For the purchase of the house, important news arrives, to protect the buyer. With the new law on competition, in force since last August 29, it was in fact introduced the deposit account for the protection of home buyers.
According to the law n. 124/2017, in fact, it will be possible to request the deposit of the purchase price of the property to the notary until the time of the transcription of the sale contract.
It is a tool that will try to eliminate or limit the many risks to which home buyers are exposed; for example, the presence, against the seller, of an application for seizure; or, again, the possibility that the seller sells the same property several times to different buyers, with the consequence that among them the one who transcribes first prevails.
The new law, which takes its cue from a practice that has been in force for some time in France, provides that the notary, in the event of a request from at least one of the parties, must keep the balance of the price destined for the seller in deposit until "the advertising formality with which the certainty is acquired that the purchase has been completed without incurring encumbrances is carried out".
Therefore, the traditional scheme will no longer be followed, which provided that, at the time of the deed, the seller handed over the keys and the buyer paid the agreed price.
