The forms of sale of the recreational units are distinguished according to the type of goods, which are distinguished in: registered mobile assets (vessels and recreational craft) and recreational units constituting simple movable property (vessels); also, there is a different tax arrangement applicable to the transfer of ownership.
As with all registered movable property, the transfer of vessels and recreational craft involves the conclusion of a regular deed of sale, drawn up by notarial deed, or by authentication of the deed of sale at the municipal offices, followed by a formal act of registration in the public registers.
Within a maximum of six
months from the allocation of the provisional registration number, the notarial
deed or the municipal authenticity must be made, as well as the final
registration in the public registers
involves the payment of an administrative fee.
Transfer of ownership of simple (unregistered) movable property such as vessels does not require any special formalities, so no written deed of sale is required; the simple possession as an appropriate title for the transfer of ownership is sufficient.
In any case, the purchaser must be in possession of the tax documentation certifying the purchase and therefore the title of possession (invoice, customs bill or registered document). These documents must show, in addition to the fulfilment of tax and customs obligations, also the particulars, address and tax code of the person concerned, as well as the technical description of the unit being traded.
Under a financial lease, the lessee (leasing company) acquires a watercraft on the indication of the holder or user (customer) in order to grant it in use for a predetermined and protracted term with the obligation, by the holder/user, to pay periodic rental payment (leasing fee).
At the end of the lease period and after having paid all the rentals, the holder/user can redeem the asset at the amount agreed at the beginning of the lease.
According to art. 16 of D. Lgs. n. 171/2005, the pleasure craft used as a finance rental with purchasing power are registered in the name of the lessor with a specific record on the registration and navigation licence of the user’s name and the expiry date of the relevant contract.
By entering into a leasing agreement, companies may acquire the availability of an capital asset without paying the necessary capital to purchase it, without exposing themselves to the risk of the loss of value of the asset by rapid obsolescence, and reserving the right, at the end of the time limit, to be able to purchase the property definitively or to return it.
In case of redemption of the property (recreational unit) it will be necessary to proceed to the formalities provided for the transfer of ownership of the same unit. The documents proving the conclusion of the leasing contract and therefore the object of the profit must be kept on board in original or true copy until the restitution of the recreational unit or their purchase.
It should be noted that, in case of purchase of a recreational unit, which is achieved by means of private writing with authenticated signatures by a leasing company, the authenticity of signature of the legal representative of the leasing company will be certified by the notary along with the powers of the underwriters.