What is trust law?

Tax assessments and notices of assessment by the Revenue Agency: who shelters the house in the assets can avoid the attachment?

You have received numerous payment cards and now your debt with the Revenue Recovery Agency has exceeded € 120 thousand. So you are afraid of being subject to a real estate foreclosure. Fortunately, a few years ago, on the advice of a good notary, you have entered into a patrimonial fund and, inside, you have entered the house. Now you feel you are protected by this guarantee and you are no longer afraid of payment reminders or mortgages. But is it really like that? In the case of tax debts, is the asset protection fund protected? Unfortunately, I have to give you bad news: despite the numerous limitations to the real estate foreclosure introduced in 2013 against the agent of the collection, among these is not mentioned the patrimonial fund. Moreover, even recent jurisprudence believes that the asset fund can be attacked when it comes to tax debts. Nevertheless, there are other forms of protection to which you can hold on to your hopes. Let’s try to see how things are at https://offshorecitizen.net/asset-protection/.

The patrimonial fund is a sort of screen, a glass bell that is realized with a notarial deed and which serves to protect real estate, cars, motorcycles and credit instruments from possible foreclosures. In essence, all the goods entered (ideally, since it is only a legal and not material protection) in the assets are bound to the needs of the family and, therefore, can not be attacked by creditors. But with some exceptions. Here they are.

Trust Law of Asset Protection

First of all, in order to “work”, the asset fund must have been set up before the debt was born; the fund created after, even before the agreement, cannot be opposed to the creditor.  

Let’s take two examples to better understand the issue. A person does not pay the IRPEF of 2019. A few months later he realizes a patrimonial fund, comforted by the fact that he has not yet received any notice of assessment or tax assessments. In reality, the fund is not useful because the debt has already arisen.

Similarly, imagine a person taking out a mortgage with a bank and pay the installments on a regular basis. At this juncture stipulates a patrimonial fund. Two years later he was fired and interrupted his payments. Here too, the patrimonial fund does not protect it since it was established after the birth of the debt even if it was still in compliance with the payments.

Even the fund set up before the birth of the debt, however, is shaky. It becomes definitive only after five years. In fact, before this time, the creditor can make it ineffective – with the so-called revocation action – if it shows that the debtor, once the fund was set up, stripped of all his assets and left the creditors without any guarantee.

For example, a person owning only one house, included in the asset fund, and a debt of 100 thousand euros may be subject to revocation. On the other hand, a person who owns three houses, only one of which is included in the fund, and a debt of € 200 thousand cannot be revoked.

Basically, the fund may be subjected to revocation for five years if the creditor demonstrates that the debtor has used it in order to defraud him and take away the assets that can be seized.

The needs of the family

The patrimonial fund does not protect from debts contracted for the needs of the family, even if they arose after its establishment. Only debts arising from voluntary expenses (eg travel, luxury cars, entertainment, etc.) or for investment purposes do not allow foreclosure of the assets of the fund.  

So, for example, if a person does not pay the condominium – since it is a charge related to the house and therefore to a family need – the assets can be attacked; the same applies to debts contracted for clothing, cars, etc.  

Does the asset fund protect against tax debts?

Many taxpayers have resorted to the equity fund to protect themselves from possible debts arising from tax defaults. Thus, those with a fund often failed to pay taxes such as income tax, VAT, etc.  

Precisely to put a stop to this evasive phenomenon, the Court of Cassation has espoused a very rigorous interpretation: tax debts must be considered contracts for “family needs”; therefore, even if they arose after the establishment of the fund, they can also allow the distraint of the house.  

Result: the house with the asset fund is distrained by the Revenue Collection Agency and any other agent of the collection even if the fund was set up prior to the notification of the portfolio or the birth of the debt.

This applies to taxes related to work (for example, Iva, Ires, Irpef) and indirect taxes (for example, Imu, Tasi, Tari, etc.). After all, the work is aimed at obtaining a profit and this – no doubt – is a means of sustaining the family.  

Even the Supreme Court considered legitimate the execution on the assets for debts arising from fines for violations of the Highway Code and outstanding contributions.

The same argument obviously applies, and a fortiori, for the mortgage: this fact, not being an act of forced execution but only a precautionary measure, can well be registered on the properties transferred to the equity fund.

Recently, the Supreme Court has said that the property of the alleged evader is also sequestrable even if it is set up in a balance sheet.

Capital base built after receipt of the folders

If it is true that the capital fund does not protect from tax debts and tax assessments when it was set up before the debts themselves, this is even more so when it is created later. On the contrary, in this case, the crime of ” fraudulent subtraction to the payment of taxes ” is also triggered if the arrears pertain to Irpef or VAT and exceeds 50 thousand euros.

