IPOTECA
A mortgage, which in the Italian legal system is regulated by Articles 2808 et seq. of the Civil Code, is a security right in rem, granted by the debtor or a third party over an asset, to secure a claim, which gives the creditor the power to expropriate the asset and to be satisfied with preference over the price obtained.
In other words, it gives a right of first refusal over the asset, designed to protect the creditor against the danger of insolvency by sheltering him from the consequence of the alienation of the encumbered asset or from the concurrence of other unsecured or less secured creditors.

They can be mortgaged:

1. Real estate with its appurtenances;
2. registered movable property;
3. the surface right, the emphyteuta’s right, the grantor’s right to the emphyteutic property, and the usufruct.
4. State rents.

The right of mortgage is constituted by registration in the appropriate register at the office of the Land Registry having territorial jurisdiction at the place where the property is located.
Such registration has a constitutive character in the sense that only with the registration does the right come into existence.
The right of mortgage is imprescriptible, but the effect of the registration is limited to twenty years: before the completion of the twenty-year period, therefore, the creditor must renew the registration , so that the mortgage retains its effects and rank for another twenty years.
In relation to the source, the law distinguishes legal, judicial and voluntary mortgage.

• legal mortgage is when it is the law itself that gives the creditor the right to attach the mortgage registration, without the concurrence of the debtor’s will.
• judicial mortgage has its source in a judgment ordering the payment of a sum or the performance of another obligation or compensation for damages; any other measure to which the law recognizes similar effect (e.g., enforceable injunction) is equated with the judgment
• voluntary mortgage has its source in a contract or from unilateral declaration of will by the grantor, such grant must take under penalty of nullity, the form of public deed or private writing.

The effects of the registration of the mortgage expire after twenty years if there is no renewal, vice versa, the mortgage is extinguished either by the extinction of the secured claim or by the perishing of the mortgaged property or by the waiver of the creditor, by the expiration of the term to which the mortgage was limited or by the occurrence of the resolutive condition and finally by the order transferring the expropriated right to the purchaser and ordering the cancellation of the mortgage.

FORECLOSURE

Attachment in particular Article 492 of the Code of Civil Procedure means, in law, the act through which forced expropriation begins pursuant to Art.
491 of the Code of Civil Procedure.
Pursuant to Art.
492, it generally consists of the injunction that the bailiff makes to the debtor to refrain from any act intended to remove the property subject to it from the security of the creditor expressly named.
The injunction also must contain a warning that the debtor himself may apply to replace the attached objects or claims with a corresponding sum of money, equal to the amount due plus any costs and interest.
This application must be filed i chancery accompanied by sum greater than one-fifth of the claim.
The procedure is governed by Articles 491- 497 of the Code of Civil Procedure.
The general discipline of garnishment was reformed by Law 80/2005 (especially Art. 492), which added a number of fulfillments to be complied with by the bailiff executing the attachment.
The concrete ways through which the attachment is implemented are determined by the nature of the property subject to enforcement, specifically through direct apprehension of the property if it is movable property, through transcription in public registers if it has immovable property as its object, and finally through notification if it has the debtor’s receivables as its object.
Once the attachment is activated, a list of unsecured creditors and preferential creditors is created, after which the property is sold at auction, and the proceeds of the auction sale are distributed first to preferential creditors and then any remaining amount to unsecured creditors.
Having satisfied all creditors and deducted court costs, any remaining sum is returned to the debtor.