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Improved Lot Exemption

Italian translation: esenzione (Improved Lot Exemption) concessa purché il venditore termini la costruzione entro 2 anni

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01:34 Jan 20, 2008
English to Italian translations [PRO]
Law/Patents - Law: Contract(s) / Real estate
English term or phrase: Improved Lot Exemption
I guess this must be an American law about real estate or land property, there are some references on the web but not very much. Here is all the context I have:
"If the fact that the Standard Improvements ere not completed as of the date of this Agreement shall mean that the Unit is not considered "substantially complete" for purposes of qualifying for the Improved Lot Exemption from the registration requirements of the interstate Land Sales Full Disclosure Act,"
The Agreement is a real estate sale contract, the Unit is a flat or office in a condominium.
Francesco D'Arcangeli
Italy
Local time: 14:56
Italian translation:esenzione (Improved Lot Exemption) concessa purché il venditore termini la costruzione entro 2 anni
Explanation:
Ciao Francesco,

Effettivamente, come dici tu e come riporta il tuo testo, si tratta di una normativa statunitense, conosciuta con il nome di "Interstate Land Sales (Full Disclosure) Act":

...real estate attorneys now widely accept that the federal **Interstate Land Sales Act (the Act)** applies not only to homesite lots, but also to condominium units and homes that are **not fully complete** as evidenced by a certificate of occupancy at the time of purchase.
http://www.hklaw.com/id24660/PublicationId2225/ReturnId31/co...


Questa legge prevede che la proprietà immobilare, per poter essere venduta o affittata, debba prima essere "accatastata" (per così dire) con lo U.S. Department of Housing and Urban Development:

The Act **prohibits the sale or lease** of any “lot” **without first filing a large registration with the U.S. Department of Housing and Urban Development (HUD)**, including a comprehensive full disclosure document (Property Report).
http://www.hklaw.com/id24660/PublicationId2225/ReturnId31/co...


Vi sono comunque delle eccezioni e la "Improved Lot Exemption" per cui chiedi lumi è una di esse:

The Act provides a number of **exemptions** (1) some of which exempt the project from the registration requirement of the Act, (2) a smaller number of which will exempt the project from the entire Act, and (3) a few of which operate on an individual lot or unit basis. Falling in the last category, the most widely used exemption is probably the **“Improved Lot”** exemption (also known as the **“Two Year”** exemption) pursuant to which the Act does not apply to:
“the sale or lease of any improved land on which there is a residential, commercial, condominium, or industrial building, or the sale … of land under a contract obligating the seller ... to erect such a building thereon **within a period of two years**.” (emphasis added)
The key question for condominium developers and homebuilders who wish to offer and sell units that are not yet complete but who wish to be exempt under the underlined provision of the exemption is: what constitutes a “contract obligating the seller ... to erect such a building thereon within a period of two years”? It is tempting to include a provision in the sales contract stating that the developer shall complete the construction of the residential unit within two years from the signing of the sales contract and then to feel that safe harbor is reached; however, to avail oneself of the exemption is far more complicated.
http://www.hklaw.com/id24660/PublicationId2225/ReturnId31/co...


Se fossi in te, espliciterei il concetto, mantenendo però anche il riferimento all'espressione inglese, scrivendo qualcosa sulla falsariga di:

esenzione dagli obblighi di registrazione (c.d. "Improved Lot Exemption") prevista dal Land Sales... (e concessa) purché il venditore termini la costruzione delle unità immobiliari entro due anni dalla vendita (o espressione similare che tu ritenga adatta al tuo contesto)


--------------------------------------------------
Note added at 1 day6 hrs (2008-01-21 08:22:56 GMT)
--------------------------------------------------

Non concordo granché con la proposta del collega (migliorie fondiarie) in quanto mi pare che con questo termine si intendano i miglioramenti di vario tipo e a vario titolo apportati ad un *terreno* mentre la normativa sull'Improved Lot exemption (indipendentemente dal nome) parla specificatamente di "abitabilità dell'unità residenziale":

A **residential structure**, for example, **must be ready for occupancy** and have all necessary and customary utilities extended to it before it can be considered complete. Manufactured home **lots with pads but no structure, even if improved with utilities and roads, will not qualify for this exemption**.
http://www.hud.gov/offices/hsg/sfh/ils/ilsexemp.cfm


Come si vede, non basta che a un fondo (lot) siano apportate delle migliorie ("utilities and roads"). Occorre proprio che ci venga costruita un'abitazione (unità immobiliare) e che questa sia abitabile.

Tutto ciò non toglie, naturalmente, che il concetto possa essere espresso in varie maniere in italiano.


Al **terreno** si è data adeguata **sistemazione** sfruttando anche le leggi che favorivano le **migliorie fondiarie**.
www.ilquaderno.it/index.php?categoria=109&articolo=19090&se...
Selected response from:

Monica M.
Italy
Local time: 14:56
Grading comment
E' sempre preferibile non tentare la ricerca di un equivalente tra sistemi giuridici così diversi ma spiegare!
4 KudoZ points were awarded for this answer

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Summary of answers provided
4esenzione per migliorie fondiarie
Giovanni Pizzati
3esenzione (Improved Lot Exemption) concessa purché il venditore termini la costruzione entro 2 anni
Monica M.