Foreclosure of the balance sheet: when?

However, the fact remains that, with or without assets, the tax collector is obliged to comply with all other limits relating to property foreclosure. And therefore:

  • the mortgage can be registered only if the debt exceeds 20 thousand euro ;
  • the attachment can only be commenced if the debt exceeds € 120 thousand and the sum of the value of all the debtor’s properties exceeds € 120 thousand;
  • the attachment can never be initiated – regardless of the size of the debt – on the ” first home ” or on the only property owned by the taxpayer, on the condition that it is used as a city residence and place of residence, not luxury.

Contract form for the purchase and sale of movable assets between individuals

The purchase and sale of movable property: the type of contract, its content, and the form to be used between individuals.

Do you want to buy your friend’s used computer and do not know how to sign the contract? Your uncle has proposed you to buy an antique piece of furniture and you need a contract form for buying and selling movable assets between private individuals? Do you need a lawn mower for your gardening job and want to buy it from your neighbor? Here you will find a facsimile of contract that will help you with your purchases. However, it is good that you first know what this contract consists of and what is its content in order not to incur errors in its subscription.

Purchase and sale agreement for the movable property

A contract for the purchase and sale of movable property means the one in which a party, said seller or seller, undertakes to transfer to another party or to the buyer, who accepts, the ownership of a movable asset, no later than one certain date, behind the payment of a sum of money.

From this it follows that the parties to this type of contract are two:

  • the seller or transferor, who is the one who undertakes to transfer ownership of the property ;
  • the buyer or buyer, who is the person who commits to purchase it upon payment of the consideration.

The form of the contract for the purchase and sale of movable property

For the sale and purchase of movable property, our legislator does not necessarily provide the written form being free, in the sense that no predetermined forms are required for the validity of the agreement. It follows that the desire to conclude the sale can be expressed orally or for concluding behavior.

However, in order not to incur unpleasant problems, it is recommended to resort to a private writing/contract of sale between seller and buyer.

The onerous nature of the contract for the purchase and sale of movable property

The contract for the purchase and sale of the movable property is a contract for consideration, considering that both parties receive an economic advantage, represented by the payment of a determined or determinable price.

The specification of the agreed price

Precisely for this reason, it becomes essential to include in the contract for the purchase and sale of movable goods the price agreed for the sale of the asset as well as specifying the methods of payment.

Difference between the purchase and sale of movable property and exchange

In the contract for the purchase and sale of movable goods, the buyer undertakes to pay a price expressed and paid in quantity of money in exchange for delivery of the goods. Therefore, this type of contract differs from the exchange that occurs when the exchange concerns only goods, that is, something against what.

The purchase and sale contract with reservation of ownership

If payment is to be made in installments, then it becomes essential to specify that the contract is intended to be stipulated, subject to the ownership of the good, the seller until full payment of the consideration.

Until the buyer has fully paid the agreed price, he will not be able to sell (sell) the goods to others or in any case he will not be able to dispose of them freely without the seller’s consent.

In the event of non-payment, the contract may be dissolved, with the consequence that the transferor may retain a certain percentage of the price already collected as a penalty, except to prove the greater damage suffered.

The specification of the time of delivery of the asset

In the purchase and sale contract of movable property, it is also important to specify whether the delivery of the goods takes place simultaneously with the subscription or not.

The Civil Code [1] establishes that said delivery must take place in the place where the goods were at the time of sale if the parties are aware of it or in the place where the seller has his domicile.

The purchase and sale contract of things to be transported

Unless otherwise agreed between the parties, in the case in which the movable object subject of the contract must be transported, the seller frees himself of any obligation for delivery when he entrusts it to the courier. The transport costs, in this case, will be borne by the buyer.

In the sale of things to be transported from one place to another, the deadline for reporting any defects or apparent defects of the property is 8 days from receipt. In any case, the action is prescribed in the annual term starting from the delivery.

The guarantees

In the contract of sale of movable goods, it is always appropriate to insert the clauses relating to any guarantees starting with the general one of the seller for the defects and faults of the goods sold.

This guarantee can also be specified by providing, for example, the return of the asset and the reimbursement of the amount already paid, in the event that the purchaser establishes the existence of any defects or faults.

Therefore, the buyer who sets up the case, having operational defects in the purchased good, is obliged to report them within 8 days of discovery, unless otherwise agreed between the parties; will be able to return the asset to the seller and will be entitled to a refund of the sum previously paid.

Another type of guarantee that can be included in the contract for the purchase and sale of the movable property is that of sale subject to approval.

The contract indicates a term within which the buyer must express his approval; if this does not happen or the approval is negative, the contract can be considered automatically solved.

