In the vast panorama of the tax breaks for thePurchase of the first homeone of the most delicate issues concerns the compatibility between the possession of a real right, such as the usufruct, and the possibility of accessing the tax benefits provided for those who buy a main home.

Many taxpayers are in particular situations that require clarifications, as in the case of those who live in a house in usufruct but want to buy a new property with the facilities provided by law.

A reader asked the following question to the Revenue Agency through the site Fiscooggi:

“At present I am the owner of a usufruct contract at my home/residence (house not owned by me). I wanted to know if I can be titled to take advantage of the first home concessions for the purchase of another home and what are the appropriate constraints. Specifically: is an immediate movement of the residence required or can I keep it at my current home? “

A question that touches an essential knot: Is the real law of usufructto compatible with the conditions required by the legislation to benefit from the first home facilities? And what are the constraints related to the residence requirement?

If you also find yourself in a similar situation, continue reading: you may find that the rules are not as restrictive as they seem … or yes?

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Legislation and requirements to access the first home facilities

The response provided by the Revenue Agency takes article 1 as reference, note II-bis, of the rate before the Presidential Decree no. 131/1986, the text governing the registration tax in the event of the transfer of properties. This article clearly establishes the fundamental conditions in order to take advantage of the First home tax breaksi.e. the application of a reduced registration tax (2% instead of 9%) or 4% subsidized VAT in the event of purchase by a manufacturer company.

Among the main requirements, there is the one that the property to be purchased is located:

  • In the municipality in which the buyer has residence;
  • or in the one in which intends to transfer it within 18 months from the date of stipulation of the deed of sale;
  • or, alternatively, in the municipality in which carries out its work activity.

A further fundamental aspect concerns the Declaration of not having other real rights on residential properties in the municipality where the house to buy is located. In particular, the buyer He must not be the owner – not even by quota – of property rights, usufruct, use, home or bare property on another house of home purchased with the same concessions.

In this case, the main obstacle for the reader is precisely the ownership of the usufruct on the current home, which is configured as a real right. The legislation, in fact,, It does not distinguish between properties and usufruct: the mere fact of owning the usufruct on another house in the municipality where you want to buy the property can prevent access to the tax benefit.

However, if the usufruct is on a property located in a different municipality from the one in which you intend to buy the new home, e The “first home” benefits have not been used previouslyThen it is possible to access it, provided that all the other expected constraints are respected, such as the transfer of the residence within 18 months.

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Residence and timing: what should be moved?

One of the main requirements to be able to access the first home facilities concerns the relationship between the property purchased and the residence of the buyer. The law allows a certain margin of time to adapt, avoiding the obligation of an immediate transfer. Indeed, The buyer is 18 months old from the date of stipulation of the deed for transfer its residence to the municipality where the property is located subject of facilitation.

The response of the Revenue Agency clarifies this point: It is not necessary to immediately transfer the residencebut it is essential that the new property is:

  • in the municipality where the buyer already has residence,
  • or in the one in which will transfer it within 18 months of the purchase.

There is also a lesser known but important alternative: The requirement is satisfied even if the buyer carries out his work in the municipality of the propertyregardless of residence. This offers a concrete possibility to those who, for example, work in one municipality but reside permanently in another, perhaps for family reasons.

In the case of the reader, therefore, It is not mandatory to immediately change residencebut it will be necessary to do it within a year and a half from the date of the deed, unless it can demonstrate that the property purchased is located in the municipality where it works.

Be careful, though: Failure to comply with this term can make the tax benefit decaywith the obligation to pay the ordinary tax, as well as interest and penalties.