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.
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”.