  

Answers


13 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
improved lot exemption
esenzione per migliorie fondiarie


Explanation:
onde evitare il "come e perché" di Monica, non mi rifaccio alla legge americana ma alla traduzione letterale.

Giovanni Pizzati
Italy
Local time: 14:56
Specializes in field
Native speaker of: Native in ItalianItalian
PRO pts in category: 294
Login to enter a peer comment (or grade)

7 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
improved lot exemption
esenzione (Improved Lot Exemption) concessa purché il venditore termini la costruzione entro 2 anni


Explanation:
Ciao Francesco,

Effettivamente, come dici tu e come riporta il tuo testo, si tratta di una normativa statunitense, conosciuta con il nome di "Interstate Land Sales (Full Disclosure) Act":

...real estate attorneys now widely accept that the federal **Interstate Land Sales Act (the Act)** applies not only to homesite lots, but also to condominium units and homes that are **not fully complete** as evidenced by a certificate of occupancy at the time of purchase.
http://www.hklaw.com/id24660/PublicationId2225/ReturnId31/co...


Questa legge prevede che la proprietà immobilare, per poter essere venduta o affittata, debba prima essere "accatastata" (per così dire) con lo U.S. Department of Housing and Urban Development:

The Act **prohibits the sale or lease** of any “lot” **without first filing a large registration with the U.S. Department of Housing and Urban Development (HUD)**, including a comprehensive full disclosure document (Property Report).
http://www.hklaw.com/id24660/PublicationId2225/ReturnId31/co...


Vi sono comunque delle eccezioni e la "Improved Lot Exemption" per cui chiedi lumi è una di esse:

The Act provides a number of **exemptions** (1) some of which exempt the project from the registration requirement of the Act, (2) a smaller number of which will exempt the project from the entire Act, and (3) a few of which operate on an individual lot or unit basis. Falling in the last category, the most widely used exemption is probably the **“Improved Lot”** exemption (also known as the **“Two Year”** exemption) pursuant to which the Act does not apply to:
“the sale or lease of any improved land on which there is a residential, commercial, condominium, or industrial building, or the sale … of land under a contract obligating the seller ... to erect such a building thereon **within a period of two years**.” (emphasis added)
The key question for condominium developers and homebuilders who wish to offer and sell units that are not yet complete but who wish to be exempt under the underlined provision of the exemption is: what constitutes a “contract obligating the seller ... to erect such a building thereon within a period of two years”? It is tempting to include a provision in the sales contract stating that the developer shall complete the construction of the residential unit within two years from the signing of the sales contract and then to feel that safe harbor is reached; however, to avail oneself of the exemption is far more complicated.
http://www.hklaw.com/id24660/PublicationId2225/ReturnId31/co...


Se fossi in te, espliciterei il concetto, mantenendo però anche il riferimento all'espressione inglese, scrivendo qualcosa sulla falsariga di:

esenzione dagli obblighi di registrazione (c.d. "Improved Lot Exemption") prevista dal Land Sales... (e concessa) purché il venditore termini la costruzione delle unità immobiliari entro due anni dalla vendita (o espressione similare che tu ritenga adatta al tuo contesto)


--------------------------------------------------
Note added at 1 day6 hrs (2008-01-21 08:22:56 GMT)
--------------------------------------------------

Non concordo granché con la proposta del collega (migliorie fondiarie) in quanto mi pare che con questo termine si intendano i miglioramenti di vario tipo e a vario titolo apportati ad un *terreno* mentre la normativa sull'Improved Lot exemption (indipendentemente dal nome) parla specificatamente di "abitabilità dell'unità residenziale":

A **residential structure**, for example, **must be ready for occupancy** and have all necessary and customary utilities extended to it before it can be considered complete. Manufactured home **lots with pads but no structure, even if improved with utilities and roads, will not qualify for this exemption**.
http://www.hud.gov/offices/hsg/sfh/ils/ilsexemp.cfm


Come si vede, non basta che a un fondo (lot) siano apportate delle migliorie ("utilities and roads"). Occorre proprio che ci venga costruita un'abitazione (unità immobiliare) e che questa sia abitabile.

Tutto ciò non toglie, naturalmente, che il concetto possa essere espresso in varie maniere in italiano.


Al **terreno** si è data adeguata **sistemazione** sfruttando anche le leggi che favorivano le **migliorie fondiarie**.
www.ilquaderno.it/index.php?categoria=109&articolo=19090&se...


Monica M.
Italy
Local time: 14:56
Specializes in field
Native speaker of: Native in ItalianItalian
PRO pts in category: 221
Grading comment
E' sempre preferibile non tentare la ricerca di un equivalente tra sistemi giuridici così diversi ma spiegare!
Login to enter a peer comment (or grade)




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Jan 20, 2008 - Changes made by writeaway:
Language pairItalian to English » English to Italian


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