An additional guarantee is that relating to sample or trial sales.

The buyer is obliged to prove the goods purchased no later than a specific deadline from delivery, having to inform the seller of their eventual liking.

If the buyer is satisfied, the seller will be exonerated from any liability for the apparent defects of the thing sold.

The form of the contract for the purchase and sale of movable property

The private writing/contract for the purchase and sale of the movable property consists of several parts:

1) in the center of the line and in capital letters the heading should be mentioned:



2) follow the indication of the parts, first the seller and follow the buyer.

Both personal details (place and date of birth, residence, street/square, street number, tax code) with the specification of their qualities (in fact, seller and buyer) will be reported.

3) then, the phrase ” with the present private writing the lords in epigraph establish and accept the following:”

4) then, through a numbering, follow the different clauses that make up the contract:

  • initially, that relating to the obligation to transfer the movable asset, an object of the sale, which is borne by the seller and then, that of the purchase of the property of the same asset by the buyer, upon payment of consideration. In this clause it is also necessary to describe the good object of the sale;
  • then the one containing the indication of the price of the sale, which must be expressed in euro, with the specification if the sum is paid to the subscription, for which it is issued with private writing or if the payment will be made later. In this case, the payment deadline must be indicated. The procedures for payment of the sum to be paid in installments must also be specified. In the event that the parties have decided to entrust the determination of the price to a third party, it will be necessary to indicate the name;
  • therefore, the clause on the methods of delivery of the asset, if contextual to the signing of the contract or subsequent; in this last case, the delivery time must be specified (for example after one week from the signing of the contract). In the same way, the address (city and street) must be specified, if the delivery must take place at the seller’s or buyer ‘s premises and therefore, in this last hypothesis, the payment of transport costs is at the buyer’s expense;
  • furthermore, the clauses relating to guarantees: that for defects and faults of the goods, borne by the seller and possibly also that of the sale subject to approval or that relating to sales by sample or trial;
  • follows the clause for which the asset is sold in the state in which it is located and is delivered together with the accessories, the appurtenances and the fruits from the day of the sale, together with the titles and documents relating to the ownership and use of the thing sold ;
  • then, the one containing the seller’s declaration that the good sold is not burdened by guarantees or other restrictions;
  • therefore, the clause relating to the reference to the rules dictated on the subject of sale and purchase by the Civil Code for anything not expressly provided for in the contract;
  • the contract ends with the clause concerning the payment of the expenses of the same and of the accessory ones, which can be placed on the buyer, the seller or both parties.

The contract must be dated and signed by the seller and the buyer.

Similar form / fac



Mr/sig.ra (name and surname), born (birthplace), (date of birth), resident in (city), via …, n .., tax code n …, below indicated as



Mr/sig.ra (name and surname), born (birthplace), (date of birth), resident in (city), via …, n .., tax code n …, below indicated as


With the present private writing the lords in the epigraph indicated establish and accept the following:

1) Mr. (name and surname), seller, declares to transfer to the senses of the art. 1470 cc, to the sig. (name and surname), buyer, who accepts, the ownership of the following movable asset, (description of the asset) towards the consideration of a price;

2) the price is agreed by the parties for the sum of Euro …, which (name and surname of the buyer) accepts and pays to (name and surname of the seller), which issues receipt with the present writing [or that (name and surname of the buyer) is obliged to pay a (name and surname of the seller) within days … from today or according to the following procedures … ..in the case of payment in installments];

2 bis) the parties entrust the determination of the price to the third party, Mr. (name and surname) pursuant to Article 1473 of the Civil Code;

3) the mobile good sold is delivered to the buyer (name and surname), who, receiving it, acknowledges the seller (name and surname) with this writing, freeing him from any obligation related to the delivery [or (name and surname of the seller) undertakes to deliver, within … days from now, the movable goods sold to (name and surname of the buyer) who will go to collect it at the seller’s domicile … (city, street/square and street number)];

4) if the seller wants the delivery to be made at his domicile in … (city, street/square and house number) the transport costs are at his charge;

5) the seller guarantees the buyer against the eviction and defects of the purchased goods;

6) the asset is sold in the state in which it is located and is delivered together with the accessories, the appurtenances and the fruits from the day of the sale, together with the titles and documents relating to the ownership and use of the thing sold;

7) the seller declares that the asset is not burdened by guarantees or other restrictions;

8) for anything not expressly provided for, please refer to articles 1470 et seq. and 1510 et seq. cc;

9) the expenses for the present deed and the ancillary costs are to be borne by the buyer, pursuant to article 1475 of the Italian Civil Code [or: they are borne by the contracting parties, for one half each or still borne by the seller].