Convention between Inps and National Council of Notaries Telematic and traditional auctions for new real estate divestments

The president of INPS, prof. Tito Michele Boeri, and the president of the National Notary Council, notary Salvatore Lombardo, have signed the agreement for the management of the disposal of the Institute's real estate assets through telematic and traditional auctions.

Following the entry into force of the 24 Decree Law April 2017, n. 50, in line with the provisions of the investment and disinvestment plans adopted by the Institute, the asset disposal business has been restarted and, through the agreement signed with the National Notary Council, the disposal will be managed by auction public real estate units not sold as an option to those entitled or transferred to closed real estate funds.

The collaboration, which will last three years, will allow telematic auctions to be conducted through the Notarial Auction Network (RAN) allowing the widest participation of all the interested parties, who can present their offer even remotely at the studio of one of the qualified notaries present throughout the country, in full transparency and security and with a consequent cost savings.

To date 63 are public tenders for auctions managed through the RAN for a value of more than 156 million euros.

The public auctions of the main Inps real estate units (apartments, shops, offices, etc.) will be entirely managed through the Notarial Auction Network (RAN), while those

secondary units (cellars, attics, garages and parking spaces) can also be managed using traditional auctions, with simplified procedures.

The first phase of the disposal program through public auction of the Institute's real estate assets will concern free buildings, both for residential and non-residential use, and will be launched within the first half of the 2018.

Auction notices and useful indications for participation in the auctions will be available on the INPS www.inps.it website and on the Notariat websites www.notariato.it and www.avvisinotarili.it

Convention between Inps and National Council of Notaries Telematic and traditional auctions for new real estate divestments