Today we had a visit with Massimo -- partly to check on the document. Although he had not received official word, he was quite certain that the notaio would have the document before the end of the day. We still haven't heard and don't want to call.
Massimo explained a little of Ghiotto's tax woes. It seems that the Ghiotto clan failed to consider the Italian version of the capital gains tax. Massimo told us that Ghiotto bought the land for our structure (duplex) in 2004 for only 30,000 Euro. Since he is selling the construction properties within a five year time frame, he is liable for a whopper of a tax. Seems that this news is new to Ghiotto, courtesy of our notaio. (Massimo was aware of this from the start, but, eager to make the deal, elected not to share the info. with Ghiotto.)
As much as I would like to wring his neck for being so late -- I do feel for him and his family. They aren't high-powered, wealthy, real estate titans -- just an uninformed and uneducated family. Sad.
Let's hope that he doesn't hold out for another year.
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