Tuesday, July 3, 2012

Update on apartment number two/three

I have delayed writing this, hoping that I would have something of substance to say, but alas, I am still waiting.  Here is the Italian soap opera script in which I am caught up.  Last June we wrote a "compromesso" a legal binding agreement in Italy to buy the apartment next door.  We exchanged money, signed documents, etc.  Approximately two weeks later, one of the co owners, Max,  committed suicide in his apartment in Rome.  His half of the apartment went to his mother.  Here are the complications I am dealing with:
1.  The compromesso was to be completed by October of 2011. This did not happen due to the death.
2.  The apartment was held in common with Max and his grandmother.
3.  There needed to be a complete inventory of all of the belongings of Max in order to complete the estate.  This took over a year because of all of the foreign accounts and property in Italy.
4.  By law his estate was inherited by his mother.  This means the apartment is now owned by the grandmother and mother who are actually mother-in-law and daughter-in-law.
5.  The women have not spoken in 14 years, and this has not improved with the death of the only son, only grandson.
6.  The women both want to sell at the agreed price.
7.  I want to buy at the agreed price.
8.  The women do not want to be in any meeting where they will have to be with one another.  This means one of them will have to have a "procura" or power of attorney so someone can sign for them so that they can be in the meeting with the other.
9. The grandmother is near 90 and is now in the hospital.
10.  No one has any real motivation except us to make this happen.  They buyers are wealthy and grief stricken.  One is very ill and the other one is willing to do anything to get out the arrangement with her mother-in-law including giving all of her property to charity.

No, I don't know what happens if the grandmother expires before the documents are signed.
Yes, we are going to look at other property.....

The documents are being prepared.  We hope to have a signing this week.  If we don't get the signing this week, we will continue to wait and look at other property.  Sigh....
If any of you out there have any ideas, I am all ears.

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