Superbonus 110% transferable to buyers and heirs holding the property
The “increased” deduction of 110%, relating to the interventions defined in Art. 119 of the Relaunch Decree, is transferable to the purchaser in the event of sale of the property or to the heir who materially holds it following the death of the holder of the deduction.
In the event of the sale of a property subject to the building restoration work before the entire period of exploitation of the facility has elapsed, the remaining deduction is automatically transferred, unless otherwise agreed by the parties, to the purchaser of the unit. This agreement is foreseen in case of transfer by inter vivos deed, including the donation as specified in the in Circular no. 7/2017 by the Italian Tax Authority.
The mechanism is not foreseen if the subject of the reference is:
– the right of use, in which case the deduction remains to the bare owner because he still owns the property right;
– the transfer of a share of the property, except for the transfer which allows the buyer to become the sole owner.
In the case of a property subject to renovation and transferred by inheritance, the unused deduction is automatically passed on to the heir who retains the material and direct possession of the property.
In this regard, however, it is necessary to focus on a few points clarified by the Revenue Agency with Circular no. 7/2017:
– if the property is rented, the deduction is lost and therefore not passed on to the heirs because they do not dispose of the property;
– if the property is free and there are more heirs, the deduction is due to each of them pro-rata;
– in the presence of several heirs, but only one of them uses the property as a dwelling, the deduction can only be used by the latter;
It is important to point out that if the surviving spouse renounces the inheritance, retaining only the right of residence, he or she cannot benefit from the deduction. It follows that even
the heirs will be deprived of it because they do not physically dispose of the property.
Finally, it should be highlighted that the possession of the property must exist not only for the year of acceptance of the inheritance, but also for each year for which the remaining deductible instalments are to be made. Therefore, if the heir lends or rents the property, he will not be able to benefit from the deductible instalments pertaining to the years in which he no longer has the material and direct possession of the property. He may benefit from them at the end of the loan or lease contract.