notary Council decided to
strengthen their cooperation which started back in 2005 and make
clauses uniform and more transparent.
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The standard clauses concern the purchase of property to be
leased, the sale of property already under a lease agreement, the
leaseback of property, and the purchase of land on which to build
property which will subsequently be leased.
Assilea said that the initiative will “slim down and speed up”
notaries’ deeds of real estate leasing operations and make the
market “more competitive and transparent”.
Italy’s real estate leasing business has traditionally
represented around half of the total leasing business of the
country.
Last year, business volumes reached €15.1 billion.
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By GlobalDataAntonio Fabrizio
